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The key to improving the economy? Marketing for women

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It’s been a season for the girls, at least from an economic perspective. Content that predominantly appeals to female audiences has dominated the box office and live events:

  • Greta Gerwig’s Barbie has grossed more than $1.28 billion since its release in July.
  • Beyoncé’s Renaissance tour has hit record highs in the UK and Sweden and is expected to gross more than $2 billion , the highest figure ever generated by a female-driven show.
  • Taylor Swift’s Eras tour has already grossed $1 billion and is expected to help circulate $5 billion throughout the global economy.
Major publications have attributed this revival (excuse the pun) of female consumption to the influence of changing habits following the pandemic, but in reality this phenomenon has been brewing for more than a decade.

Economically

women have had a lot of economic power for years, they just spent money differently. It has been widely reported that for women with children, about 90% of their income goes back to their families. A staggering statistic compared to their male counterparts, who typically contribute 30-40% of their income to their families.

According to the Wall Street Journal , major demographic shifts are affecting the way women spend money, including:
  • More and more women are choosing to have economy children at older ages, if they choose to have them at all.
  • Higher labor force participation and higher wage increases compared to the previous decade
  • Evolution of gender roles within the home
In other words, women now have more money economy than ever before and more say in how they spend it. Today, women spend on goods and experiences that align with their personal interests.

Female-Centric Marketing

It’s no surprise that Barbie, Beyoncé, and Taylor Swift have been so successful — all three have effectively used female-centric marketing. Even before audiences knew that the plot of the Barbie movie centered on scrutinizing the patriarchy, themarketingwas clearly geared toward a female audience.

Viewers were drawn to the numerouscross-collaborationswith their favorite brands — acatchy themethat trended on TikTok for most of the American summer and brought back nostalgia for their own childhoods.

Beyoncé and Taylor Swift, arguably two of the most popular artists on the planet with extensive music catalogs focused on women’s empowerment, used social media to rally their predominantly female audiences around their subsequent tours.

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Not only have they had some of the highest

Grossing tours inhistory, but their audiences have also building long-term relationships pumped millions of dollars into local economies in every venue they’ve performed. After all, fans don’t just shell out money for tickets. They also pay for travel accommodation, (often shiny) clothing and other goods and services to enhance their concert-going experience. It’s hard to ignore the economic ripple effect that plays out across other industries.

It’s not just entertainment – women’s sport has belize lists also had a record year:

  • The first half of this year’s Women’s National Basketball Association (WNBA) season attracted record viewership and sponsorship.

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