Ka-Ching! Average Woman's Spending Tops $100,000
By: It sounds like more women are channeling Carrie Bradshaw’s quote, “I like my money right where I can see it — hanging in my closet.”
According to a new poll from Sure Women Linen Dry, the average British woman spends with "Sex and the City" enthusiasm to the tune of around $103,000 during her lifetime.
Shelling out a cool six digits translates to an average of 271 pairs of shoes, 185 dresses and 145 bags. Despite this, 60 percent reported they sometimes felt the pangs of having nothing to wear to work or an evening out.
The damage for women under the age of 25, who fall into the Millennial generation, is even greater at around $160,000 over the years. Retailers see a potential windfall in these high spenders.
Recently, many companies, including Gap and Macy’s, have ratcheted up their marketing toward Millennials, who lack the etched-in-stone brand preferences of older generations.
But this picky (and financially struggling) demographic has not been an easy market to catch. Although the group has shown strong interest in high-end retailers, they prioritize value in their spending and go to great lengths to find a bargain — good for consumer wallets but bad for companies’ bottom lines.
The poll follows slightly better-than expected British retail sales in May. Monthly volumes grew as stores ramped up their sales offerings to an annual 11.3 percent rise — the highest in more than a decade — to coax consumers to spend despite the country's recession.
Questions? Comments? Email us at consumernation@cnbc.com. Follow Katie Little on Twitter @katie_little_.
