The women workforce is expanding, and accordingly purchasing power of women is growing. With higher purchasing power, more women are entering the labor force and playing a larger role in business, and growing women workforce is driving the rise of the SHEconomy.

SHEconomy is the part of the economy that is driven by women and booming gradually. Though SHEconomy is not a commonly used term in the financial world, it will provide companies significant advantages that have more insights into the evolution of women in the workplace and the role of women in ever-growing economy environment. Already, SHEconomy is making positive effects.

In all markets around the world, the participation of women in the workforce and their impact on the economy is increasing, and it is expected that this trend will continue in the years to come. Nearly 900 million women around the globe participated in the mainstream economy or started their own business so far.

The SHEconomy will continue to expand over the following years, and will offer advantage for companies that design products to tap into the purchasing power of women and attract the attention of female consumers. Recent surveys reveal that women will remain in play for the next decades as women play increasingly more prominent roles in the workplace and global economy. Companies recognize this opportunity and put much effort into successfully marketing to women, and investors are seeking ways to take their place in the most gender-diverse companies. Now, more companies and investors are paying attention to these trends.

The impact of the SHEconomy is being felt in several ways: Thanks to increasing purchasing power women are representing a significant customer base and they are the most powerful consumers around the globe. Thus, given that women are the big spenders, it would be unwise to underestimate the women influence, in particular on food, beauty, fashion and health industry. And, purchasing patterns of women are changing rapidly, as more women are delaying their marriage and childbirth for the sake of their career, education and liberation.

It is estimated that women influence approximately 80 percent of all consumer purchases. And this figure is expected to grow worldwide. In fact, most of the goods produced for men are purchased by women.

Also, women’s role in business, in the economy, even in government is increasing, and more women are becoming leading entrepreneurs all over the world. Accordingly, women in the labor force are becoming a significant driver of economic growth. It is obvious that equal wages and opportunities for men and women would further boost economic growth and promote gender equality.

However, the COVID19 pandemic inhibited women’s participation in the labor force, and they need more incentives and support systems to regain their economic momentum.