Biz Women Gaining Ground

America women control more than 60 percent of all personal wealth in the U.S., constituting the number three market in the world with collective buying power that exceeds the economy of Japan. And, amid the corporate layoff-laden, recession-driven entrepreneurism boom, women are launching their own businesses at twice the rate of men.

This demographic has evolved exponentially, and is now a force to be reckoned with, says nationally-regarded speaker, business acceleration expert, and corporate CEO Michelle Patterson, executive director of the California Women's Conference (www.californiawomensconference.com)-a women's conference known for its star-studded speaker lineups that have included Barbara Walters, Oprah Winfrey, Jane Fonda, Queen Noor of Jordan, Tyra Banks, Martha Stewart, Madeline Albright, and Condoleeza Rice, among others.

Female Factoids
Just how powerful are women in today's marketplace? Consider these numbers:

• Women account for 85% of all consumer purchases, including everything from autos to health care
• 91% of New Homes
• 66% PCs
• 92% Vacations
• 80% Healthcare
• 65% New Cars
• 89% Bank Accounts
• 93% Food
• 93 % Over-the-Counter Pharmaceuticals 

In fact, American women spend about $5 trillion annually; over half the U.S. GD.

(source: She-conomy.com)

-  Women purchase more than 50 percent of traditional male products, including automobiles, home improvement products and consumer electronics, according to girlpowermarketing.com.

-  Senior women age 50 and older control net worth of $19 trillion, according to MassMutual Financial Group-2007.

-  Over the next decade, women will control two thirds of consumer wealth in the United States and be the beneficiaries of the largest transference of wealth in our country's history. Estimates range from $12 to $40 trillion. Many boomer women will experience a double inheritance windfall, from both their parents and husbands. The Boomer woman is a consumer that luxury brands want to resonate with. (source: Claire Behar, Senior Partner and Director, New Business Development, Fleishman-Hillard New York)

-  In the U.S., 75 million moms make or influence 85 percent of all household purchase decisions, representing $2.1 trillion in annual spending power, per girlpowermarketing.com.

-  91% of women in one survey said that advertisers don't understand them (source: She-conomy.com )

Michelle Patterson is CEO of Event Complete-a full service event management company.  Patterson is regularly called upon by government agencies, corporations, and nonprofits to help them create memorable and high impact events. Her most recent endeavor is the California Women's Conference. Learn more about Michelle Patterson and her endeavors online at www.eventcomplete.com.