The Female Economy: Be Careful Of What You're Sold

The Harvard Business Review published this article, The Female Economy, which simply says: women are the largest economic force in the global business market.

Globally, they control about $20 trillion in annual consumer spending, and that figure could climb as high as $28 trillion in the next five years. Their $13 trillion in total yearly earnings could reach $18 trillion in the same period. In aggregate, women represent a growth market bigger than China and India combined-more than twice as big, in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. And yet many companies do just that, even ones that are confident they have a winning strategy when it comes to women.

Before you get all excited, be careful of what you're sold. For years now, the corporate world has tried understand and cater to women far faster than the political clique because somehow the bottom line on Diet Soda is more demanding than the bottom line on voting precincts. (Despite my sarcasm, it is often true).

And while some get it right, a lot of the corporate and political entities still don't seem to get a 100% on the test when it comes to the female consumer. However, it is assumed that this Harvard Business Review article will put them on the treadmill to chase women quicker than anything else out there.

Just as Betty Friedan warned us in The Feminine Mystique - women are an economic force mostly because of the items we consume: vacuums, household cleaning products, suits for the husband, anti-wrinkle cream and lots of clothes - and these items can keep us from moving up the social ladder in the long run.

While Harvard and others try to understand what makes women BUY (not what makes us tick) we need to be careful of what they are selling us. We need to be wary of whether the economic force we have created offers real influence, or whether it just perpetuates another female stereotype.