Do you have any idea of the spending power of Moms? In a recent report prepared by MarketResearch.com, it was noted that Moms are instrumental in spending nearly $200 billion per year (yes that is with a ‘B’) just on groceries and food purchases alone. In total household spending per year, that number is well over the TRILLION dollar mark (yes that one is with a ‘T’ and a bunch more zeros). It is no wonder that Moms are generally the primary target of advertising and promotions from brands and retailers alike. I am proudly one of over 85 Million Moms in the US and WE contribute a tremendous amount of purchasing power in today’s marketplace. But do brands truly understand how to access and activate the loyalty of my buying sector?
Modern Moms are a different breed from June Cleaver. Our hair is less perfectly coiffed, we have traded in impeccably ironed party frocks for casual wear and jeans, our social engagements are limited to weekends because we’re usually working during the week, and we know better than to wear real pearls because our babies will just yank them off anyways.
But the differences are not just cosmetic. We have tuned into technology in ways that would utterly horrify poor June. Nielson recently unveiled a report that indicated that Mom is embracing technology more rapidly than nearly any other segment. Smartphone adoption among mothers has risen to 65%, and Mom is 58% more likely to shop on her smartphone than the rest of the population. And according to a report released just this month by BabyCenter and comScore, Mom is 20% more likely to use social media than the general population. She wants to network with other mothers, gain advice from people in her same situation, share her experiences, look for ways to help her kids and family, and voice her opinion across multiple social channels – all from her mobile device.
An accompanying survey from BabyCenter and comScore has even more impressive stats:
- 59% of moms reported having bought something because a brand posted a special offer or incentive on a social network,
- 44% indicated they made a purchase because they saw a friend like or post about the brand.
Brands, sit up and take notice! We Moms check our Facebook and text messages first thing in the morning, not our email, and what we are reading from our Mom friends greatly influences our purchasing behaviors. What we share in turn greatly influences our friends’ purchasing behaviors.
Moms are also savvy and have a great recognition of perceived value. We are eager to share that information with other moms across multiple social channels. As a rule, we will quickly spread the word about negative or highly positive experiences with a brand. We know when a ‘freebie’ is a waste of our time, we recognize when we are being offered premium value – and we will be loyal to brands that differentiate between the two and acknowledge our purchasing power.
What does all this mean for your brand, and are you truly achieving your potential with the largest buying segment in today’s marketplace? Are you engaging with Mom (with ME) across these social channels? Are you offering a quality incentive for me to be engaged with your brand, and in turn become a loyal brand ambassador for you?
As the obvious influence of the social media space continues to flourish exponentially and my fellow Shopper Moms roar more loudly, brands that understand, adjust, and respond accordingly to Mom’s buying supremacy, will in turn be rewarded with more from Mom’s wallet. Not to mention the even more valuable prize – Mom’s loyalty voiced across her social media channels.
Cyndi Walker, VP Operations