Maddy Dychtwald

Financial clout of women, big business for smart marketers

In Guest Post on June 9, 2010 at 7:57 am

In Beirut, my attempts to speak Arabic are often met with amusement and it’s not uncommon for people I meet to ask me about my “descent” – a way of asking what my ethnic or cultural lineage is. The truth is, I am often tempted to say that I descend from accountants. It is both a curse and a (mixed) blessing, and it manages to inform most of my decisions – as well as determine what I receive for birthday presents. This year, my birthday gift arrived early – coinciding with the launch date of the book, Influence: How Women’s Soaring Economic Power will Transform our World for the Better.

Maddy Dychtwald

The book looks at the different decision making patterns that women exhibit, and the transformational possibilities that this presents for the global community.

Indeed, the share of the world’s capital that is controlled by women is skyrocketing, and their influence as decision makers in the marketplace carries more economic clout than ever before – a fact that is of increasing significance to marketers. Harvard business school professor, Rosabeth Kanter said “the biggest demographic change of our times [is] the emergence of women as an economic force.”

While academics often have their heads in the clouds, thinking in the abstract, marketers tend to be the ones who get paid to produce results. And they know what’s happening on the ground. And what’s happening on the ground is mind boggling – to the tune of trillions of dollars globally. Analysts expect that by 2014, about $15 trillion worth of global consumer spending decisions will be made by women, with women controlling nearly three quarters of all shopping decisions.

Let’s consider that: For every dollar circulating in the marketplace, 70 cents of it is in the hand of a woman, who is considering her own personal needs and values – and that of her family and community – before she spends it. Clearly, the biggest task for marketers is to understand those very needs and values that inform her decision making process, in order to better position their products to compete for her money.

This was the mission of the GMR Marketing to Women Conference, held earlier this week in Dubai. The sellout event convened marketing professionals from around the region, strategizing to get a slice of a $383 billion pie – the amount of regional wealth that will be controlled by women within the next year.  Moreover, a whopping 40 percent of private wealth in Saudi Arabia is controlled by women – of enormous importance to the regional financial services industry, and not overlooked by the banking sector. Women in the “bankable age bracket” represent nearly half of the total female population, according to one banking expert at the conference, who added that these women overwhelmingly prefer Islamic financial instruments.

Perfect timing, as a new Abu Dhabi investment bank sets up shop to target the region’s wealthy women, Reuters reported Monday. Staffed with female senior staff, Al Bashayer Investment Company will offer a full range of investment banking, corporate advisory, and wealth management services.

“Very few services are given to women in the field of investments here. Women will be our focus clients,” chairwoman Fatima Al Jaber told reporters on Monday. “We want to create women’s wealth.”

Good news travels fast, it seems.

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  1. Not had time to write on Amazon a review of this Ground Breaking Book that not only redirects Females but Males…
    Males are so so so so so lost right now.. They are playing WAR everyday. In politics, on Wall Street, Health Care, Science, Technology… What ever situation you look at it.. It is MEN playing games.. Making up agitation, making up competition… IT IS ALL IN THEIR HEADS. It does not exist in reality of real life…
    MEN are still playing like little boys while we woman take responsibility for being Human in a WORLD OF HUMANITY/LOVE.

    For Me, This surreal Reality of Life is over… Why Women of Influence is so Important. As it contains resources and facts that we Woman no longer have to buy into this power/control of MEN leading our country, our families, environment, you name it into despair. Only because they refuse to grow up and put their toys away.. This has made for a dead at the wheel shallow society where nothing is working as we spin our wheels staying in same place..

    This is why Woman are taking over… Like Mommy’s I unfortunately..
    What is extra special about Women of Influence is it allows women to create their own identity. Not pattern themselves after males as most females in every area of successful life have… We need as a society the female brain way of thinking not the female thinking like a male… This does get us anywhere.. We have missed the female brain the last 100 yrs of being a industrial society…
    Why we all are dysfunctional… No System or Institution is functional right now nor present in real time… All is in dark ages of the male tiny little Play Land… WOMAN YOUR COUNTRY NEEDS YOU !!

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