Women Want More - PDF

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T h e B

o o k i n

B r i e f

How to Capture Your Share of the

World’s Largest , Fastest-Growing Market



The New “ Female Economy”

Author Michael J. Si lverstein

is a senior partner at The

Boston Consulting Group.

He has advised many of theworld’s leading companies

and is an internationally

recognized authority on

consumers and consumer

goods.

Coauthor Kate Sayre isa partner at The BostonConsulting Group and leadsthe Consumer practice in theBCG’s global topic expert for

The Boston Consulting Group (BCG)is a global management consultingon business strategy.





Michael’s previous books, the bestseller and

award-winning Trading Up and Treasure Hunt ,

types of goods and how companies can create

products and services that appeal to them.


http://slidepdf.com/reader/full/women-want-more-pdf 5/37The Book in Brief 1

Today, 1 bi l l ion women work worldwide,

and more than half of college students are

women. Women control half the wealth in

the United States.

Women will drive an incremental $5 tri l lion

in global spending in t he next several

years, which represents the most important

commercial opportunity in our li fetime,

greater even than the rise of the consumereconomy in the developing count ries.

Women Want More explores this phenomenon

and how companies can respond to it .


http://slidepdf.com/reader/full/women-want-more-pdf 6/37Women Want More 2

The BCG Global Inquiryinto Women and Consumerism

In 2008, the Women Want More

Women Want More



Women all over the world responded to the survey with insights unique to their country, culture, and individual circumstances. Yet whether from France,

Brazil, or Saudi Arabia, women worldwide share many of the same fears,

dreams, and daily challenges.



Meet Nicole Green:Stressed Out



“ Much of my daily stress is because so many people

things that absolutely have to happen, and they

Peter to pay Paul wi th my time.”

In 2006, 70.9% of motherswere in the labor force

56% of those mothers hadchi ldren under one year of age

On average, women arecommitted 113 hours a week

a night



The Triple Challengeof Time

lack



Typically, a woman says she must deal wi th:

Too many demands on my time. There are just

too many things to do in a day. Almost half

of the survey respondents cited demands on

their t im e as their num ber one challenge.

Not only are

there too many things on the to-do list , but

When do women get

a moment t o close the door to the bedroom,

take a walk, read a book, sit and gaze out t hewindow? Alm ost never.

was at t he top of t he list for 45 percent of

survey respondent s.



Surprising Findings AboutWomen Around the World



About what

women NEED

TimeLove

Family

Relationships

Community

About what causes

ARGUMENTS

Money

Chores

Work schedulesChildren

Sex

About MONEY

48% say managing

the top challenge

About BODY

68% believe they are

higher than their ideal

body weight

About BEAUTY

25% believe they are

extremely or very

attractive

About POWER44% rarely or never

feel powerful

About PETS

83% of women withpets say they are one

of their greatest

sources of happiness



Mary Anne Fross: Fast Tracker

Six Archetypes

Lucy Kim Lee: Relationship Focused

Laura Meyer: Managing on Her Own

Rebecca Montague: Pressure Cooker



Linda Welby:

Karen Dunrack:

Economic class

Elite

Upper

Upper

middle

Middle

Lower

middle

Lower

Single Married

without kids

Married

with kidsEmpty

nester

Divorced

Fast Tracker

RelationshipFocused

PressureCooker

FulfilledEmptyNester

Managingon HerOwn

Making Ends MeetMakingEndsMeet

Independentwoman

Striving forachievement

Strugglingfor stability

Successfulmultitasker

U.S. Consumer Segments



Some Brands Really“ Get” Women

Lesl ie Wexner,



Gerber

Companies that gain respect and loyalt yunderstand the

design, technology, and m aterials

They assess how these features cont ribute to superiorfunctional performance



Categories That ServeWomen Well

Food

Whole Foods has long

been the market ofchoice for women who

especial ly urban profes-

mothers, and women

over 55.

As one woman put it ,

complete approach to

taking care of the fami ly,

well ness, and healthy

eating.”



Fitness

Beauty

Apparel



Categories ThatFrustrate Women

Financial Services



Health Care

When Dorothy Hastings’s

fatal heart attack, she was

very lit tl e idea of what to do

or how to get the help sheneeded.

Her exper ience forced her

own hands. Today, Dorothyfeels much better educatedabout matters of personal

understands it all . She hasa 401K plan, one credi t card,no car loan, and manageablecredit card debt.



Annalie Lindstrand:Happy for Now



“ In Sweden, everyone accepts that women have

careers. When you have chi ldren, everyone under-

stands that you are going to keep working. Fathers

take much more paternity leave, and i t ’s very equal

in t hat respect.”

Finding t im e for themselves

women

daily stress level



Challenges for Women in theLow-Growth Economies



Women in the United Statescont rol 73% of householdspending

They take responsibi l it y for91% of household tasks

work wil l help t hem achievetheir goals

Women in Germany shoulder93% of household tasks

French wom en cont rol 67% of

10% feel t hey wi l l be able tosave enough for ret irement

20% of Italian respondentsbel ieve women have achievedequali ty in their country

fami ly are the most importantthings in a Japanese woman’slife



Qin Liu: In thePressure Cooker



“ We are very happy now. We have a harmonious

family, a lovely daughter, healthy parents, and stable

jobs and incomes.”

most of any national group

famil ies, and personal happi-ness wil l im prove in t he next

ten years

as a country and as a globalplayer, is br ight

“A woman can never have enough clothes, right?

I was going to turn one of our bedrooms into a library,

but now i t has become a big closet instead.”



The Opt imist ic Economies:



Chinese women work slightlymore than the global aver-age whi le shouldering 77% ofhousehold responsibi li ti es

26% of Chinese women reportfeeli ng appreciated for their

Middle Eastern women areless stressed than the averagewoman globally, but they

want m ore control over their

Jobs are a source of happinessfor 79% of Indian respondents

priori t ies for 56% of Indianwomen

Sex and money appeared onRussian women’s li stsof top sources of happiness

Brazilian

women bel ieve that over thenext ten years women wil lmake economic, professional ,and educational gains



Josette Sheeran: Solving Hunger



“ Hunger is destabil izing for the world. It drives

people to arms and war. Chi ldren under two who

receive inadequate nutri t ion are crippled for l ife.

Inadequate nutri t ion reduces the income potent ial

of the chi ld by more than half. If you get the chi ld

food, you change a l i fe.”



Women Want toGive Back

Lynne Nellemann



Zainab Salbi

Carol Evans



To Learn More

For more insights, data, and additional

materials, visit our Web site at

www.bcg.com/womenwantmore

Michael and Kate are available

to talk with the press and

organizations.

Learn more about the survey, the questions,

our methodology, the respondents, and their

responses, and take a short version of the

survey at www.womenspeakworldwide.com.

Women Want More

Contact





The Boston Consulting Group (BCG) is a global management consulting

with clients in all sectors and regions to identify their highest-value

opportunities, address their most critical challenges, and transform their

businesses. Our customized approach combines deep insight into the

of the client organization. This ensures that our clients achieve sustain-

able competitive advantage, build more capable organizations, and

secure lasting results. Founded in 1963, BCG is a private company with



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