In Women Want More: How to Capture Your Share of the World’s Largest, Fastest-Growing Market, authors Michael J. Silverstein and Kate Sayre, partners at The Boston Consulting Group (BCG), explore the rise of the “female economy.”
Women today control as much as 70 percent of household purchases and $20 trillion of consumer spending worldwide. They will be responsible for $5 trillion of incremental spending over the next several years — a greater commercial potential than that of the rise of the consumer economies of India and China.
Yet despite all this spending power, women feel undervalued and misunderstood. They are pressed for time and stressed out by products and services that don’t meet their needs.
These findings come from a BCG survey of 12,000 women from 22 countries; 120 questions that delved into every aspect of their lives. Supplementing this data are face-to-face interviews with women from every walk of life that provide deeper insights into their challenges and aspirations.
Women Want More also tells the stories of companies that successfully serve women and reveals the practices they follow. Additionally, the authors pinpoint and analyze the categories of greatest dissatisfaction.
The message of Women Want More is that women have the clout to make or break whole categories. Companies that recognize the opportunity of the female economy and respond to it can capture a privileged position in their category and achieve growth for years to come.