In his day, performer and soul guy James Brown had a credibility as the hardest operating guy in program service who vocalized hits consisting of “It’s a guy’s world.”

However that was then, this is now, and I send it hasn’t been a guy’s world for rather a long time.

A peek at some current stats reveals that when it concerns purchasing power, women are the ones rocking your home and making sales register sing all over the nation.

Females comprise over half of the U.S. population, and control or impact 85% of customer costs (Source: Forbes 2019).

The buying power of ladies in the U.S. varies from $5 trillion to $15 trillion every year (Source: Nielsen Customer 2013).

Females manage more than 60% of all individual wealth in the U.S. (Source: Federal Reserve, MassMutual Financial Group, BusinessWeek, Gallup).

Females purchase over 50% of standard male items, consisting of cars, house enhancement items and customer electronic devices (Source: Andrea Learned, “Do Not Believe Pink”).

Roughly 40% of U.S. working ladies now out-earn their spouses (Source: U.S Bureau of Labor Data).

By the year 2028, ladies will own 75% of the discretionary costs (Source: Bankrate).

Here are a couple of more statistics I wish to share that all of us require to pay attention to:

66% feel misinterpreted by the healthcare market (Source: Greenfield Online for Arnold’s Women’s Insight Group).

74% feel misinterpreted by automobile online marketers (Source: Greenfield Online for Arnold’s Women’s Insight Group).

God forbid 1% feel by doing this about us.

However, reality be informed, while this specific research study did not have comparable numbers for furniture, we have actually all heard stories of how female customers frequently feel misinterpreted by us.

And based upon the stats revealing her purchasing power, we just can’t pay for not to comprehend her totally.

So, with that in mind, and as somebody who has actually reported on our sector for years, I was constantly a bit mystified (and worried) regarding why we did not have a much bigger ratio of women in executive positions.

When I initially began reporting on furniture back in the late ’80s, I asked one senior officer, a male, to provide me a photo of the market I had actually simply signed up with. Without missing out on a beat, he quipped, “It’s a great old kid club. Plain and basic.”

And for several years, in spite of the remarkable contributions of folks like Aminy Audi, Jena Hall, Caroline Hipple, Carolyn Crowley, Connie Post and others, the deck was basically stacked with Kings versus Queens. ( No disrespect suggested to either gender.)

Because of the stats I shared, I more than happy to see us relocating the ideal instructions.

La-Z-Boy has Melinda Whittington at the helm as president and CEO, Carol Lee as primary info officer, Raphael Richmond as primary compliance officer, and Katie Vanderjagt as primary personnels officer.

Williams-Sonoma, on the other hand, has Laura Alber as president and CEO, Marta Benson as president of Pottery Barn, and Jennifer Kellor as president of Pottery Barn Children.

Even closer to house, we have Tammy Nagem doing a fantastic task as head of the Peak Market Authority.

It’s an ever-changing, brave brand-new world, and recently, it appears it is altering quicker than ever.

I genuinely hope this market will not just equal modification however make it a practice to prepare for modification and be waiting to welcome it when it comes barreling around the corner.

OK. Last idea … if anybody desires evidence about the result of having a lady running a significant furniture operation, go ask Irv Blumkin of Nebraska Furnishings Mart to share a couple of stories about Rose Blumkin, an eager beaver who made James Brown’s lightning-fast phase slides appear like he was sluggish dancing.