“To help revive the company’s sales and profits, McDonald’s shifted its strategy toward women from one of ‘minority’ consumers who served as a conduit to the important children’s market to one in which women are the majority consumers and the main drivers behind menu and promotion innovation.” —Fara Warner, The Power of the Purse
P-l-e-a-s-e Read … Fara Warner: The Power of the Purse
Faith, Lys, Marti, Fara …
Targeting the New Professional Woman: How to Market and Sell to Today’s 57 Million Working Women
“Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade
the value of shares in Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s
rise of 13%.” —Economist, April 15
EXCELLENCE. OPPORTUNITY. WOMEN. OWN. BUSINESSES.
“The growth and success of women-owned businesses is one of the most profound changes takingplace in the business world
U.S. firms owned or controlled by Women: 10.6 million (48% of all firms)
Growth rate of Women-owned firms vs all firms: 3X
Rate of jobs created by Women-owned firms vs all firms: 2X
Ratio of total payroll of Women-owned firms vs total for Fortune500 firms: >1.0
Ratio of likelihood of Women-owned firms staying in business vs all firms: >1.0
Growth rate of Women-owned companies with revenues of >$1,000,000 and >100 employees vs all firms: 2X
Source: Margaret Heffernan, How She Does It
EXCELLENCE. WOMEN. DOMINATE. ECONOMIC. GROWTH.
“Forget China, India and the Internet: Economic Growth Is Driven by Women.” —Headline, Economist, April 15, 2006, Leader, page 14
“Since 1970, women have held two out of every three new jobs created.” —FT, 10.03.2006
“Forget China, India and the
Internet: Economic Growth Is Driven by Women.” [Headline.] “Even today in the modern, developed world, surveys show that parents still prefer to have a boy rather than a girl. One longstanding reason boys have been seen as a greater blessing has been that they are expected to become better economic providers for their parents’ old age. Yet it is time for parents to think again. Girls may now be a better investment.” “Girls get better grades in school than boys, and in most developed countries more women than men go to university. Women will thus be better equipped for the new jobs of the 21st century, in which brains count a lot more than brawn. … And women are more likely to provide sound advice on investing their parents’ nest—e.g.: surveys show that women consistently achieve higher financial returns than men do. Furthermore, the increase in female employment in the rich world has been the main driving force of growth in the last couple of decades. Those women have contributed more to global GDP growth than have either new technology or the
new giants, India and China.”
Source: Economist, April 15, Leader, page 14
Continuing on page 73: “A Guide to Womenomics: The Future of the World Economy Lies Increasingly in Female Hands.” (Headline.) More stats: Around the globe since 1980, women have filled “two new jobs for everyone taken by a man.” “Women are becoming more important in the global marketplace not just as workers, but also as consumers, entrepreneurs, managers and investors.” Re consumption, Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in “Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13%.” A couple of final assertions: (1) It
is now agreed that “the single best investment that can be made in the developing world” is educating girls. (2) Also, surprisingly, nations with the highest female laborforce participation rates, such as Sweden and the U.S., have
the highest fertility rates; and those with the lowest participation rates, such as Italy and Germany, have the lowest fertility rates.
Source: Economist, April 15, page 73
Q: No. 1 contributor to developing country economic improvement? A: More education for women. Source: Many* (*On a related note, eBay founder Pierre Omidyar and his wife just gave $100M to Tufts—its biggest gift ever—to support micro-lending; women typically are the recipients of 90% of micro-loans because they use the $$$ more productively than men.)
Repeat: “Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise
of 13%.” —Economist, April 15
Impact! Add It Up! Primary markets/Everything (“Men buy things that other men will buy for women. I buy things that women want.”—successful jeweler/F. “Women are the majority market” —Fara Warner/The Power of the Purse. Women as Purchasing Officers, CIOs, etc.) Greater global workforce participation rate (“bigger contributor to GDP growth than technology, China, India”—Economist) Higher wages (more seniority, promotions—even if not to CEO; greater pay equity—even if not equal) Business “decision makers” (more seniority, promotions—even if not to CEO) Women-owned businesses (answer to the Glass Ceiling—10.6M in USA; recipients of “micro-lending”—developing world)
10 UNASSAILABLE REASONS WOMEN RULE
Women make [all] the financial decisions. Women control [all] the wealth.