A billion working woman worldwide generate approximately $9 trillion in disposable income. Through educational achievements and closing of the gender wage gap, it is projected that in the U.S., women will out earn men by 2028. Companies and organizations that understand her and cater to her needs will win long term. How? They must listen to her dissatisfactions and respond – basically give her want she wants. What does this mean for women’s fashion? It starts on the runway. Survey data shows that women are more apt to buy clothes worn on models who look like them. Not only are we talking about women of all races, but also women of all ages and sizes. A woman who is a size 14 isn’t going to be inspired by what looks good on a model size 2, just as a woman over 40 is not going to buy what’s worn by a teenager. If you ask any woman on the street, this is no surprise, yet the fashion industry continues to project an image that looks nothing like most women. The question is whether advertising agencies can be enticed into projecting more realistic images of women. In the meantime, what can women’s clothiers do to attract sales? Simple. Determine who your target market is and give them what they want. Take the U.S. retailer, Chico’s. According to Women’s Wear Daily, they veered off the last few years, first trying to appeal to a younger demographic and then going too matronly. But when they began to survey their customers, they revamped their styles to offer more modern styles and profits are up. Another simple change that has reaped rewards for them is merchandising the stores by color so the customer can easily find a piece to compliment her existing wardrobe or find a whole new look. Displaying a complete look, including jewelry also pays off. Many women are looking for guidance and will respond to what’s on the mannequin. It’s no secret that the world economy is in a slump. Retailers have to think out of the box when it comes to attracting and keeping customers. One of the most low-cost methods is to simply ask your customers what they want and then give it to them.
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