Here Comes the New ‘Mom-acracy’

Posted on | May 27, 2009 |

By Greg Furman, Founder/Chairman of The Luxury Marketing Council

America is Quickly Moving to a New “Momacracy”

A telephone survey of 100 CEO Luxury Marketing Council members and, separately, a spring survey by PR firm Fleishman-Hillard, strongly suggest that America is moving to a New Matriarchy.

Women in the luxury arena in the last 15 years have accounted for upwards of 70 percent of the major buying decisions. Now that number, says the Fleishman study, which was recently presented to members of The Luxury Marketing Council, could be as high as 90 percent of all buying decisions.

Highlights

89 percent of women interviewed define success on their own terms and see themselves as successful; 59 percent say “highly successful.”

The definitions of ’success’ are changing - control of one’s destiny, pursuing a self-defined, self-directed destiny, wanting to be judged by her character and personal strengths, are among the most important features.

The “momacracy” rules - women see themselves, and in practice are, the household CEO, CFO, CPO (Chief Purchasing Officer) and COO.

They are most passionate about:

First and foremost FAMILY, LOVE, CHILDREN, TRAVEL, BOOKS, HEALTH

EDUCATION - (surprisingly ‘career’ seen as means to these ends)

Are wired to new media - have profiles on social networking sites, read blogs, post comments about products/services online.

Supremely confident about recession 95 percent will ‘make it through successfully,’ see it as a time of great opportunity; 64 percent say 2009 will be a better year financially.

Most believe marketers are missing the mark on marketing to Moms.