- The global consumer economy of women is valued at $28 trillion, whilst the overall consumer economy totals $35 trillion. That means women control 80% of consumer purchases globally.
- A 2015 Ernst & Young report reported that by 2025, women will be responsible for 75% of discretionary household spend.
- Women make the FINAL decision in 80% of category purchases including automotive, finance and FMCG.
- Women are worth more than 2x the value of India and China’s emerging markets put together.
- If we were to increase a country’s female labour participation rate equal to the average of Nordic countries (60%), any country could add 10% GDP per capita.
GENDER MYTHS DEBUNKED
- Gender is not a woman’s issue. Gender affects our attitudes to representations of both men and women which in turn impacts our workplace cultures, business lenses and external marketing messages. Improving and up-skilling your company’s understanding of gender is beneficial for everyone.
- Gender segmentation gets confused as discriminatory behaviour. It’s about recognising our gender differences and better serving the needs of each – just like how public bathrooms were designed.
- Gender, in this context, is not related to sexuality. Sexual preference and identity may inform segment characteristics but ‘male and female’ are still the anchors of the gender spectrum regardless of other preferences.
- Gender segmentation does not mean budget splitting, dilution nor doubling the workload. Instead we identify the weighted value of your male and female segments and the gender that your business is currently ‘unconsciously favou
ring’ to establish your best business case.
- Having a female workforce does not mean you’ve got the ‘gender thing’ right. Business must first expand to include and value the female lens internally; then leaders should commit to educating their teams about unconscious bias and the value of the female proposition. That’s when you’ve got ‘gender right’!
WOMEN ARE THE PERFECT AUDIENCE FOR MAKING MORE MONEY.
Despite the fact that they out-spend, out-earn and out-live men – they continue to feel they have been undervalued, overlooked and misunderstood. They are a massive untapped market opportunity looking for someone like you who gets them.
Connecting with women will increase your share value, profits and long term viability because:
- They deeply invest and commit to brands they love and their connection endures once it is made.
- Their self-built communities act as your promotional hubs and innovation incubators cutting down on marketing waste.
- They are increasingly educated – 63% of Australian graduates in 2015 were women.
- Mums have generational influence over their families meaning product and service loyalty is passed on.
- Research has proved that getting it right with women will most likely mean that you’re getting it right with men.
- Very few brands have tapped into this opportunity, thus there is ample room for your brand to take on early adopter advantage before your competitors.
- Since 2004’s Campaign For Real Beauty celebrating real women and real beauty; Dove’s sales jumped from $2.5 billion to $4 billion.
- Nike is projecting its current $5 billion womenswear market will nearly double in five years and reach $11 billion by 2020.
- Adidas has cottoned onto Nike’s lucrative strategic female market push, and plans to increase their female market share to 28% within 4 years.
- Procter & Gamble’s Always #LikeAGirl campaign achieved 85 million global views on YouTube, double digit percentage increase in brand equity and incredible social change.
- Wives of Australian vegetable farmers found a way to turn their “wastage” or “stock feed” carrots from $50 a tonne into a $5000 a tonne business, simply by resolving the problem through their female-lens.
- DeBeers saw an increase of 15% in sales when it turning the engagement ring into the empowering “right hand ring” aimed right at its lucrative, single female audience.
- India’s P&G Ariel brand campaign ‘Share The Load’ disrupted its category through a creative refocus on the contribution of women in a paternalist society. It has won top awards, and doubled its value and sales by 106% and 105% respectively.
- In Australia alone, the total value of the women’s sport sector could peak at a record high $3.8 billion by 2032 and contribute a third of all growth in professional sport.
- SKII “Marriage Market Takeover” campaign that delved into the insecurity, loneliness and marriage expectations of single women in China, helped increase sales of their product by 50% from June 2016 – February 2017.
- Chinese smartphone maker Xiaomi will break the 100 million mark thanks to their pursuit of the female market in 2017, says CEO Lei Jun. In less than 6 months, Xiaomi will triple their number of female smartphone users and double their share of total users to 20% by designing high-end smart phones with female-friendly features and marketing to their needs – specifically with a fan favourite hunk, a break from their normal advertising practices.
Imagine the opportunities and profits waiting for your brand when you begin to see through a female-lens. Download my white paper for more information.