Women: The Next Big Thing in Emerging Economies

The average monthly incomes, especially for the city dwelling women in India have seen a steady rise. The incomes of women working in cities rose from 4, 492 a month in 2001 to 9.457 in 2010 according to an IMRB report. This rise in income has lead to the emergence of a new confident, career driven woman who is not earning just for family savings but also in order to be able to spend more on her own personal needs. This new age woman now makes majority of the consumption decisions for the household and is equally fuelled by a desire for better living standards. When women shop, they shop for the whole family. This means greater spending. They spend more on consumer durables and non durables like food, clothes and healthcare products as compared to their male counterparts.

No wonder, companies have woken up to this growing market and now design their products and marketing strategies to lure this growing population of money savvy ,consumerist women who are willing to splurge.