Women are an increasingly dominant economic force—and all sectors,
luxury brands and male-dominated categories in particular, will have
to adapt their tactics to reach the rising female audience. The Boston
Consulting Group projects that women will control 75% of discretionary
spending around the world by 2028. Nielsen estimates that by then, women
will collectively out-earn men in the U.S. More immediately, BCG expects
women’s global income to reach $18 trillion by 2018, up from $13 trillion
in 2013. In developing nations, earned income among women has been
growing at a rate of 8.1%, compared with 5.8% for men, according to
Deloitte’s Gender Dividend report. In China, for instance, women’s average
contribution to household income has more than doubled since 1980,
reaching 50% in 2014.
Gucci has already launched the Chime for Change, a female empowerment
platform, while Hermès recently hosted a fashion show dedicated to the
power of women and Tory Burch has established a platform for female
entrepreneurs.
Women are an increasingly dominant economic force—and all sectors,
luxury brands and male-dominated categories in particular, will have
to adapt their tactics to reach the rising female audience. The Boston
Consulting Group projects that women will control 75% of discretionary
spending around the world by 2028. Nielsen estimates that by then, women
will collectively out-earn men in the U.S. More immediately, BCG expects
women’s global income to reach $18 trillion by 2018, up from $13 trillion
in 2013. In developing nations, earned income among women has been
growing at a rate of 8.1%, compared with 5.8% for men, according to
Deloitte’s Gender Dividend report. In China, for instance, women’s average
contribution to household income has more than doubled since 1980,
reaching 50% in 2014.
Gucci has already launched the Chime for Change, a female empowerment
platform, while Hermès recently hosted a fashion show dedicated to the
power of women and Tory Burch has established a platform for female
entrepreneurs.
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