What's Letting the Female Consumer Down?

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Aug. 29 (Bloomberg) -- Boston Consulting Group's Michael Silverstein discusses the economic influence of women on the U.S. on Bloomberg Television's "Street Smart." Janney Montgomery Scott's Guy Lebas also comments. (Source: Bloomberg)

They employ 8 million people and according to studies by boston consulting group, women aren't getting what they want out of this.

Who is to blame?

Michael silverstein says he knows.

Back in 2009, he wrote the book.

Discussing women's enormous economic influence in this country.

Women are fueling a lot of corporate america's success right now.

I'm/ our closer is still with us.

You are like -- what's that movie -- "what women want?" you say they are not getting enough out of the economy.

They are the driving force of incremental income in the u.s., europe, and the developing world.

50 seven percent of undergraduates in the united states are female.

Education translates into income.

Women are catching up in income parity.

And then when you get married, the balance of power changes at home.

They rule the roost.

It becomes a double whammy.

They are making the decisions for the man.

It is a subtle shift and men are in denial, particularly those who run big companies.

They are not in touch with the female economy and it was in the needs for time savings, value, love.

You save 57% of women are being educated at the higher academic level right now.

That is significant, yet we are not seeing the same number of women in higher positions in the workforce.

We will.

These are women in their 20's and 30's. a lot of them are having children and dropping out of the workforce to not continue on.

60% of females work.

In total in the world, there are one billion women working now.

That is a force to be reckoned with.

Yes, some women do drop out of the majority of women holding undergraduate degrees have to work in order for the family to balance the budget.

They have to participate.

They have to bring home money.

They are suffering from working full-time at the job and full- time at home.

Our studies are around the behavior at home says there are doing the vast majority of household chores -- cleaning, cooking, meal prep.

And working harder than men.

That's no surprise.

It was never a surprise in my household.

My mother worked arguably harder.

How do businesses take advantage?

Star with time.

She doesn't have enough time.

She needs to have labor-saving devices, help with meal prep, educate the children with less activity.

Companies need to respond fully to her needs as an individual.

When she goes to buy an investment product, they want them to be looked at in the eye.

When she goes into a car dealership, she does not want the car dealer to dismiss her and say you are not an important customer.

If you want to win female act entity, win their business, you need to understand them.

Do need to research them, size the market opportunity.

Make their lives easier.

What are some examples of companies that have been able to do that?

You joke about the swiffer.

It is a laborsaving device that allows you to have the floors clean by turning to the children.


[laughter] women have needs for is technical, emotional benefits.

Victoria's secret does a good job lifting women emotionally.

Lifting her up, you are saying?

I mean that in the most sincerest of ways.

You are talking about elevating people in making her feel better . she is very dissatisfied about workloads.

Give her advice, styling, counseling.

-- he is very dissatisfied about work clothes.

Make it easy when it comes to lingerie, the kitchen floors, feeding the baby?

See her as an individual, a segment.

There is a segment of affluent, educated women who want to provide their children with opportunities and they want help at home.

Most wings they will pay for.

They have cash in their pockets.

Bottom line, a lot of power and women as far as consumerism goes.

They spend a lot of money so they will continue to spend money.

If you can find a way as a company to make their life easier in any way, shape, or form, you have hit something.

$6 trillion of incremental

This text has been automatically generated. It may not be 100% accurate.


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