As the Chinese would say, there is a Ying to every Yang, balance is what is needed for harmony in this world.
After a testosterone-appealing article on vintage cars last month, I would like to draw on Eastern philosophy to embrace my readers’ feminine side. I also want to ponder on another meaning to “alternative”, as in “existing or functioning outside the established cultural, social, or eco- nomic systems”. I am talking about investing in women.
Ladies: Here is some ammunition to spice some (unpleasant) conversations with male counterparts. Hav- ing had a corporate career in male-dominated industries (financial services and oil and gas) and function (finance), I know what it feels like.
Gentlemen: Silence your inner sarcastic voice and look at these telling statistics. Women control about $20 trillion in annual consumer spending globally, according to the Harvard Business Review in 2009. This number is expected to reach $30 trillion by 2030.
According to business writer Tom Peters, women account for about 83% of all consumer purchase across any category of industries – yes, any category, cars, technology and real estate included.
Savvy businessmen, which I am sure you all are, it is time to further consider women as a powerful yet specific market.
A female presence at board level contributes to healthier and higher return on equity and total return for shareholders by up to 35% and 34% respectively, according to Catalyst, an organisation that promotes women in business.