Before you read the following piece, please answer this first – do you think women or men spend more money? Does the thirst to buy have anything to do with our sex orientation? What to do you think?
I used to wonder why some stores are successful without any decoration, while others spend a huge part of their budget on advertisements and image. Now I know. The former tailors to men, while the other tailors for women because women enjoy the shopping experience, while men just buy. Get in, get out.
In a study titled “Men Buy, Women Shop,” by Wharton’s Jay H. Baker Retail Initiative and the Verde Group, researchers found that women are much more likely going to respond to friendly sales associates, while men are more concerned with the availability of parking, whether the item is in stock or how many people are in the checkout line.
According to Ruth Hayden, the author of For Richer, Not Poorer: The Money Book for Couples, women have been taught to purchase for lifestyle and children, while men have been taught to invest in items that hold value. Another critical difference is that women tend to spend money gradually over time, while men spend them in big chunks. HDTVs, big cars, you name it, men like them. (We know this is true, but the points contradict themselves don’t they? If men likes their car so much, why do they hate having to wait for a parking spot?)
Women also tend to buy regardless of whether or not it’s a good long term investment. This can potentially become a huge risk for women as they age, because of the lack of investments at a young age (remember time grows money). Men’s biggest risk on the other hand is their egos. They need to brag about their possessions and how much money they’ve made in the market, so they end up chasing market performances and keeping up with the Jones much more than women.
Now there’s proof – Women love shopping. It’s not that men don’t spend though. In fact, we might spend even more if we can find that parking spot quickly.
Hey, I thought you might be interested in what others think (at least I am). So scroll a little more and type in your thoughts while reading what others have to say.
Readers have also correctly pointed out that your individual case may differ. Just because a “study” published these findings doesn’t mean that everyone is the same.