Webrain Reports Archive
#201 – Digital Transformation for Women’s Quality of Life (Femtech)
In both the US and around the world, women wield a huge spending power. This “She-Economy” is a driving force that is advancing women in business and society, but it is not one that has always been recognized or respected by marketers. History has recorded numerous instances where companies completely missed the mark as they tried (and failed) to customize everything from cars to computers for the women’s market.
Not surprisingly, simply putting a pink cover on laptop does not guarantee it will instantly appeal to female consumers. More critically, healthcare research has been impacted due to a longstanding reluctance to use women in medical test trials, thereby largely overlooking their unique needs during the development of products and procedures.
Experts note, however, that a massive shift is under way as more and more companies are focusing on the specific needs of women, particularly in healthcare. If this has been problematic in the past, why is it gaining traction now? The short answer is technology. With the application of IT, this emerging sector of “femtech” is quickly becoming a formidable market force. With VC funding flowing into femtech companies, the category is projected to hit $50 billion by 2025. Is your company properly positioned to target the specific needs of half of the world’s population?
In this report, Webrain examines the Digital Transformation of Women’s Quality of Life, and notes that it is supported by three strong components: hyper-personalized marketing; empowering women to discuss their needs in a tech framework; and making health solutions that are more affordable and available to women.