Solo Female Market a $1 Trillion Segment by 2010
If you’re thinking of a new business or still looking for the right target market to serve or in the process of repositioning your brand, consider the Solo Female Consumers seriously! Here’s why.
As defined by global intelligence company MarketResearch and Packaged Facts, solo female are never-married female consumers between the ages of 25 to 44 who have no children. Generally, they are individualistic, independent, and can make intelligent decisions. More importantly, they have the money! There are about 17 million singles in the USA with current aggregate income of $400 billion.
But that’s not all. BusinessWeek reported before that women will control more than $1 trillion of assets by 2010 or equivalent to 60% of the nation’s wealth.
“Solo females are not just young women biding their time until they find someone to settle down with,” said Meg Hargreaves, VP of Research Publishing for MarketResearch.com. “57% of single women currently own their own home, making it clear that women are now making the money that allows them to buy their own homes, plan their future financial security, and live fully independent lives.”
It’s not too late. You can still tweak your small business to appeal to this highly lucrative segment. Do not alienate this market or it will spell disaster!
[Via All Business]
