Share-of-wallet (SOW) is a survey method used in performance management that helps managers understand the amount of business a company gets from specific customers.
Another common definition is the following: Share of Wallet is the percentage ("share") of a customer's expenses ("of wallet") for a product that goes to the firm selling the product. Different firms fight over the share they have of a customer's wallet, all trying to get as much as possible. Typically, these different firms don't sell the same but rather ancillary or complementary product.
Forte Consultancy says: "The percentage of a customer’s spend that is with a given company over a given amount of time. For a gas retailer, for example, it’s the number of times a given customer fills up their car’s gas tank one month at their own pumps divided by the total number of times the same customer fills up their car’s gas tank that entire month. So a customer who fills up his or her car’s gas tank four times a month with three of those fills at one gas retailer is giving that gas retailer 75% share of their wallet."
Famous quotes containing the words share of, share and/or wallet:
“As Labor is the common burthen of our race, so the effort of some to shift their share of the burthen on to the shoulders of others, is the great, durable, curse of the race.”
—Abraham Lincoln (1809–1865)
“I am for those who believe in loose delights, I share the midnight orgies of young men,
I dance with the dancers and drink with the drinkers.”
—Walt Whitman (1819–1892)
“It seems to be a law in American life that whatever enriches us anywhere except in the wallet inevitably becomes uneconomic.”
—Russell Baker (b. 1925)