Women are responsible for roughly USD $18 trillion of the global economy. But where do all that cash go? Here are three industries that are currently attracting the smartest female buyers:
Real Estate and Home Furnishing
According to Harvard Business Review, women influence 94% of the purchases in this category. It’s also worth noting that more single ladies are buying homes. Strong and independent, they single-handedly fund and manage the maintenance of these apartments and houses.
Based on the 2017 data of the Bureau of Labor Statistics, working women allot 40% of their income for housing. As multi-tasking is the name of the game, the female market is constantly looking for a mixture of style and function.
Contrary to stereotypes, the female market makes judicious decisions on where to invest their hard-earned income. Women allocate 7% to 12% of their income on personal insurance, pensions, and other financial services that prepare them for retirement. According to the HBR survey, women feel severely underserved in this category despite projections that 50% of the United State’s $14 private wealth is controlled by the female market.
For all the ladies out there who are currently enjoying financial freedom, experts say that it’s best to take a cue from the trends and invest in financial planning retirement.
It may appear vain on the surface, but a closer look at the lives of successful women tells a different story. Looking rested, young, and impeccably put-together helps the female workforce stay professionally competitive. Considering all the tasks that they have to juggle in a single day, staying in great shape isn’t easy at all.
Harvard Business Review writes that beauty products and fitness services have been helping women maintain a feeling of well-being. In fact, the global skin care industry is expected to grow by USD $135 billion by 2021. Industry surveys are also claiming that women would have spent more on apparel if brands made a wider variety of styles for different body types.
The ‘She economy’ is definitely growing. The way female buyers make use of this purchasing power is lending a great deal of insight as to what the women of the 21st century are like. They’re self-reliant, hardworking professionals who take care of themselves and everyone else around them.