Millennial women are the rising economic power: study
Millennial woman are powerhouses when it comes to financial spending and purchasing power, according to Levo, a network for millennials in the workplace.
The survey revealed women represent 85% of the $200 billion that millennials spend — and they aren’t just spending a lot of money — they are actually working.
Of the women surveyed, 42% are household breadwinners and 40% have a side project that generates extra income.
However, brands are losing out because they haven’t figured out how to contend with this demographic.
“They need to understand how to effectively position their products,” Levo CEO Carolyn Ghosn said to FOX Business’ Maria Bartiromo on “Mornings with Maria.”
“Millennial women are the rising economic power. This is the generation and cohort to pay attention to,” added Levo President Alisa Leonard. “If you’re a brand that wants to win with these women it comes down to trust, transparency, diversity, authenticity.”