Women have become a true financial force with a buying power beyond anything that could have been anticipated, not only locally, but globally. They are influencing and shaping the world and continually gaining more control of important decisions at every level of society. As of 2010, women are the decision makers of consumer purchases of over $20 trillion worldwide, according to the Boston Consulting Group. This number is growing at a very fast pace and is likely to continue its trend through the next decade. Currently, women control more than 60% of all personal wealth in the U.S. and of those, 40% of working women now earn more than their husbands.
When it comes to making decisions, women are at the forefront. They account for 85% of all consumer purchases, including 91% for new homes, 89% for bank accounts and 80% for healthcare. They now control their own lives by making educated decisions, for themselves and their families, especially regarding health, education and well-being. An interesting fact is that 90% of a woman’s income is reinvested into health, nutrition and education. According to the United Nations, this amount is triple the amount made by men.
The increase in power and responsibility among the women today has brought many changes in their lifestyles. The ability to be able to live well goes beyond healthy living, especially with the millennial generation. The female millennials choose where they want to live, where they travel, how they enjoy life and live it to the max. This has also opened new opportunities for businesses to approach women for their products and services, even changing their way of marketing towards women and trying to understand how women think in order to compete for their purchasing power.
For more information on Power of The Heels, contact Gladys Mezrahi at 305.798.0328