85 percent of the consumer purchases and female income worldwide totals to over $18 trillion. Women aged between 18 and 35, represent a significant piece of that spending power.
Several companies however, struggle to gain attention and buy-in from this generation of women.
The marketing people spend a lot of time and resources, but are ending up facing the negative results. The reason because, the stories marketers tell portray women in such a uniform way, that it fails to attract them as customers.
In the olden days, cosmetics could increase the ideal face of beauty, but today, the technology can create it physically.
Speaking over the issue, Amy Poehler said, “With all the Photoshop and fake stuff, their [young women's] world is so different from when I grew up. But that makes them crave authenticity -- and they're really good at sniffing it out.”
Traditional advertising is out of fashion, as the present women got tired of being manipulated to fit a mold that is shaped by brands for them, and not by them.
Companies need to support women and change the unilateral way, women is being portrayed in owned media. The fashion women believe that marketers have the social responsibility to do that.
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Stella McCartney, a designer says, “I have the ability to celebrate my customers, embrace their differences and not just try to create cookie-cutter women. For the next 25 years, I would like fashion design to be more than fashion; for it to encourage people and challenge people to be socially and ethically responsible.”
Millennial women are now sticking to the online channels, for the authenticity. They post and share the products photos and thus authenticity, they are missing in the brands.
Posting photos like this, allow us to tell our own stories, while upholding our values. Brand engagement rises by 28%, when consumers are exposed to either professional content or these user-generated inspirational assets.
According to the Savvy marketers, supporting and collaborating with women gives them a competitive advantage. This year's Pirelli calendar selected women based on their merits, not their looks; the Always #LikeAGirl campaign took home a Glass Lion for encouraging social change; acclaim of the Dove Campaign for Real Beauty proves that women value a broader spectrum of defining themselves.
Brands without upholding the social responsibility, would find tough to attain the success. Millennial women are more of digital savvy, who can identify what’s fake and what’s not.
If the companies look for its message to resonate with them, then authenticity prevails. Companies develop content that shapes how our society views and treats women, and millennial women expect the brands selling to them to be instruments of change. Ultimately, what's better for women is better for the company’s brand.
By Phani Ch