"Influence: How Women's Soaring Economic Power Will Change the World for the Better," is a book by Maddy Dychtwald that will hit shelves next month. In the book Dychtwald talks about women's economic emergence and effect they have on the current and future marketplace.
One chapter, that is of great interest to me, is on how women are shaping the automotive industry. Women purchase 52% of automobiles purchased in the United States and influence a staggering 85% of all sales. If that sounds like a huge number that's because it is. Those numbers place women in at least some if not all control over $80 billion dollars in spending on cars. Now that is buying power.
Unfortunately in a male dominated industry many dealers are missing the opportunity to connect with female buyers. Jody DeVere, president and CEO of Ask Patty, a site of women car experts that give automotive advice to other women, said "Men and women communicate differently and can misunderstand cues and signals," adding, "Men need to learn how to listen, and why. It makes women trust you and creates a relationship."
Until more women begin entering the industry, and some manufacturers are trying to promote it, the men need to start taking notice and making changes to how they take care of their female consumers.
With few dealerships and others in the industry slow to change Marti Barletta, president and CEO of The Trendsight Group, put it best, saying "When your starting at zero, doing even a little to appeal ao women in general can make a huge impact. The first 20 percent of your effort will get you 80 percent of your value. Most companies are not even in the beginning of the curve."
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