The $20 Trillion Market Opportunity Hiding In Plain Sight

Economically speaking, it has never been more of a “woman’s world.”

When Katy Perry emerged from her years-long hiatus with a half-cooked comeback single, she did so with a strained soprano stanza:

“It’s a woman’s world, and you’re lucky to be living in it.”

Ms. Perry may have fallen flat in her journey to pop re-domination, but she struck the right chord when it came to identifying the changes in the political and financial global landscapes.

Women control $20 trillion in global consumer spending and 70% of global household spending. Women’s purchasing behaviors and needs are reshaping industries from consumer products to sports.

And yet, the female economy continues to be a mystery to many brands. So who is she, and what do fintechs need to understand to meet her needs?

She is financially secure

For the first time ever, women are more likely to be homeowners than men. Single women made up almost 20% of first-time home buyers in 2023. This is in stark contrast to their single male counterparts: they made up only 9%. In an environment where the home buying landscape has never been more depressed, women represent a rare glimmer of hope. So why do one in four women report feeling ignored by their real estate agents when purchasing a property?

The female consumer is financially savvy. She is also more likely to hold the primary responsibility for managing household finances. Some 43% of women say that they are the primary breadwinner in their family, and this number is forecasted to continue growing. Yet more than 2/3 of female investors believe that wealth managers misunderstand their goals.

Your humble correspondent can attest to this.

A recent attempt to discuss a simple upcoming transaction with my very well-established brokerage firm left me feeling insignificant, lowly. Days later, after executing the trade on my own, I received no fewer than three phone calls urging me to consider their wealth management services. The contrast in tone was striking—but why would I entrust them with greater responsibilities after such an unwelcoming initial experience? I cannot help but think how many more women like me are falling through the cracks.

A clear opportunity exists for asset managers to redesign their communication and outreach strategy to accommodate the female consumer. Clearly, precious few are rising to the occasion.

She is well educated

Young women are more likely than young men to attend college and earn a four-year degree. There are currently 1.6 million more women between the ages of 25 and 34 with a college degree than their male counterparts. In 1970, only 12% of women between the ages of 25 and 34 had college degrees. Today, this number is almost 50%.

Interestingly, the reasons for not completing a four-year degree vary for men and women. Men are more likely than women to point to factors pertaining to personal choice, whereas women are more likely to cite financial constraints. “Roughly a third (34%) of men without a bachelor’s degree say a major reason they didn’t complete college is that they just didn’t want to. Only one-in-four women say the same,” according to Pew Research.

In spite of these promising statistics, too many women globally continue to face impediments to accessing education. Countless studies have illustrated the correlation between receiving higher education and economic empowerment. The more educated a woman is, the more likely she is to earn more, delay child formation, and participate in the formal economy.

As more women graduate and enter the workforce, they continue to reshape workplace dynamics. Modern employers must adapt, and technology solutions helping to bridge this gap may find themselves at the right place, at the right time.

She is more socially progressive

Exit polls from the recent US election show that a majority of white women voters embraced a conservative shift. However, among the young female electorate, the opposite could not be more true.

Women between the ages of 18 and 30 are now 30% more liberal than their male contemporaries. Significantly, this gap emerged only 6 years ago. Young women take more progressive stances on everything from racial justice to abortion rights. This trend can be observed globally, and from politics to podcasts, the ramifications are massive. “Men commonly report listening to ‘The Joe Rogan Experience’ and ‘The Ben Shapiro Show,’ while women favor the New York Times’ ‘The Daily’ and Ira Glass’ ‘This American Life,’” per Teen Vogue.

Gen Z is not a monolith. Companies vying for the hearts, minds, and wallets of this cohort must plan accordingly.

She continues to be overlooked

From health outcomes to sports league rights, the female consumer continues to be overlooked and underestimated.

I previously wrote about how the rise of women’s sports has opened up lucrative opportunities for advertisers and leagues. Yet gender pay gap persists.

Cardiovascular disease is the number one killer of women. Women are 20% more likely than men to develop heart failure or die within five years of a first severe heart attack. Yet women are not seen by cardiovascular specialists as often as men. In an emergency, women are less likely to receive CPR from bystanders. Even routine health concerns are less likely to be taken seriously.

Why does any of this matter?

Women have made significant strides in educational attainment, workforce participation, and wealth generation, yet continue to face huge obstacles. From something as minute as car seats not being designed to accommodate ponytails, to the greater chasm in health outcomes, the modern world continues to conveniently ignore our distinct needs.

Women are no longer a niche market—they are a driving force reshaping industries, economies, and societal norms. Yet, too often, their needs and contributions are dismissed or underserved. Fintechs, health providers, and businesses at large face a clear choice: adapt to meet the demands of the modern female consumer or risk irrelevance in a world where her influence is only growing.

After all, it’s her world—you’re just doing business in it.