By Alex Friedman
Worldwide, women manage an estimated $32 trillion in annual spending and are projected to control 75 per cent of discretionary spending within the next five years. Yet across nearly every industry, most products fall short of meeting their needs, reflecting a tacit assumption that women are somehow a niche market.
For decades, companies have relied on superficial gestures: pink packaging, token “female-friendly” campaigns, and even the so-called pink tax, whereby women are charged more for the same product. Many of these “personalised” offerings amount to little more than marketing in disguise.
The result is a persistent gap between what women need and what companies deliver. Closing it requires designing products and services that reflect women’s priorities, decisions, careers and lived experiences.
Historically, women have been expected to adapt to systems and services that were not built with them in mind. The evidence is everywhere: personal protective equipment is rarely made to fit, smartphones tend to be too large for smaller hands, and voice assistants consistently fail to recognise female voices. When male data are used as the benchmark for what’s considered “normal", women are underserved, and entire markets remain underdeveloped.
This oversight represents one of today’s largest untapped growth opportunities. Consider financial services: women add $5 trillion to the global wealth pool each year, but products still cater to men’s earning patterns and priorities. Despite managing a greater share of household budgets, women are up to eight percentage points less likely than men to feel financially skilled. Products that account for caregiving breaks, pay gaps, and longer lifespans could generate billions in value while improving women’s financial security.
Even in traditionally female-oriented industries like beauty, personal care and groceries, only two-thirds of women feel their needs are met. While many brands continue to prioritise marketing over substance, most women say they would pay up to 15 per cent more for safer, higher-quality, or more convenient options. To seize this opportunity, companies should focus on what women actually value rather than “feminising” existing products.
Nowhere are the stakes higher than in healthcare, where overlooking women’s experiences can have life-altering consequences. While women make 83 per cent of household healthcare decisions, only 41 per cent say their concerns are adequately addressed. Underdiagnosis and undertreatment – particularly related to menopause and bone, cognitive, and cardiovascular health – represent a $100 billion-plus market opportunity in the United States alone. Cardiovascular disease, the leading cause of death among women, illustrates the problem. It remains chronically underdiagnosed because screening protocols are based on male symptom profiles. Correcting those biases could expand the cardiovascular market by 74 per cent to $20 billion by 2030.
That same dynamic is playing out in nearly every industry: when women are excluded, markets underperform their potential; when they are addressed, well-being improves and profits rise.
But that requires a fundamental shift. Women’s lives are not linear; their health, careers, families and identities constantly evolve, as do their goals and values. Designing with that evolution in mind is the foundation of meaningful innovation.
To achieve this, research must go beyond demographics. Companies should invest in female-specific, life-stage research that captures the full depth of women’s lived experiences. Collaborating with universities, health providers, and data scientists can help generate new insights and drive inclusive innovation.
Ensuring that products reflect women’s actual experiences rather than assumptions requires rethinking research and development. Companies must adopt agile R&D practices like rapid prototyping, cross-functional collaboration and real-time feedback. Likewise, involving women early in product testing can lead to stronger sales and better marketing.
Perhaps most importantly, innovation thrives when the people making decisions understand the people they serve. When women shape strategy, investment and product design, solutions naturally become more relevant and effective. Studies have consistently shown that diversity gives organisations a clear strategic edge.
Finally, after decades of neglect, innovation and investment are beginning to catch up. Although less than 4 per cent of US research funding goes to women’s health, startups like Midi Health and Allara Health are personalising midlife hormone care for women, and major providers have established dedicated centres focused on women’s cardiovascular and overall health.
At the same time, new investment platforms are closing gaps left by traditional financial institutions. Ellevest, for example, designs portfolios that account for gender pay gaps, longer life expectancy, and divorce, while Alinea uses AI-driven tools to help Gen Z women invest with confidence.
This shift is increasingly visible in consumer goods as well. Drinkware maker Stanley, once known for rugged utility, has seen explosive growth fuelled by women who turned its bottles into lifestyle icons.
The lesson is clear: by involving women in the innovation process, companies can tap into markets that have been hiding in plain sight. Serving women better is more than fair: it could unleash a wave of global economic growth. Project Syndicate, 2025
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