Survey says…. women bought 85% of all luxury goods sold last year.
The experts will tell you it’s all part of a cultural shift that begins with the fact more and more women are staying in school longer.
“Just more than 9% of women have their master’s degree… and, when you think about that, that translates in to higher incomes” Ford Futurist Sheryl Connelly told KTSA News, quickly adding there are a number of factors at play.
“Some of this might be part of the aftermath of the global recession” Connelly said, adding “As many families navigated their household budgets through those tough times, women found themselves in the position of the Chief Financial Officer for the household.”
Connelly said there are also some “hard wiring” reasons that may explain why women appear to be so much more in the market for luxury products than men.
“Men tend to be drawn to features that are technologically-based–they’re interested in the science and innovation–where women look at it in terms of what’s the context? What’s the story behind the product? And, what’s the solution it will provide for me?” Connelly said.
All in all, Connelly said the trend indicates something bigger that’s happening.
“A shift in terms of the way that we think of traditional gender roles” Connelly said.