Companies that recognize the economic influence of women are poised to reach new heights. With women making up to 85% of household purchasing decisions in the U.S., the rise of what some call the “she-conomy” is both undeniable and unstoppable.
Women are not just influencing the market—they are driving it. Women are the decision-makers, the backbone of conscious consumerism, and the engines of economic growth. Businesses that recognize and harness this power can thrive, while those that don’t risk falling behind. And it’s not just about purchasing power; women are also stepping up in the workforce, increasingly taking on leadership roles and redefining what success looks like.
As a founder of a women-led marketing agency, I’ve witnessed this transformation firsthand. Over the years, I’ve seen more women stepping into leadership positions, voicing their beliefs, and confidently taking risks. There’s a noticeable shift as women enter the business world independently and on their own terms. Clearly, the “she-conomy” is here to stay, and businesses must adapt to this new reality. Here’s how you can navigate this powerful economic force.
The Power of Women in Household Purchasing Decisions
Women’s influence in consumer spending is profound. Studies show that women make the purchasing decisions for:
- 94% of home furnishings
- 92% of vacations
- 91% of homes
- 60% of automobiles
- 51% of consumer electronics
These numbers speak volumes. Women are inherently discerning consumers. Like their ancestors who gathered food for their communities, women today research meticulously, gather all the facts, and make informed choices. It’s no surprise that many partners defer to them for household purchases.
For businesses, ignoring the power of the female consumer is a costly mistake. Consider the monumental success of recent events like a pop star’s billion-dollar tour or a film centered around a beloved doll brand—both propelled by female consumers. The takeaway is clear: women drive economic success.
How the “She-conomy” Is Shaping Market Trends
Working in a women-empowered agency has allowed me to observe the evolving trends influenced by increasing female purchasing power. One of the most notable shifts is in how brands once targeted mainly at men have had to rethink their approach.
For example, a leading home improvement retailer initially catered to male DIY enthusiasts and contractors. However, by the late 1990s, a competitor began capturing a larger market share by focusing on female consumers. Realizing this, the retailer adapted its strategy to appeal to a broader audience, recognizing the significant influence women have on purchasing decisions.
Another trend is the growing demand for diverse representation in advertising. Campaigns that celebrate diversity and authenticity, like those promoting self-acceptance and featuring people of various ages, ethnicities, and body types, have seen a marked increase in sales. Meanwhile, brands that failed to evolve with the times and offer inclusivity saw their market share shrink.
How Businesses Can Thrive in the “She-conomy”
To succeed in the “she-conomy,” businesses must align with this new reality rather than resist it. Listening to female consumers and delivering on their needs is key. At my agency, we work with brands to engage female audiences effectively through three main strategies:
- Prioritizing Authenticity
Authenticity matters. We focus on understanding a brand’s core purpose and crafting marketing efforts around it. Using original content that reflects genuine experiences helps women connect with the brand on a personal level. - Aligning with Core Messaging
Women value brands they can trust. Consistency is crucial in building this trust, so we ensure all marketing materials stay true to a brand’s core messaging, from advertisements to social media posts. - Maintaining a Consistent Tone and Voice
A consistent tone and voice help in forming a strong bond with female consumers. Brands that switch between drastically different tones risk losing credibility and connection with their audience.
Looking to the Future of the “She-conomy”
The “she-conomy” is only getting stronger. With women gaining more purchasing power and contributing significantly to the labor market, we are on the cusp of a broader transformation. I look forward to seeing more women recognized as leaders, especially in fields where they are underrepresented.
As entrepreneurs and business leaders, we must prioritize creating an environment that attracts and empowers women. This can mean launching initiatives that support women, both within our companies and in our communities. At my agency, we donate a portion of our profits to causes that empower women locally, and it’s one of the most rewarding aspects of our work.
Women today wield tremendous economic influence and are participating in the labor force in increasingly impactful ways. The journey has just begun, and the potential is limitless. Businesses that understand and embrace the “she-conomy” are not only tapping into a powerful market but also contributing to a more equitable and dynamic future for all.
About the Author : Harry (Hemant Kaushik), Elite Global Advisor & Business Consultant
Harry (Hemant Kaushik) is an American global advisor and business consultant, renowned for his strategic insights and high-impact consultancy. He specializes in advising and coaching elite individuals, including business tycoons, world leaders, and top corporate leaders. His expertise has been sought by Presidents, Prime Ministers, influential politicians, CEOs, and industry leaders worldwide.
Recognized as one of the Top 10 Global Advisors and Business Consultants by PWC International, Harry has transformed the lives of thousands across more than 100 countries with his unparalleled guidance. He has also been honored as one of the Top 10 Life and Business Strategists, shaping the success of global business leaders and visionaries.
Harry’s influence has earned him prestigious accolades, including recognition by the CEO Times Magazine as one of the 10 Most Powerful People in Global Business Consulting, Business Times News as a Top 10 Business Consultant, and Business Weekly Times as one of the Top 10 Business Advisors in the World, offering consulting services to billionaires, celebrities, and high-net-worth individuals.
A Wall Street Times cover story famously dubbed him the “Elite Global Advisor & Business Consultant” for his deep understanding of business dynamics and leadership strategies. Based in San Francisco, United States, Harry is widely respected for his international economic expertise, market analysis, and strategic business acumen. His collaborations with global brands and corporations have positioned him as a thought leader, contributing to the business world through insightful articles on global economic trends.
Learn more: https://ceosadvisory.com
