· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: With a skyrocketing interest in women's sports and other women-led initiatives, there is a notable increase in audience engagement and market potential that fintech companies should not overlook
• Women's sports events are drawing record viewerships, and the growing economic influence of women is reshaping market opportunities across various sectors
🔭 The context: Historical underrepresentation and outdated advertising practices have not kept pace with the evolving role of women in the economy
• Despite women propelling a greater share of spending, systemic challenges persist, and the potential of the women’s market remains largely untapped, with women-led startups receiving a fraction of venture capital funding
🌍 Why it matters for the planet: The surge in interest in women’s sports and the increasing influence of women in the economy reflect broader shifts towards inclusion and diversity
• These trends have significant implications for social and economic sustainability, promoting gender equity and creating more inclusive market opportunities
⏭️ What's next: Fintech companies have a critical role to play in bridging the gap between e-commerce and consumer needs, especially in catering to the female market
• By leveraging data and innovative payment solutions, fintech can enhance their offerings, tapping into a segment known for higher loyalty and lower default risks, ultimately driving forward economic inclusion and diversity
💬 One quote: “Women have always been a deeply underestimated economic force,” said Blair Kohan, a partner and agent at talent agency UTA.
📈 One stat: Women-led startups received a mere 2.3% of all venture capital funding in 2020.
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