According to a number of researchers, due to the fact that women consume more, they have become perfect customers. Such a finding definitely changes the target point of a number of marketers. Since women are generally more interested in their purchases and, in majority of cases would compare prices of a product they are willing to buy (whereas men would simply grab the first product they need without a comparison), it creates competitiveness among companies and makes marketers target women, making the whole economy women-oriented.
Women – perfect customers
Sheconomy, or womeneconomy is a new term, which means a rise of economy due to women participation both internally (since women are actively participating in business and their earnings have increased substantially) and externally (consumption and consumerism). Women have become earners, adding a marginal amount to family’s budget. Not only have they become earners, but also competitors: in majority of cases one could see that women have started earning more than men. One could easily observe that woman’s role in a society is changing: a couple of decades ago it was still surprising that a women would rather choose career over having children and, after all, would manage a successful competitive career with a rewarding pay. Surprisingly enough, it is said that about a third of women outearn their husbands and, even better, when it comes to young people in their 20s, in metropolitan areas women earn 108% than their male counterparts! A greater income and a marginal income addition to family’s budget, without a doubt, is letting women to spend more as well.
According to Time’s article, “The Rise of the Sheconomy”, women are the true customer and best consumer to win. Women have gotten equal, if not greater, decision power in family in a “normal” household. Women would purchase more not only from her own, but also from her husbands account because women control purchasing of the household. According to Belinda Luscombe, “the purse strings are held by women”.
More female entrepreneurs
The boom of female entrepreneurs has probably started about 10 years ago and is still an ongoing activity. Women realized that giving a birth to a child should not restrain their talents and career abilities. Yet in many working places would would be penalized for a “longer than usual” maternity leave. Yet have you ever compared the length of maternity leave all around the world? It’s crazy that in such countries as US a woman can only have 12 weeks off, whereas in Sweden it’s 420 days (more than a year!). It definitely is surprising, especially since Scandinavian countries promote the equality between men and women and in Sweden, just like Denmark, where women are simply expected to work. One major breadwinner in Scandinavia does not exist since Scandinavian social structure emphasizes equality - both partners are expected to work and contribute to family’s budget.
Female competitiveness was probably activated by education and general willingness to study. According to numerous researches, it has been found that younger women are more ambitious than younger men, which results in significant gains in their labor force participation and educational attainment. Even though percentage of educated men and women are nearly the same, it still is visible that women have better education than men, which leads them to better employment opportunities. There are many more women enrolled and graduating from universities than men. In Denmark in 2011, about 19 percent of women and only 10 percent of men have got higher academic education and have completed Bachelors degree. It is said that the sharp distinction has started 2 decades ago, when a number of women chose to have higher education and, consequently, better employemnt opportunities when graduated. However, the difference between working women and men in the labor market over the past decade has narrowed. Last year, in 2012 Danish Ministry of Employment has presented a an Annual Report where it says that 8 out of 10 women with skills and training are currently at work, whereas out of same number, 10, only 5 men are at work. Besides, Danish women have the second highest female employment in the European Union. Yet one more thing that can be observed in Denmark: women with better education have less children. for the population with only 5,5 million inhabinants it could be quite harmful… Where does the data and our current educational and working choices lead us to? Make conclusions yourself.
If you are curious about entrepreneurship and sheconomy, visit http://www.she-conomy.com/