The 80 percent minority no more!

October 30th, 2006

All hail the New York Times, which redeemed itself for all past trend-piece transgressions (remember the supposed opt-out revolution?) with yesterday’s article, “What Do Women Want? Just Ask.” In this “Money” section piece, the NYT spends four whole web pages citing proof that companies are finally wising up to the fact that women make 80 percent of the country’s consumer decisions and adopting programs that benefit both female shoppers and corporate profits. We’re not just talking about Crate & Barrel; we’re talking about companies that sell homes, cars, and consumer electronics.

When I read this passage, my mouth fell open (in a good way):

More companies, in the United States and elsewhere, have realized that they overlook women at their own financial peril. The companies are realigning their marketing and design practices, learning to court an increasingly female-centric consumer base that boasts more financial muscle and purchasing independence than ever before.

“We are perhaps on the first step to a matriarchal society; women will earn more money than men if current trends continue by 2028,” said Michael J. Silverstein of the Boston Consulting Group. “The trend has been escalating in the last 10 years as there has been a gradual, slow erosion of the power balance in the family, a psychic rebalancing.”

The article also points out several nifty businesses and sites that cater to women consumers, like BeJane for women homeowners, AskPatty for women buying cars, and the blog by Jane Dough, BostonGal’sOpenWallet, which chronicles a single thirtysomething’s quest for financial security (and makes me really want to get with the investment program).

Suffice it to say, I was 90 times more heartened by this piece than I was by, say, the November 2006 Marie Claire women and money piece, “Million-Dollar Question,” by the fabulous Meghan Daum, a self-professed serial debter and obvious feminist. The article started off on the right note, but wound up amounting to nothing more than your typical fashion mag fare (I don’t blame Daum; I blame the water-it-down-happy editors at MC). Take this excerpt:

If I take an active role in my financial future, does that mean I’m no longer banking on meeting my prince? Can an act of self-preservation become a self-fulfilling prophecy?

Ugh. And to make matters worse, those eight print pages of faux empowerment are followed by a one-pager called “20 Things to Get Before You’re 40,” a list which includes such “must-get” essentials as the YSL tux for women ($3,560), the Cartier Roadster watch ($3,950), the Cadillac XLR Roadster ($78,495) — oh, and don’t forget, pregnant!

Who are these people?! And how vapid do they think I am? Now I remember why I love mags like Bust and Bitch so much.

Entry Filed under: Money honey