With their growing purchases and influence in the world, women are starting to change the way we do things. Women are not just a niche demographic; they are the world. Today, the average woman is more than a productive member of society. She’s a buying agent and a leader. Forecasts show women will become the largest spending demographic by 2020. Looking at the world as a whole, how does this affect national economics? With growing influence, how will this change our daily habits? The impact of women’s consumption is wide-reaching. Let’s take a look at some of the ways.
Consumer Behavior
Women’s spending power is on the rise, and it’s projected to continue. This indicates that women are taking on a larger role in society. Women have more spending power than ever, which impacts the economy in many ways. Women can influence the market by buying products they would want to see in stores, influencing where retailers place their products, and who they choose to buy from. In some countries, women make up at least 40 percent of the population. Here’s what this could mean for your country: – The number of female consumers will rise globally as populations increase with women having increased access to resources, education and opportunities – More women will contribute to market segments such as luxury goods and electronics – Consumer demand for products will grow based on the increasing amount of money available (credit) from more women entering the workforce
Lower Spending Age
The average woman is now over 40 years old. She doesn’t have the same spending power as her younger counterparts. As a result, women are changing the market by lowering their spending. However, women still spend more than men and will continue to do so.
Higher Saving Rate
Women are more likely to save than men. In a study, women saved an average of 20 percent of their income while men saved only 3 percent. This is significant because the difference between these two numbers generate millions in savings for our country’s economy.
More Gender Equality and Empowerment
Women’s consumption habits are beginning to shift, and this change is making a huge difference in the world of women’s rights. The rise of women’s spending power is empowering them to participate in society. When women have the means to purchase products that encourage equality and empowerment, it helps shape a better world for them as well as for their children. Women are also helping to shape the global economy by supporting local economies and spurring more sustainable practices. They are encouraging other countries to be more environmentally-friendly. With their growing purchasing power, women are changing how we do things around the world. The impact of women’s consumption is wide-ranging. Let’s take a look at some of the ways it shapes our daily lives today:
The Bottom Line
Women are not just a niche demographic; they are the world. With growing influence, how will this change our daily habits? The impact of women’s consumption is wide-reaching. With their growing purchases and influence in the world, women are starting to change the way we do things. Today, the average woman is more than a productive member of society. She’s a buying agent and a leader. Forecasts show women will become the largest spending demographic by 2020. Looking at the world as a whole, how does this affect national economics? With growing influence, how will this change our daily habits?