Last week we looked at businesses that found success targeting Night Owls. GbBIS continues its series by looking at companies that have benefited from the growing purchasing power of women.
Check in next week to see which businesses we will be highlighting in our series
At the beginning of America’s Great Recession, unemployment hit everyone hard. But over time, more women than men have returned to the labor force. Just last year there was an unprecedented 2 point gap in the unemployment rate between men and women. Here are a few businesses that have benefited from women’s growing purchasing power.
High end clothing retailers like Nordstrom’s and Chico’s have seen increased earnings over the last few quarters. Both of these brands market to a wide range of female customers, from Baby-Boomers to twenty-somethings, casual to formal wear.
If you aren’t familiar with the brand, Allergan offers a wide range of products that purportedly make women smooth-skinned, long-lashed, and thin. Among other things, Allergan offers Botox wrinkle relaxers, eyelash lengtheners, and Lap-Band gastric band implants. According to experts, Allergan’s earnings are expected to grow at a rate of 15% annualized over the next five years.
The phrase “diamonds are a girls best friend” may be old fashioned, but if you asked Tiffany & Co., they’d tell you it still rings true today. Tiffany’s shares are nearing an all-time high, and they are expecting to open about 21 new stores over the next year.
Whether your business targets night owls, ethnic groups, or women, an important part of any target marketing strategy is knowing who to target. And that begins with having the right data. Many businesses, like GbBIS, offer the high quality, up-to-date demographic data for any area in the US and Canada. Use demographic data to find customers in your area, create customer profiles, and much more.