In a recent post, we explored the significance of single women buying homes. This inspired us to look more closely at this consumer demographic. Turns out, she’s become a driving force in the economy and will remain one for many years to come. That means understanding her, especially where she’s underserved by marketing and advertising, could have a significant impact on several more industries than previously mentioned.
Single women are a quickly growing demographic.
So yes, fewer people than ever are getting married. And while marketers know this, it’s not clear how much more they know about these individuals.
Let’s start with the sheer size of the market. More than half of all adult Americans (about 125 million) are single according to Small Business Labs. Many are divorced or widowed, but the number of U.S. adults who never married is also at its highest point according to the Pew Research Center.
As for the single woman, Marketing Daily tells us this number is expected to top 50 million by 2035.
Younger single women have more to spend.
Currently, many of the younger women do not have children and the older women are often empty nesters. In both cases, there is a surplus of discretionary income that would otherwise go toward child-related needs. As a result, Devries Global Public Relations discovered that this target spends:
- 35% more per person on groceries
- 2x as much per person on hair and beauty products
- 60% more days abroad per year (and they take longer vacations)
Now, let’s look at why they spend in some of these areas. When it comes to groceries, they are naturally attracted to single-serve items that often come with a premium price. They also tend to choose fresh foods and options that are considered the best among a store’s offerings. Plus, they care about their health and appearance. And travel ranks high among the ways in which this hard-working group likes to treat themselves and broaden their experiences.
Single women lead nuanced lifestyles.
No matter what it is that you’re marketing to single women, there are a few things to keep in mind.
- As mentioned in our last post, we can’t stress enough the importance of this group’s diversity. So, be sure your marketing reflects this. Or, focus your efforts on a smaller, more nuanced segment.
- Recognize that being single is a matter of choice. This individual is not waiting around for her status to change. She loves the life she has created for herself and you should, too.
- Celebrate how social they are. They stay very close to large groups of friends and family, and often spend lavishly on—and with—these close circles.