Sheconomy: Key Indicators Shaping the Future Growth Potential
Transformational growth due to increasing economic power of women
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Women make up 48% of the global population and 35% of the global workforce. In the coming years, the world will witness growing female graduates, postgraduates, and workforce, women in leadership and managerial positions, and the rise of consumer power in the hands of women. Women are emerging as decision-makers in procuring most consumer durables, health and beauty items, groceries, cars, and houses. Women from emerging nations, such as South Africa, China, and India, represent one of the highest growth opportunities for an investor today. The main sectors that the investors can focus on, keeping in mind the spending pattern of women, would be food, health and beauty, apparel, financial services, healthcare, consumer durables, telecom services, automobiles, and real estate. The female-powered economy is poised to outpace the economies of the biggest nations in the next 5 years. Tapping into this growth and understanding women as customers will be essential to business and economic prosperity. Organizations need to have more women-oriented business models to target them as customers. Corporates need to focus on women’s empowerment to help them reach the company board seats that can yield more revenue. Countries need to frame robust policies toward the development of women by reducing the gender gap in the workforce and the gender-based pay gap. Equal male and female employment rates would boost 5% to 9% economic growth in developed nations and could add 30% to the economic output of developing countries. Increasing the economic power of women will result in a shift in consumption and shopping behavior and open new opportunities in consumer goods and services businesses. The trend will also impact distribution channels adopted by companies. It will create immense potential for online retail, large-format convenience stores, and doorstep services.
This comprehensive study covers the nine Mega Trends leading the growth of women’s economy. The study includes both the recent scenario as well as the prospects of socioeconomic trends, such as the annual income, annual wealth and purchasing power of women, new consumption preferences, women’s changing social status, women talent pool, women in leadership positions in business and politics, and the rise of women-oriented entrepreneurship.
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