Women’s spending power is the story of the summer

From Barbie to Queen Bey, women’s consumer spending packs quite the economic payoff.

Economically, it’s been a summer for the girls. Just looking at women-targeted entertainment alone tells the story:

Collage on colorful background, from left to right: Margot Robbie as Barbie behind the wheel of a pink car, Taylor Swift flexes her arm, Beyoncé Knowles sings into a microphone.
  • Greta Gerwig’s Barbie has made $1.38B+ since its July release.
  • Beyoncé’s Renaissance Tour impacted inflation rates in the UK and Sweden — and may gross $2B+ by the fall.
  • Taylor Swift’s Eras tour is projected to generate $4.6B in US consumer spending.

This boom in women’s consumer spending has been attributed to post-pandemic “revenge spending” habits — but it’s actually been in the works for some time.

Women have held economic power for years…

… They were just spending it differently. Major economic and demographic shifts over the last decade have impacted how women now spend their money, per The Wall Street Journal:

  • More women opting to have children later in life, if at all
  • Higher female workforce participation and wage increases compared to the prior decade
  • Evolving household gender roles

In other words, women have more money and agency over how they spend it than ever before, and female audiences are spending on goods and experiences that align with their personal interests.

That’s good news for everyone

This trend has propelled Beyoncé and Taylor Swift to top-grossing tours; it has also pumped millions of dollars into local economies:

  • Beyoncé’s Philadelphia show resulted in a 30% search bump for the area’s restaurants, and a 193% surge for its nail technicians.
  • Swift’s Cincinnati stop generated $92m for local businesses.

The key takeaway from this summer shouldn’t be turning every last toy into a movie, but far more simple: When customer groups feel seen, heard, and understood, they show up in a big way.

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Topics: Women

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