Be ready for the SHEconomy!
In the 21st century, women want healthier and more innovative products, and they've decided to make them themselves.
One of the most famous one to do so is Emily Weiss, who started her beauty blog "Into the Gloss" to inspire and inform women about skincare.
Nine years later, the blog turned into a brand Glossier that she scaled into a 1 billion-dollar company. She achieved that performance by creating a community of devoted female customers through engaging content and product co-creation where other traditional beauty brands have been failing to keep up.
Beauty companies have been among the most high-profile women-led startups. That's because of the low costs of website creation, third-party logistics, and social media marketing.
Women outspend the average household in categories such as fashion, restaurants, and personal care products.
By 2030, 45% of prime-working-age women between 25 and 44 in the U.S. will be single, the largest share in history, according to a study titled "Rise of the SHEconomy" by investment bank Morgan Stanley.
Some female innovators are already taking advantage of this trend by starting female-centered services. Radha Jain and Genevieve Payzer are co-founders of Fit to Form, a website where women can shop for clothes that have been tried on and recommended by women with the exact measurements.
This idea came from the struggles they both had shopping online as petite women and never knowing what will fit.
Indeed with over 900 unique body proportions per size, every woman has felt the frustration of not finding clothes that fit. The purpose of Fit to Form is to show these women that their body isn't the issue - the way they are looking for clothes is.
The Stanford University graduates are starting with dresses hoping to add more ready-to-wear recommendations to the platform in the future.
As Radha and Genevieve explain," fit is a feeling and feeling great in what you wear and isn't related to how expensive, but rather how it accentuates your best features."
In the age of #Metoo movement, it may seem like a marketing ploy to capitalize on women's empowerment, but Gen Zers and millennials want companies to take a stand and answer a simple question:" Is it for me?"
If you are curious to experiment with Fit to Form, click here