According to Morgan Stanley’s research report: Rise of the SHEconomy (2019)
Women are the principal shopper in 72% of the households
It is estimated that they will control 2/3 of all consumer wealth by 2030
When women shop, they are often purchasing for other household members in addition to themselves. The position of principal shopper also likely gives women more control over how household money is spent. Even holding sector shares of household budgets constant, the household’s principal shopper is largely responsible for choosing which products and brands to buy, where to prioritize cost versus quality, and more.
- Rise of the SHEconomy (2019)
Women have and still are under-represented in the personal finance space. And most women simply do not resonate with most of the personal finance brands and influencers in Singapore as their values clash. Some common values:
A focus on long-term goals: Women may be more likely to prioritize long-term financial goals, such as saving for retirement or buying a home, over short-term purchases or investments
A desire for financial security[1
]: Women may place a higher value on financial security than men, and may be more risk-averse when it comes to investing.
A need for education and guidance[3
]: Women may be more likely than men to seek out education and guidance when it comes to financial planning and investing.