The Female Economy (2024)

FAQs

What is the female economy? ›

Women now drive the world economy. Globally, they control about $20 trillion in annual consumer spending, and that figure could climb as high as $28 trillion in the next five years. Their $13 trillion in total yearly earnings could reach $18 trillion in the same period.

Daily, women spend more time than men making economic decisions for their families, encompassing everything from consumer goods to services. Women drive 70-80% of all consumer purchasing through buying power and influence.

While any business would be wise to target female consumers, they say, the greatest potential lies in six industries: food, fitness, beauty, apparel, health care, and financial services.

The Women's Economic Empowerment team focuses on increasing women's power and influence by removing barriers to work, enabling decent work, and supporting women's enterprises in order to help women and girls thrive in the economy. We look for ways to reach large numbers of low-income women.

The expression “girl economy” has become a new buzzword, littering the titles of many recent articles. The phrase is being used to describe the goods and services that directly target women (Zhang, 2023).

In 2022, women saved on average $3,146, while men saved an average of $7,007, according to the New York Life's 2023 Wealth Watch survey. By the time women retire, we have 44% less saved than men, according to a Vanguard study.

Women earn 84 cents for every dollar men make — or even less : NPR. It's Equal Pay Day. Women earn 84 cents for every dollar men make — or even less Women working full-time, year-round jobs earn 84 cents for every dollar men make, and part-timers make even less.

“It shows that there is a fundamental form of inequality at the top related to gender.” The world of billionaires and millionaires, measured by wealth, also remains a predominantly male club. Of the nearly 2,500 billionaires in the world, only 294 (around 12 percent) are women, according to Wealth-X, a research firm.

Which gender is more generous? ›

Single women donors on average give higher dollar amounts to charity than single men. Divorced/separated, never-married, and widowed women are more likely to give, and give higher amounts, than their male counterparts. As women's incomes rise, they become more likely to give to charity than their male counterparts.

found that women reported more health problems than men, regardless of economic status (52). Older women in both developing and industrialized countries are more likely to live alone than men (53).

The “Sheconomy” signifies women's escalating economic influence. Greater workforce participation by women, educational advancements, and societal changes have contributed to this shift. Financial professionals can adapt with tailored strategies to better serve their evolving female clientele.

Myth: Women are more likely to spend more money

The Bureau of Labor Statistics' 2021 Consumer Expenditure Survey showed single men spent an average of $2,365 more than women, spending more than double on alcoholic beverages plus higher averages on car and entertainment purchases.

Speak to their values, meet their standards for quality, and provide them with the experiences they crave, and you'll win not just customers, but advocates for your brand. Navigating the preferences of the 30-40 year old demographic requires a blend of reliability, quality, and meaningful engagement.

Feminist political economy enables us to understand who, what and how in the relationship between social, political and economic structures of power, resources and access to them.

Women's economic empowerment includes women's ability to participate equally in existing markets; their access to and control over productive resources, access to decent work, control over their own time, lives and bodies; and increased voice and meaningful participation in economic decision-making at all levels from ...

Gender economics builds on economic theories and empirical methods to understand. the mechanisms behind gender inequalities.

Feminist economics call attention to the importance of non-market activities, such as childcare and domestic work, to economic development. This stands in sharp contrast to neoclassical economics where those forms of labor are unaccounted for as "non-economic" phenomena.