This Women’s History Month, brands want to take the occasion to capture female shoppers’ spending, but some of their methods may be more effective — and more in touch with what women actually want — than others.
On the wackiest end of things, cryptocurrency exchange Binance is trying to get women into crypto by attracting them with a themed fragrance, launching a scent dubbed simply “Crypto,” sold at a pop-up shop in a mall.
“Bold, distinctive, and deliberately disruptive, CRYPTO isn’t a scent we’re marketing — it’s a message to women that they have a significant role to play in the crypto revolution,” Rachel Conlan, the company’s chief marketing officer, said in a statement.
Meanwhile, beer brand Modelo is dropping a magazine highlighting women lowriders who are “shaping culture,” though it is unclear whether a publication that combines chicks, beers and cars is the perfect way to reach the female demographic.
“Modelo has always stood for those with grit and tenacity who demonstrate the mark of a fighter — traits the lowrider community certainly embodies,” Logan Jensen, senior director of brand marketing, said in a statement. “With the return of Lowrider magazine, we’re able to highlight the women of this community who have been a critical part of its growth and evolution.”
Hershey’s is taking a morning-affirmations-esque approach, with packaging that highlights the “she” in its name and that lists “more than 200 adjectives … that describe the powerful, reliable and brilliant women who surround us.” So, for women who want a chocolate bar to tell them that they are “persistent” and “intentional,” they’ve got just the candy.
Gym chain Planet Fitness, for its part, launched an apparel collection in partnership with musical artist Megan Thee Stallion, dubbed Thee Hottie Drop, donating proceeds to women-centric organizations. The gym wear includes clothing sporting slogans such as “bad bitches have bad days too” and “real hot girl fit.”
Competitor Blink Fitness, meanwhile, taking a more experiential approach. The fitness center is trying to get girls into lifting, adding a free event targeted at high-school-age girls to its “Women in the Weight Room” series, gifting gym memberships to participants.
The 2022 PYMNTS Intelligence study “ConnectedEconomy™ Monthly Report: The Gender Divide Edition” found that women transact online 34% less than men, on average. This means that the average number of women who carry out various digital transactions online is far less than seen among their male counterparts. The average male consumer participated in 14.3 transactional activities online in October 2022, for example, while the average female consumer engaged in just 11.5 activities online.
Plus, women were found to be less inclined to make any type of transaction — whether online or in person. Even offline, women transact 15% less than men. Yet transaction rates do not tell the full story. Women’s spending power goes a long way toward shaping the economy.
Take this past summer, with the Barbie movie bringing in $1.4 billion at the box office, and with Taylor Swift’s eras tour also bringing in more than $1 billion. Plus, Beyonce’s Renaissance World Tour made $579 million.
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