News

Women have more money to spend but capturing their attention is getting harder

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October 28, 2019

Price-conscious female shoppers are looking for greater convenience and price value this holiday season, and they will have more money to spend. Those are top findings of a DaVinci Payments study polling women, aged 18 to 75.

The study reveals that while 45% report increased wealth and buying power, 43% expect to spend the same this holiday season as last year, 30% will spend less and only 27% will spend more.

Additional findings include:

• 47% intend to make over 50% of their holiday purchases online.
• 69% are Amazon Prime members.
• 52% make at least half of their online purchases from Amazon.
• 52% buy from reseller sites, with designer clothes and accessories being the number one category they purchase.
• 45% make more than half of all of their online purchases from their phones.
• 81% shop online for convenience.

Women shoppers' holiday season buying decisions may be influenced by rebates and loyalty prepaid rewards, noted the survey, as 70% would choose a $100 rebate over a $50 instant cash discount on a $500 purchase.

"We live in a world where Amazon and online resellers provide a level of convenience and savings that retailers find tough to match," said Rodney Mason, daVinci Payments' chief revenue officer, in the release. "Retailers need a mobile-first approach at every touchpoint to make the shopping experience as convenient as possible. Additionally, rebates and loyalty programs provide a significant opportunity for retailers to entice women shoppers during this holiday season. As people look to compare deals in an effort to spend less, brands need to draw them in with compelling discounts and retain their loyalty with ongoing surprise-and-delight offers focused on convenience, relevancy and value."