Women decide 80% of all travel decisions
For as long as I can remember, my mother has been performing vacation miracles in independently finding unique accommodations and excursions for my entire family to enjoy; her care and attention to detail have manifested in authentic, culturally immersive experiences. My mother, then, is one of millions of women who together decide 80% of all travel decisions, from hotel bookings, to destination selections, to restaurant reservations. With women wielding a remarkable 85% of total consumer influence, the female consumer is particularly empowered in the domain of hospitality decision-making.
Women occupy just 3.2% of CEO positions in hospitality, globally
With so much influence in regards to hospitality decision-making, one would expect women to occupy a large share of executive roles in the industry, right? Wrong. Just 1 out of 31, or 3.2% of CEO positions in hospitality are held by women globally, a staggering statistic considering women’s significant consumer influence. With so much power in the marketplace, why do women not have a larger voice on the corporate side advocating for their specific and unique needs? This was the sort of question that sparked the founding of Heels Make Deals, a creative agency developed by women for women, to help brands better connect with their female audiences.
Why should the hospitality industry target female consumers?
First, women tend to demonstrate a higher willingness to spend, specifically when a greater price tag is correlated with an exclusive or memorable experience. A few extra bucks are inconsequential when they make up the difference between a drink at a bar and a drink on a rooftop with a gorgeous view. In fact, one study found that women placed higher importance on vacation motivations relating to mental relaxation, escape, physical activity, and learning about places and cultures relative to men.
Second, women are natural marketers, an invaluable asset to the hospitality industry, where the quality of services is often difficult to conceptualize without guidance. Women have on average around 10% more brand conversations each week relative to men, providing consumer advice considered “highly credible” over half of the time (58% of the time, specifically). So when women like something, they share it, making their word-of-mouth marketing a valuable social influence in the purchasing decisions of others.
Third, women are frequently the decision-makers when it comes to dining and entertainment decisions for their friends and families. Acting essentially as gatekeepers, winning over women equates to winning over their respective circles, where female decision makers attuned to the preferences of their friends and families seek and share advice in the interest of maximizing the group’s satisfaction.
In summation…
By understanding and embracing the preferences and behaviors of female consumers, hospitality businesses can enhance their offerings, build stronger connections, and drive greater engagement and loyalty.
Looking to elevate your hospitality brand?
We're here to help. At Heels Make Deals, we specialize in creating compelling branding strategies and innovative activations that resonate deeply with target audiences. Explore our website for a comprehensive list of our services, and be sure to schedule your 15-minute complimentary consultation!
Are you interested in more about the topic of female targeted marketing? We focused on the topic of women and hospitality in this article:
What women want from the hospitality industry – Harnessing the Potential of Female Guests
read here
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Heels Make Deals Partners with Pernod Ricard Germany to Highlight Women’s Influence in Hospitality
Works Cited
Women decide 80% of all travel decisions
https://www.forbes.com/sites/michaelgoldstein/2024/02/22/women-love-to-travel-men-not-so-much/
https://gutsytraveler.com/women-travel-statistics/
Women occupy just 3.2% of CEO positions in hospitality, globally
https://www.ahla.com/sites/default/files/woman_in_hospitality_industry_leadership_final_0.pdf
Women have on average around 10% more brand conversations each week relative to men, providing consumer advice considered “highly credible” over half of the time (58% of the time, specifically)
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