Overcoming the E-Commerce Gender Gap & Other Growth Strategies
One challenge that the Consumer Packaged Goods (CPG) market continues to face is an obvious e-commerce gender gap. In order for these companies to effectively target men and women, marketers need to understand the different attitudes and behaviors of male and female shoppers. Marketing Dive reported on a recent study indicating that male consumers clearly put a stronger premium on the tangible, in-store experience while women are faster to embrace the emerging technology and commerce platforms brands are excited about, including connected home devices. The study also found that women are more likely to shop at discount retailers both in-store and online.
Below are some recommended strategies that CPG brands can use to bridge the e-commerce gender gap. First, it’s important to remember that:
- Men are needs-focused researchers. They’re drawn to detailed product descriptions. When men find what they want, they make the intended purchase, and finish the process quickly.
- Women are socially-influenced browsers, and when they shop, they enjoy sifting through lifestyle-focused editorial content. They fill up bigger baskets and abandon more items, with an eye toward return policies.
- Women spend more time and are more social. They’re more likely to click through e-commerce and more willing to be inspired once they open up an app or web browser.
- Men spend more money but want to get the purchase right the first time. They will do anything to avoid returning purchased items. Companies that make it easy for them to buy and get out, and don’t bug them about return policies, will have much better success.
CPG brands are encouraged to hire professional copywriters, along with art directors, and tailor their designs accordingly for men and women — or design skillfully down the middle. Forbes provided some additional growth strategies including:
- Employ an Omnichannel Strategy. In order to successfully compete in the current market, brands need to sell their items in physical stores, on large e-commerce sites like Amazon, and on their own websites.
- Follow the Data. Big data can help CPG companies in predicting everything from what will happen if a top competitor adjusts its price to when its product is more likely to be purchased with a certain promotion.
- Get Closer to Consumers. Consumers have a direct line to companies through social media channels, and CPG companies can use their feedback for product, marketing, sales, and executive management.
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