- Women make deep economic impact, asserting their rule over the summer.
- Women's substantial influence reshaped the economy, igniting a transformative movement that goes beyond transactions.
There’s no argument, women ruled the summer with deep economic impact, turning everything they touched to solid gold. Women proved that they have the Midas Touch.
The Wall Street Journal reported on how women took center stage not only in major cultural events but also in the realm of economic influence. The impact of their substantial spending at events like Beyoncé concerts, Taylor Swift shows, and the “Barbie” film has propelled these ventures to commercial success. Beyond the financial gains, this trend underscores women’s empowerment, the strength of shared experiences, and the creation of a unique sense of community. This remarkable phenomenon, characterized by increased purchasing power and a surge in group participation, has not only reshaped marketing strategies but also illuminated the undeniable economic prowess of women in society.
Their significant contributions to events like the “Barbie” film, Beyoncé’s “Renaissance Tour,” and Taylor Swift’s “Eras Tour” have been instrumental in giving a powerful boost to the economy. The Wall Street Journal coined it “the women’s multiplier effect,” this phenomenon has even caught the attention of the Federal Reserve, a testament to its remarkable contribution to the nation’s overall economic growth.
Women have always been a deeply underestimated economic force.
Buzfeed also reported a surge in women’s spending that transcends mere transactions. It has ignited an unprecedented spending spree across the nation, not just breathing life into local economies, but also serving as a buffer against a possible recession. Here are a handful of their highlights:
- Fortune is projecting Taylor Swift’s “Eras Tour” to be the first tour to breach the billion-dollar mark solely through ticket sales.
- Variety reported that Greta Gerwig’s “Barbie” film grossed over $155 million domestically in its opening weekend.
- According to Fortune, Yelp dubbed Beyoncé’s Renaissance Tour the “Beyoncé bump” due to the significant increase in searches for wigs, dive bars, and LGBTQ+ shops during her concerts.
You can read all 17 ways women’s endeavors this summer rescued the US economy, as reported by Buzfeed, HERE.
In essence, the summer of 2023 has witnessed an unprecedented wave of women’s spending that goes beyond fiscal transactions. This remarkable phenomenon has not only invigorated local economies but has also showcased the transformative power of women in shaping economic landscapes. The echoes of this spending are likely to reverberate for years to come, underscoring the pivotal role women play in society’s financial empowerment.
With over a decade dedicated to women-led startups, Raven is a seasoned entrepreneur, strategic luminary, and passionate advocate. She's nurtured 500+ women-led businesses, securing over $100M in funding through her blend of strategic counsel, marketing mastery, and resource facilitation.