Gender and Shopping

Updated 8 months ago

In the last few weeks we’ve talked about the different perspectives men and women have concerning investing. Today I want to talk about the differences that men and women have about spending money. You may have already observed some of these traits in a man or woman that you know, but there is science to back up the observations. This information is general, as people are who they are and don’t always ‘fit in a box.’ In a study by Wharton Business School titled, “Men Buy, Women Shop,” men rate their shopping experiences – in general – by how quickly they can get checked out and leave the store. Women want personalized service, with help from sales associates and ideas for purchases. Men, according to a comedian quoted in Psychology Today, buy a shirt and wear until it dies, then go out and kill another shirt. Women begin shopping for birthday and Christmas gifts well in advance of any need. Studies hypothesize that men are hunters, women gatherers. It’s not that men don’t spend money, because they do. They spend money faster and with fewer returns than women. Women are more likely to shop for things they don’t need and to use shopping to feel better. Men rationalize that their wants ARE needs, so it may be harder to evaluate the wants versus needs aspect. So, what have we learned in the past few weeks? Men and women are different in their communication, view of, and handling of money. Communicate with each other regularly for the best relationship results. And don’t be surprised by the other person’s perspective! Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc., are separate entities, independently owned and operated.


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