'Barbie' raked in $337 million globally its opening weekend, and Swifties are spending roughly $1,327 to see Eras concerts. This summer’s female-driven spending is a discernible economic trend, an economist said.
Three female icons are driving the cultural conversation this summer and shining a spotlight on a rising star of the U.S. economy: the female consumer.Demand for Taylor Swift tickets has broken records.
And “Barbie” made $337 million globally in its opening weekend — the most ever for a movie directed by a woman. This summer’s female-driven spending is a discernible economic trend that deserves to be noted, said economist Misty Heggeness, who is writing a book called “Swiftynomics: Women in Today’s Economy.”The moment that we’re in right now — which I cheekily term Swiftynomics — is not specifically a story about Taylor Swift. It’s a story about women’s acceleration of economic power.Swifties spent $1,327.74 on average to see Eras shows, including tickets, outfits, merch, food/drink and travel.
And Beyoncé’s Philadelphia tour stop led to a surge of interest in local restaurants, hotels, town cars and beauty services, especially nail technicians, according to Yelp. The popularity of “Barbie,” Beyoncé and Swift speaks to women’s desire to make decisions about spending that are based on “fair representation, equity and inclusivity,” said Mara Klaunig, a senior analyst at Camoin Associates.There are a record number of women in the U.S. labor force and the unemployment rate among women is at an all-time low of 3.4%, said Denise Moulton, human capital insights leader at Deloitte Consulting.
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