Price conscious women make ‘savviest shoppers’, Optimove

It’s official. Women are smarter shoppers than men. Although they make 2.5% more orders than guys, they save on average over 7% due to a preference for discounted items, according to research by relationship marketing platform Optimove.

This is based on data from 66.5 million retail customers across Europe. Roni Cohen, Data Science Team Leader, comments: “In the world of retail there has been a longstanding assumption that women will pay more than men, and with many retailers recently sticking a higher price tag on Valentine’s cards addressed to husbands, it is clear that this notion still exists. However, our research demonstrates that this is far from the truth. In fact, women are without a doubt the savviest shoppers, favouring discounts and remaining loyal to retailers which increases their chance of personalised rewards.”

Retailers can best serve their female demographic by offering discounts up to 30%, Cohen believes. “Our research highlights that women are more likely to return to the same retailer after their first purchase. But this shouldn’t be taken as gospel - if retailers want to retain their female customers, they must give them a reason to stay loyal. Engaging female customers with personalised offers and rewards, such as birthday gift vouchers or offering free delivery as part of a VIP service, is a great way to provide the treatment they deserve. If customers aren’t treated exceptionally - regardless of gender - they will inevitably go elsewhere.”