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Rise of the She-conomy: Unlocking the Spending Power of Women in Electronics

November 2017

With increased access to higher education and more women entering the labour force, women are more empowered than before. The higher spending power of women is driving the rise of the She-conomy. There is no need for all electronics to be customised for females to unlock the spending power of women but they should at least be female friendly.

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Women are empowering the rise of the She-conomy

With increased access to higher education and more women entering the labour force, women are more empowered than before. The higher spending power of women is fueling the rise of the She-conomy.

More than just pink

Stereotypical gender notions where pink is for girls and blue is for boys are passé particularly as gender roles are increasingly being blurred.

Female-friendly electronics

There is no need for all electronics to be customised for females to unlock the spending power of women but they should at least be female friendly.

For women, the experience is just as important as the product

When purchasing a product, both the experience and product are equally important to discerning women consumers.

Women prioritise ergonomics and shopping experience

Ergonomics, functionality, user experience, shopping experience, fashionable and after-sales services are six key elements when selling electronics but ergonomics and shopping experience are key for women.

Electronics manufacturers and retailers need to invest in experiential retail

Women are treated to an immersive shopping experience by beauty and fashion companies and will be expecting the same with electronics manufacturers and retailers.

Services offer an untapped opportunity

Time-strapped working or married women are more willing to pay for mundane maintenance services on their electronic devices, which allows them more personal and leisure time.

Introduction

Scope
Key findings

Female Empowerment

Female population in 2030: Summary
Females in higher education outpaces males in emerging markets
40% of employed population will be female in 2030
Progress of female empowerment varies but growing
Moving towards gender equality

Selling to Women

What defines women today?
How does this impact their spending habits?
Women are willing to invest in their appearance and wellbeing
Dearth of women working in technology companies across all levels
Is pink the way to go for electronics devices?
Electronics need not be for females but should be female-friendly
Addressing the needs of women is not complicated
Koss FitBuds: Ergonomically designed earbuds for women
Samsung: Stylus for women with long fingernails and petite hands
Mezzi: Merging fashion with technology
Fossil: Wearables for men and women
Canon: Gender neutral but stylish and compact design for women
Oppo : Capitalising on the selfie and wefie trends
Apple: Keeping the user experience simple
Geek Squad: Tech services for the time-strapped working women
So many things to buy, so little money

Retail Strategy

Women enjoy visiting stores and searching for bargains
Loyalty rewards points will stimulate spending
Women are less likely to increase spending on new technology
Experiences and products are equally important to women
Store-based retailing accounts for over 50% in all but one category
Women go to stores to buy electronics
Electronics companies are behind the curve in experiential retailing
Sonos: Experiential retail through its listening rooms
Sephora: Experiential retailer creates daily emotional attachment
Sport Chek: Proactive development of hyperconnected stores
Samsung: Experience store in no pressure sales environment
Starbucks: Providing immediate customer support via Facebook

Opportunities

Rise of the She-economy will boost sales of electronics products
Unlocking the spending power of women in electronics
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