Champion Women
IN for 2024 (and always): Championing women, from mentorship and education, to the board room and funding. When women succeed, we all succeed, especially considering the immense consumer power here in the United States and beyond.
From the article 'Unlocking the Trillion Dollar Female Economy': "Today, women make up roughly half of the U.S. working population and, when adjusted for self-employment, are the new workforce majority. Much of this growth was driven by gains in the retail and healthcare sectors, industries that employ more women and are heavily influenced by female spending power. The rise in female employment is also inextricably linked to education: As of 2019, almost half of the employed female population ages 25-64 held a bachelor’s degree or higher — representing a quadrupling of women with degrees since 1970. Today, women make up 59.5% of college students. Even with a persistent wage gap, these factors have led to a dramatic increase in women’s financial power. American women control more than $10 trillion in assets (an amount expected to triple over the next decade), driven by a steady upswing in workforce participation, education and wage growth."
As a reminder:
- Women consumers: By the year 2028, women will own 75-80 percent of the discretionary spending
- Women typically make around 80-85 percent of all travel decisions, and dominate leisure travel by a 63% to 37% ratio
- A McKinsey study on femtech estimated its current market size range from $500 million to $1 billion, with potential for massive revenue growth
And yet:
- In the world of VC funding in 2023, women-owned businesses receive just 1.9% of funding
- While Women accounted for 40% of Fortune 500 C-suite jobs in 2023, only 5 percent of women of color hold C-suite leadership roles, and while women make up roughly half of the advertising industry's workforce, only about 12.6% of creative director positions globally are held by women
- In entertainment, Only 7% of directors, 13% of writers, and 20% of producers are women
So what are we all waiting for? Less talking points and panels without action, and more connecting, championing, and making change. For all of our sakes. It’s just goo business. See you out there
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