The Growing Influence of Women in the Global Economy

1. The Power of Women as Global Consumers

Women have long been the backbone of global consumer markets, with studies consistently showing that they control a large portion of purchasing decisions across sectors—from everyday goods like groceries and healthcare to luxury items and big-ticket products like cars. This immense purchasing power means women aren’t just influencing trends they are setting them. Whether in emerging markets or established economies, women are determining the trajectory of industries, which is why their insights are crucial for understanding both micro and macroeconomic shifts.

It’s clear that businesses and policymakers need to recognise the critical importance of women’s economic agency.

When women economists analyse consumer behaviour, they’re not just talking about purchasing power, they are talking about an evolving force that is reshaping markets. From household budgets to high-end consumption, the women’s economy is multifaceted, and it demands attention from those seeking to truly understand global economic trends.

2. The Strategic Influence of Women in Anticipating Price Shifts and Trade Changes

Women economists have been particularly astute in recognising shifts in consumer behaviour, especially when it comes to how women are responding to upcoming trade changes. With tariffs on imports making headlines, women are showing a remarkable ability to predict and act ahead of price increases. Whether it’s through bulk buying or securing products ahead of expected tariffs, women’s purchasing decisions often provide an early indicator of what’s to come.

This behaviour is more than just a reflection of price sensitivity, it is a testament to women’s acute awareness of global trade dynamics. Women are not just reacting to economic shifts; they are anticipating them, making strategic purchasing decisions to mitigate the impact of rising costs. Women economists understand these patterns deeply, and their ability to read the tea leaves of trade policy and its impact on consumer behaviour is essential for understanding broader economic forces.

3. Resilient Consumer Spending: How Women Are Leading Economic Stability

Despite the ongoing uncertainties in the global economy, consumer spending has remained surprisingly stable. But why? The answer lies in the grounded, strategic financial management that many women bring to the table. Women economists highlight that women tend to approach consumer spending with both caution and pragmatism—prioritising essential goods, seeking value for money, and maintaining savings. These stable decisions allow consumer markets to keep moving forward, even when economic forecasts are grim.

In times of economic turbulence, it’s often women’s ability to stabilise household spending that provides the buffer needed for broader economic stability. Women’s contributions to consumer

activity cannot be underestimated. Economic sensibility shapes consumer behaviour in ways that provide stability and predictability, even amid uncertainty.

When economists and policymakers analyse inflation or shifts in the economy, too often the focus is on high-level indicators, without fully considering the impact on essential goods. For women—who often manage a significant portion of household budgets—items like food, healthcare, and childcare are critical to everyday life. Women economists are in a unique position to highlight how price hikes in these essentials, like eggs, milk, and transportation, disproportionately affect households, particularly those with limited income.

That said, this is not to suggest that men are not equally responsible or engaged as decision-makers. Men also play a critical role in shaping household and economic priorities, and they should be equally encouraged to contribute more broadly to these conversations. An inclusive approach that reflects the full spectrum of lived economic experiences—across gender, income, and geography—is essential for crafting effective, equitable policy.

If policymakers want to create effective economic policies, they need to understand these day-to-day financial pressures. Women aren’t just consuming goods; they are navigating the complexities of a global economy that impacts everything from grocery store prices to fuel costs.

But they’re not alone in this.

Men, too, are navigating these financial realities and making critical economic decisions.

Understanding these dynamics in a way that includes all consumers—across genders and household roles—is key to crafting policies that truly reflect the diverse realities faced by everyday people.

4. The Women’s Economy: A Rising Force for Small Businesses and Trade Economists

Let’s talk about the "women’s economy"—a powerful and growing force that is reshaping industries. Women aren’t just consumers; they are entrepreneurs, investors, leaders, and decision-makers. This shift is evident in every sector, from tech startups to small businesses.

Women-owned small and medium enterprises (SMEs) are growing at a faster rate than ever, and women economists have a front-row seat to this transformation.

Trade economists must pay attention to this dynamic. The growing participation of women in global trade, entrepreneurship, and investment means that the policies shaping global trade must be reflective of this shift. Understanding the unique challenges and opportunities faced by women in business, especially SMEs, will be crucial for fostering a more inclusive and sustainable global economy.

Conclusion: The Future of Economics is Female

The reality is clear: the economic influence of women is undeniable and continues to grow. Women economists insights into the dynamics of consumer behaviour, small business growth, and global trade are invaluable. It’s time for policymakers, businesses, and economists to listen to the voices of women, particularly women economists, and recognise the critical role they play in shaping the future of the global economy. By doing so, we will foster a more inclusive, balanced, and forward-thinking economic environment.

That said, I’m not the person to turn to on this topic. For deeper insights into the complexities of trade, particularly as it relates to women’s economic power, you should contact Trade Experettes (https://www.tradeexperettes.org/), a global group of women in trade who are shaping policies and practices around the world. They offer unparalleled expertise and can provide the nuanced perspectives that will drive positive change in trade and economics globally.