Whenever I speak on the subject of marketing and selling to women — which is all the time — people are often surprised, and sometimes even shocked, when they learn how much women’s economic power has surged over the years.
Women’s impact on the consumer economy ranks right alongside technology as a major factor on marketing and sales. When you consider that as recently as 1974 it was difficult for a married woman to get a credit card in her own name, the pace of change seems astonishing. Here are five of the key drivers behind women’s surging economic power (all stats are U.S., with the sources listed at the bottom of the article):
Educational Attainment: Women currently earn the majority of bachelor’s degrees, master’s degrees and doctoral degrees. Here’s how it breaks down:
- Bachelor’s Degrees: 57% women (1)
- Master’s Degrees: 60% women (2)
- Doctoral Degrees: 51% women (3)
What this means to you: Based on today’s graduation rates, we can expect women to be the dominant force in the consumer economy for the next several decades.