What women want

Although women constitute a significant amount of global spending, many feel that they are underserved by businesses, particularly in the investment industry, according to a recently released survey from The Boston Consulting Group Inc.
AUG 09, 2009
By  Sue Asci
Although women constitute a significant amount of global spending, many feel that they are underserved by businesses, particularly in the investment industry, according to a recently released survey from The Boston Consulting Group Inc. The global survey involved more than 12,000 women in 21 countries and was conducted online from March through September 2008. Participants completed a 120-question survey that asked about their home and work lives, earnings, happiness and sources of stress. Women's income globally increased to $9.8 trillion in 2007, from nearly $6.8 trillion in 2002, the survey found. By 2014, women's income is projected to increase to $15.6 trillion, the BCG said. And women control nearly $12 trillion of the overall estimated $18.4 trillion in consumer spending worldwide, the report said. By 2014, women will control $15 trillion, it said. Women own or co-own 40% of U.S. businesses. One billion women are working worldwide, and that total is expected to grow to 1.2 billion women by 2014, the consulting group said. But 49% of women surveyed said that investment companies needed to do a better job of understanding and meeting their needs. Also, 47% said that they were disappointed with banks, and 45% said they were disappointed in life insurance companies. The respondents did report that companies in industries such as beauty, clothing and food successfully tap into their needs. Money was cited as the major point of stress among respondents, the survey found. A full 48% said that they felt pressure related to household finances, and 81% said that they didn't think they were saving enough for retirement. The survey is part of the research behind a soon-to-be-released book, “Women Want More: How to Capture Your Share of the World's Largest, Fastest-Growing Market” (HarperBusiness, September 2009), written by Michael Silverstein, a senior partner at BCG, and Kate Sayre, a partner at the firm, and .

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave