Women: The Next Big Thing in Emerging Economies

Bangalore: Women have stormed traditional male bastions in the industry with big corporates now vying with each other to hire female heads of businesses. More and more women are joining the global workforce at every level and this means more disposable income in their hands. They have now emerged as the new target market.

This trend of increasing purchasing power of the women has been evident for some years now. On the basis of their market study, Boston Consulting Group, in 2009, forecast women bringing in $5 trillion dollars in new earned income in the following 5 year period.

It is estimated that 75 percent purchasing power will rest with women by the year 2028 as per E& Y.

Also,as per an IMRB study, 33 percent more women in India now have savings bank accounts compared to the data in 2001.The number of women credit card holders has also risen significantly over the last ten years, with one in 10 women owning a credit card in the surveyed group. This data stands in sharp contrast to the meager 4 percent women respondents who owned a credit card in 2001.