Made for her

Published on: August 20, 2022

They are busting myths, creating legends, shattering records and are poised to be the single-largest market there is. The age of the Wonder Women has arrived!

The phenomenon of the rise of the female economy is just beginning to be recognised by the world at large. Women have emerged as a force in the universe.

It’s been an epic journey!

Women, the world over, have indeed crossed light years in terms of where they are. They’ve shattered glass ceilings being present in the C-suites of the biggest global companies. They’re champions at every sport out there. From CrossFit to Golf, women representation and excellence is soaring. At the same time, beautifully juggling their multi-hat roles of being daughters, mothers, wives and doing so with supreme efficiency.

Women billionaires make up a significant percentage of the global list. They’ve launched super-successful startups, led them to unicorn status, made giant strides in science, space, technology, policy, governance and finance.

So, is anybody listening?

Clearly, the female economy is already exploding. With salaries fast catching up with their male counterparts, their spending power has exponentially increased. That means shopping for every aspect of life. In every category. Be it finance, real estate, automotive, fashion – you name it.

But marketers need to understand how products can be created for women rather than adapt already existing ones with the “shrink-pink” mutated versions.

A few examples. A shoe that’s just smaller but doesn’t consider the female foot shape or protein drinks that aren’t made for female consumption or even a savings plan that thinks women think much the same way as men do when it comes to managing money. Most of them tend to be ignorant of usage, routine and attitude. Devoid of insight.

A mere adjustment will not solve the problem.

Marketers need to rethink brands. Reinvent whole new categories. Build, construct, engineer, design and customize only for women.

Women as consumers

Women are brand-loyal, their purchases emotional. They tend to linger longer unlike men who like their shopping to be quick, logical and need-based. When have you ever known a woman to zero in on a white shirt, try it on by just pinning it on to themselves, pay and walk out, all in under five minutes!

It’s estimated that women own more than twice the number of shoes than men do. They spend around four-and-a-half times more on clothes.

The decisions for schooling, children, housing and investments are now being made by women.

Mothers? A huge niche unto itself. Just take a look at www.momjunction.com and you will get the power of communities.

The top home-buyers after married couples are single women. Women are more likely than men to regularly watch online how-to videos. Recipes, home improvement are great examples.

Design for women - The biggest opportunity for marketers

What can companies do to design better products for women, in fact specifically for women?

Create new categories. Disrupt, invent, revolutionize! Space, geometry, color, weight, handling, experience, everything is up for disruption.

User and shopper experiences may need to be re-engineered to accommodate styles, habits, attitudes of women. Looking at every aspect of how they view the world. Understanding how they build relationships and connections.

Think unique online experiences, playlists only to cater to their moods, UI that takes into account their legendary parallel processing abilities. Shoes using AI that wrap perfectly around their foot anatomy.

Cosmetics that know what changes they desire. Financial products designed around their lives, not men, not families but just them. Shopping experiences, travel itineraries, mall spaces designed around patterns of how women shop.

Here’s an example – seat-belts. They are proven to be less safe for women. Why? Because the crash test dummies used were designed using men as models. That could be an opportunity!

Take Stylecraze. A site that understands what women want and how they search. An example of marketing designing a product catered solely for women.

When you think of women as an entirely new category, new solutions that empathize with and understand them may just be born.

A collaborative effort, not an afterthought

Recognising the might of the ever-growing female economy and figuring out how a particular product can fit right into their lives is something that will require deep collaboration.

It will need engineers, sociologists, social anthropologists, product and industrial designers, architects and psychologists with an aim to create new segments, new experiences, new products that are solely focussed on women.

The women-centric market is a huge phenomenon. With countless opportunities. But it counts on the ability to see them as both consumers and women.