We're pretty sure 99% of men would say, "No." However, we're more positive, especially when it comes to shopping. It may not be easy - you need to listen, watch and interpret your learning very carefully, but it's definitely possible.

In March, we issued our first online survey through the Suburbia Shopper Panel to determine the response of shoppers to the economic downturn. In particular, we wanted to know how the preferences of women differed from men. Here's what we learned:

• Everyone is shopping less, especially men. Almost half of women (48%) and even more men (57%) are shopping less than they were a year ago. Only 13% of women and 14% of men report they are not shopping less.
• Both men and women are shopping with a target. 71% of women and 79% of men shop to get what they need first and foremost.
• Shopping is a pastime more for women than men. Women are more likely to shop to socialize or relax.
• Discounts are more motivating for men. 62% of female shoppers are compelled to purchase more by a discount compared to a whopping 93% of men.
• Promotions attract women more. While 18% of women are motivated by promotions such as "Buy One, Get One Free," 0% of men are encouraged by this promotion. And while 7% of women like a gift with purchase, none of the men said this would motivate them to shop.
• Women are more value conscious. 62% of female shoppers are most likely to look for best value, compared to 57% of men.
• Shoppers are more careful. Comments from poll respondents reflect a shift to discounted merchandise and "value stores" such as Walmart compared to a year ago.

Clearly, women are shopping less, and when shopping, they are being careful and shopping to fulfill needs first and foremost. Frugality is replacing frivolity. Mickey Drexler, chairman of J. Crew likens today's situation to consumers hitting the "reset button." What does this mean for retailers?

Focus on Value

Never before has value been more important. Revisit your value proposition and determine if your organization is truly delivering upon it in expected and unexpected ways. Make a significant commitment to protecting and building upon where your organization is strong in terms of delivering its value proposition, and addressing where it is weak. Do it now and with great urgency. Remember, if consumers do not feel they are getting value, they will seek out alternatives - many of which are lower priced.

Mission Accomplished

Make it easy for your customer to find what she is looking for and to complete the purchase - remember, many are shopping with a specific goal in mind. If she can't find it, if it's not in stock, if it's not priced properly (or at all), and/or if sales representatives are unavailable when needed, there is a good chance you will lose a sale.

Understand the Time

Recognize that women will always love to shop, but that we are experiencing a very real and significant shift in values and attitudes toward consumption. Powerful themes around the ideas of simplicity, conservatism, understatement, and back to basics are evident in much of today's media and thought leadership - across channels and genres. Think about what these themes mean for your business and how you can let your customers know that you empathize with the times, and have solutions that are relevant and appropriate. Whole Foods, for instance, has begun introducing initiatives such as "3 for $3," and "dinner for $10." Even the February issue of Vogue had a banner on the cover stating "Simple Luxuries - Balancing Your Clothing and Beauty."

Reinvention is the New Making-Do

Tough times breed innovation and creativity. This is proving true once again as today's women look at ways to reinvent their wardrobe, homes, yards and self-care programs without spending a fortune. Women across the country are cleaning out their closets and looking at ways to refresh their style with accessories and/or a few simple additions, versus impulse purchases, or costly indulgences. Similarly, they are looking at their homes and getting rid of clutter, organizing and appreciating what they have, and updating rooms with a simple coat of paint or new accent colours. Think about the role of your organization and brand when it comes to areas of possible reinvention in your customers' lives.

Staycations are Here to Stay

Staycations involve staying at home and relaxing. Instead of spending on dinners out, movies, theatre, special clothes, babysitting, sporting events, and spas, consumers are bringing the essence of “a night out” into the home to save money and stay on budget. A bottle of wine, DVD, and nice dinner at home for two costs about $40 or less; the same combination for an evening out easily runs well over $100. Think about your organization and the role it could play in contributing to a Staycation for your customers, and implement a program accordingly.

The reset button has been pushed. How, where and why women shop will change depending on the situation. But they will continue to shop. Watch, listen and interpret your customers' needs carefully – you’ll find it is possible to understand what women, and men want.