The rise of women's spending power
Welcome to the bi-weekly update (#197) where we dive deeper into key topics, themes or issues specific to women and their lived experience.
The summer of 2023 has demonstrated how much purchasing power women have, especially when it comes to products and services which cater to them.
Although women been making 85% of consumer purchasing decisions for quite some time now, it appears that the power of the purse is finally making waves (and headlines) not seen before.
The film ‘Barbie’ reached $1bn+ in box office sales and both Taylor Swift's Eras Tour and Beyonce's Renaissance Tour sold out in every city and grossed millions of dollars.
And the media, known for its gender bias, has shifted its focus and tone to celebrate women and their spending power.
The Wall Street Journal has written about how ‘women own the summer’ and ‘by turning up in groups women created a multiplier effect and propelled watershed success for Barbie, Taylor Swift and Beyonce’.
And MarketWatch has acknowledged that ‘women may be better positioned than ever to flex their financial strength'.
But is it that women have more disposable income or that women’s interests are being better represented and catered to? Or both.
Could it be that women’s spending power is finally taken seriously?
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