Wealthy Women Control Household Purse Strings

For women, shopping should be an Olympic sport

Wealthy women were responsible for 64% of family buying decisions, according to a recent Luxury Institute survey of women in US households with $150,000 or more in annual income.

Women in these affluent households had varying levels of influence in different areas: 68% made the buying choices for ovens, ranges and refrigerators, and 61% were responsible for family vacation decisions. About half handled healthcare decisions and home improvement purchases.

When it came to family investments, 22% of wealthy women who were married made all the decisions by themselves and two-thirds made them jointly. A full 46% were responsible for the family’s bank accounts.

More than three out of 10 women in wealthy households said they dealt with real estate purchases for the family, and four out of 10 respondents had the final word in the family regarding cars and consumer electronics.

Luxury Institute Via eMarketer