The Female Economy: Be Careful Of What You're Sold

Published October 27, 2009 @ 09:40PM PT

The Harvard Business Review published this article, The Female Economy, which simply says: women are the largest economic force in the global business market.

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. In aggregate, women represent a growth market bigger than China and India combined-more than twice as big, in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. And yet many companies do just that, even ones that are confident they have a winning strategy when it comes to women.

Before you get all excited, be careful of what you're sold. For years now, the corporate world has tried understand and cater to women far faster than the political clique because somehow the bottom line on Diet Soda is more demanding than the bottom line on voting precincts. (Despite my sarcasm, it is often true).

And while some get it right, a lot of the corporate and political entities still don't seem to get a 100% on the test when it comes to the female consumer. However, it is assumed that this Harvard Business Review article will put them on the treadmill to chase women quicker than anything else out there.

Just as Betty Friedan warned us in The Feminine Mystique - women are an economic force mostly because of the items we consume: vacuums, household cleaning products, suits for the husband, anti-wrinkle cream and lots of clothes - and these items can keep us from moving up the social ladder in the long run.

While Harvard and others try to understand what makes women BUY (not what makes us tick) we need to be careful of what they are selling us. We need to be wary of whether the economic force we have created offers real influence, or whether it just perpetuates another female stereotype.

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Comments (2)

I thought this article might also go deeper and look at the image of women that corporations sell us.

All women must look 17 forever, right? You better be dressed for sex and ready for action all the time. You have to buy many, many product to look "beautiful." You have to spend 3 years of your life in the bathroom on various "procedures" because your natural bodily processess are "unclean".

Maybe I read too much into it... : - )

Posted by Alexander Volfson on 10/28/2009 @ 10:19AM PT
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I think you're right; the image we are sold is directly linked to what we tend to buy.

Great point.

Posted by Jen Nedeau on 11/02/2009 @ 02:28PM PT
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Author

Jen Nedeau is a social media consultant, progressive activist, feminist speaker and writer. She currently lives in New York City, where she works full-time as the Director of Digital Strategy at Air America Media. In August 2008, Nedeau was selected to be the Editor of the WomensRights.Change.Org where she facilitates daily discussion about the feminist movement. Additionally, Nedeau volunteers as the Chief Technology Officer for New Leaders Council, a non-profit that offers exclusive training for young leaders. You can follow her on Twitter @HumanFolly or learn more here: www.jennedeau.com.