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.
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