Gender Watch She Stops Shopping To Conquer

[Maral]

Not sure if you all have seen the info in Business Week's - but this is an interesting initiative (and a legitimate one. And I thought it might be of interest. Compelling #s and will be interesting to see the impact ......

 

Business Week - September 20, 2004

UP FRONT -- GENDER WATCH She Stops Shopping To Conquer

 

If women shut their purses and didn't shop for a day, would the economy suffer? The idea gets tested on Oct. 19 by 85 Broads, a networking group founded in 1999 by Janet Hanson, who worked for Goldman Sachs -- headquartered at 85 Broad St. BusinessWeek has learned that 85 Broads

is asking its 4,000-plus members in 450 companies, colleges, and B-schools

not to spend that day. Hanson says the "buycott" will show the gap between women's purchasing power and their underrepresentation in boardrooms and executive suites. Members plan to spread the word to friends and to women on college campuses.

 

Women control $3.3 trillion in yearly consumer spending, 44% of national spending -- a sum that isn't just symbolic.

 

According to Business Week, the U.S. economy has become increasingly FEMALE-DRIVEN! Did you know that women in the U.S.:

 

1) Control $3.3 TRILLION in annual consumer spending?

2) Make 62% of all car purchases?

3) Take more than 50% of all business trips?

4) Control over 50% of the personal wealth in this country?

 

Unfortunately, women's purchasing power still has not transalted into economic power. According to Catalyst, only 6 CEO's in the Fortune 500 are women, 12.4% are board directors, and 5.2% are among the top earners in the country.

 

On Tuesday, October 19th, we invite you to leave your checkbook and credit cards at home as a symbolic gesture that we no longer "buy" the glacial pace of change for working women in America. Instead of shopping, go for a walk in the park, write a letter to a friend, enjoy a museum, or help someone in need.