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

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

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.