You might have seen brands use the slogan "for women, by women." But why is this designation so important?
In this article, we'll share 3 fantastic reasons why we're shopping women-owned this holiday. In fact, Keaton will be participating in the first-ever Women Led Wednesday (happening 11/27)--a purpose-driven shopping holiday event dedicated to supported women-owned brands.
Empowered women empower women
Shopping with women-owned businesses puts money into the pockets of female entrepreneurs (yay!). But, the buck doesn’t stop there. Women-owned and operated businesses are statistically more likely to hire and support other women. A Harvard Business School study explored the gender bias involved in hiring. The authors found that when women were in charge,“women were hired 50 percent of the time, yet when a male employer was making the call, women had only a 40 percent chance of getting hired.” Case in point: Keaton’s small-but-mighty team is all women, as are many of our vendors and partners, including our manufacturer, photographer, and graphic designer. Historically, women have occupied more junior roles in business, so providing sponsorship is critical.
Shopping women-owned helps level the financial playing field
Forbes recently published an article explaining how women-owned businesses struggle to raise capital when compared to male-owned counterparts:
“An HSBC survey of 1,200 female entrepreneurs from around the world, found that a third reported gender bias when trying to raise capital.”
If women can’t get as much funding, it is harder for them to compete with competitors that shell out pricey promotions and marketing campaigns. A Jane VC founder survey showed that “For every $1 men raise in the early stages [of operating their businesses], women raise $0.37.” Women-owned businesses depend more on profit from sales to drive their business, which makes it even more imperative that consumers support them.
Women leaders advocate for change
Women leading businesses also provide an opportunity for advocacy--for better products, more realistic advertising, and safer and more fair product standards.
Did you know that in many states, tampons and other feminine care products are taxed like luxury goods (the same category that includes yachts and luxury cars--no, this is not a joke). LOLA founders Alex and Jordana are bringing awareness to this discrepancy and supporting state-by-state legislation to attack it head on. Whitney Wolfe of Bumble is similarly focused on fighting for legislation to outlaw sending unsolicited nude photographs. Becca McCharren-Tran of Chromat spoke in a recently published Ted Talk about her company’s mission to “create a world where people of all shapes, sizes, gender expressions, ages, ability levels, races, and ethnicities are empowered on the runway and beyond.” (Did we mention Beyonce has worn Chromat’s designs?). These are but three examples of how women leaders are advocating for the needs of their users in business and beyond.
Let’s celebrate our wallet power this Women-Led Wednesday
As we move closer to the holiday gift-giving season, don’t forget to shop women-owned! Your purchases make a huge impact.
Keaton’s goal to support female business owners led us to participate in Women Led Wednesday, an international shopping holiday happening this November 27th. Women Led Wednesday aims to join together like-minded brands to encourage the public to shop women-owned for a gender-balance economy.
To shop and support women-owned businesses, check out the Women Led Wednesday website and scroll through their directory of businesses. You can also check out these businesses on social media by searching the hashtag #womenledwednesday. If you’d like to learn more about Keaton, our go-to hashtag is #shewearsthepants. Stayed tuned for more announcements about the special promotion we'll be offering on 11/27!