Deborah Garry, Founder & CEO of BBG&G Marketing, attended the Global Woman Summit in Thailand, where she was among businesswomen from close to 60 countries. Daily programs consisted of seminars, panels, workshops, and discussions centered around issues of importance to women.
Below, Debbe outlines the main ongoing behavioral and emotional shifts involving women. They are:
1. The shift of spending back to the home
Home spending is of heightened concern to both men and women, due to increased financial pressures and costs. Both expect to spend less on OOH dining and entertainment, clothing, and extensive travel, but women are more focused on education and childcare and worry more about financial and job security.
2. Changing priorities
32% of women have totally different priorities now which will impact future buying behavior. They are placing a higher priority on mental and physical wellness, stress management and sleep, saving for the future, and financial/job security.
3. The need for equitable workplace models
With so many changes in demands and work locations, new workplace models demand a careful review of policies, management styles, and more, to make sure that women and men are impacted fairly. A recent NielsenIQ study shows less than half of women expect to be working FT onsite at their job. The rest are juggling hybrid or FT home schedules. This complicated workplace landscape requires employers to:
- Rethink accountability and performance metrics
- Focus on implementation of “last mile" policies – ensure corporate standards (like mental health priorities) get implemented down the line
- Evolve management styles: Consult/discuss rather than inform/tell
Moving forward to Real Recovery
In many ways, gender diversity is at the heart of recovery. As Antonio Guterres, United Nations Secretary-General said recently, “A sustainable and equal recovery for all is only possible if it is a feminist recovery – one that puts progress for girls and women at its center."
- What does that mean for all of us, in every business in every industry?
- How can we provide affordable offerings in a world of rising prices?
- How can we ensure our products and services align with women's values and priorities?
- How can we empower men to lean in and evolve to fill the gap and lighten the load?
- Are our values and policies transparent, aligned, and enabling women's real progress?
- How do we create a society that gives women a true voice and seat at the table in all aspects of decision-making?
"The ripples and repercussions of the last few years are also fueling opportunity and new horizons," said Debbe. "Women are forging new pathways in the growing space industry and associated scientific and data communities. There is so much more I brought back from this conference, but I will save those reflections for later blogs!"