This Company Gives Proven Meaning to The Power ofStrategists in this small unknown to all but the industry knew, and were proved correct, that female consumers would open their wallets – big time. That means that the 650 million women in the FLKI distribution network are an emerging powerhouse of probable sales
Shoppers throughout the West, as the techies of economic theories would say are wary of a double-dip recession, and consequently are still pinching their pennies. Global Strategy Executives at a small publicly held company Falken Industries predicted as much long before the so-called crisis. And so its intense investment in its global network of landing platforms and Super Distribution has long favored the BRIC, Eastern Europe and other developing markets.
Strategists in this small unknown to all but the industry knew, and were proved correct, that female consumers would open their wallets – big time. Retail sales in FLKI markets have grown by 25 percent annually from 2007 to 2009, making the its market sectors arguably the healthiest of any industry player in the world. Consumer confidence for FLKI product conceptions is high, and as in all other markets trading FLKI product conceptions, female shoppers are leading the way: last year women in these markets saved just 24 percent of their income, compared with 55 percent in 2006. Not unlike the 80% in the traditional west, three quarters of women say they’re the ones who control the family purse strings. That means that the 650 million women in the FLKI distribution network are an emerging powerhouse of probable sales for its distributors.
The sudden rise of this female market was a predicted and welcome event for FLKI whose consumer products are for 57% sold to women in retail concerns ranging from hard-discounters to local gas stations. For years and to the present FLKI’s multinational consumer product competitors have ignored women because their contribution to household income was small, and interest unrelated to the industry. They targeted (and continue to do so) their wares to the macho-enthusiast (8% of the market), rather than the woman whose interest commenced by the belief that a vehicle was but an extension of the household. FLKI whose President and Founder is not surprisingly a woman, then of 26 years of age, has been targeting its consumer lines of products to women since 1997 and is a global leader, with more than 160 products in the active market place, more than 170 in the pipeline and more than 200 in development.
The decision was made at inception, back in 1997. FLKI’s product conceptions would target the female market, and with good cause ; in 1950’s women contributed just 20 percent of household income, 40% in the 1990’s and then reached 50% last year. More than 50% of all registered vehicles are in the name of a woman, and women in additional to controlling a great deal of spending decisions, form a steadfast and uncontroverted 80% of the components of any decision to buy a new car.
While other companies scramble to figure out how to capitalize on this shifting dynamic, FLKI is estimated to have at least a 2-3 year head start an growing over its competitors, its most popular brand conception Clean Plus® is a standard of quality and performance which regularly reaps the number one award from trade and professional industry. Most recently it was reported the number one product recognition award from Auto Plus, the utmost respected objective trade magazine in France. FLKI product conceptions have one coveted awards across the world including the European Product Innovation Award for a line of disinfectant hand care products devised for police and military concerns.
What is now becoming a nuanced, and in many ways for the industry more helpful picture is emerging. Women tend to shop more frequently than men, and spend more on cleaning product, notably they view automobile car care as just another assortment of cleaning products.
Helping FLKI product conceptions as well is the recent advertising and marketing blitz by many global leasers targeting women directly. Women are 57% of all sales of FLKI product conceptions. “The future of car care is female” concludes Manuel Garcia, Communications Officer of FLKI, “and women know and want our company’s product”.
Women are pragmatic consumers, and given performance and quality tend to be brand loyal “their intense focus on value explains the continued success of our consumer lines” added Garcia.
Men tend to buy brands they prefer for lack of alternative experimentation, they like to pay more because high price argues, often falsely, greater value and performance, but females re skewed to buy the best deal sacrificing nothing to quality or performance.
One thing remains clear, female spending will likely continue to rise, with studies revealing that women surveyed planned on spending more in the second half of 2010 than they did in the first. FLKI radiates this trend and their enthusiasm is clearly linked and dependent of sort to the term “the power of the purse.”
Falken Industries Ltd OTC : FLKI is a diversified industrial conglomerate that operates in Chemicals, Wet Wipe and Biodegradable Technology. Falken Industries Ltd is the concept behind more than 160 products distributed through a network of global platforms and the recipient of trade awards for innovations, biodegradability and environmental and health quality standards.