It's a women's world. Alpha males may dominate the rarefied heights of the power/money hierarchy in the United States, but increasingly women -- make that Boomer women -- are running the rest of society.
The facts below come by way of Meredith Barnhill at NoLa.com, who got them from the She.conomy marketing blog, which is a bit roundabout, so we can't vouch for chain of transmission. But the numbers seem pretty plausible -- and pretty darned scary if you're a beta male who's not at the apex of the power/money pyramid.
- High-net-worth women account for 39% of the country's top wealth earners; 2.5 million of them have combined assets of $4.2 trillion. More than 1.3 million women professionals and executives earn in excess of $100,000 annually. 43% of Americans with more than $500,000 in assets are female.
- Over the next decade, women will control two thirds of consumer wealth in the United States and be the beneficiaries of the largest transference of wealth in our country's history. Estimates range from $12 to $40 trillion. Many Boomer women will experience a double inheritance windfall, from both parents and husband. The Boomer woman is a consumer that luxury brands want to resonate with.
Actually, it doesn't matter who makes the money, because women already control the spending of it, accounting for 85% of consumer purchases of everything from autos to health care:
- 91% of New Homes
- 66% PCs
- 92% Vacations
- 80% Healthcare
- 65% New Cars
- 89% Bank Accounts
- 93% Food
- 93 % OTC Pharmaceuticals
(Photo credit from "The Devil Wears Prada": azfamily.com.)