The world is a big place and something new is always happening. So what happens when the biggest market of all, women, start spending more money on beauty products? How will that affect your business or career? What does it mean for the future of marketing in general? It’s time to get educated.
The “female economy 2020” is the female market that is predicted to be worth $28 trillion dollars by the year 2020. This data has been taken from a study that was conducted in 2014.
Hmmmm… Today in the Harvard Business Review, Sylvia Ann Hewlett writes Why Women Are the Biggest Emerging Market. She has some compelling numbers:
Deloitte Touche Tohmatsu’s launch of its second annual webcast honoring International Women’s Day declares that women leaders are the new force driving the global economy. Women’s earned income is increasing at 8.1 percent in emerging countries, compared to 5.8 percent for males. Women control approximately $12 trillion of the $18 trillion in total consumer expenditure worldwide, a number that is expected to grow to $15 trillion by 2014.
Do you tailor your marketing message to appeal to one gender over the other?
Is it possible to concentrate all company offers to one gender or the other? Is it true that certain people are unable to do so? Should you or shouldn’t you?
Is it the message itself that appeals to women? A product or service that is gender-neutral but has a gender-focused marketing message?
This region is riddled with contradictions. With a few notable exceptions, I find concentrating on gender in marketing to be unsettling. Stereotypes emerge as a result. It breeds contempt in a variety of ways.
May all genders be equal in terms of freedom, choice, opportunity, education, earning capacity, and power. But it’s unlikely that this will happen without erasing gender disparities. Real gender differences, not socially created or imagined gender disparities.
The “female buying power statistics 2020” is a statistic that shows that women will soon be the world’s biggest market. This statistic has been around for a while and it is expected to continue.
Frequently Asked Questions
Are women bigger consumers?
A: This is not an easy question to answer, as there are many factors that go into such a decision.
How much women contribute to the global economy?
A: The success of women in the global economy is growing, but they still only make up 24% of it.
What is female economy?
A: Female economy is an economic theory that argues for greater rights and opportunities for women in the work force. There are many different theories of what female economy entails, but its generally accepted as advocating policies which specifically improve womens access to employment
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