Business: Taylor Swift, ‘Barbie’ are unleashing the spending power
Summer is the season of girl power, thanks to Beyoncé, Taylor Swift, and Barbie.
People across generations are paying through the nose for these experiences, providing a boost to the economy powered by women.
Chelsea German, 15, said she enjoyed going to Taylor Swift and Barbie concerts with her family. There is no other way I would have preferred it.”
Over $1 billion has been earned by “Barbie” so far at the box office. Beyoncé’s tour was so successful that she was blamed for boosting inflation in Stockholm. According to the California Center for Jobs and the Economy, Taylor Swift’s Eras tour will bring $320 million to Los Angeles over the final six nights.
Warner Bros. distributed “Barbie” through its Warner Bros. division. It’s discovery time.
The current situation shows that women should not be underestimated. The impact they have on economies is not to be underestimated,” said Kristina Chiappetta, executive strategy director at Landor & Fitch. The problem is that brands haven’t talked to them in their own language for a very long time.
A total of eleven women and girls from Chelsea’s extended family went to see Taylor Swift at MetLife Stadium in East Rutherford, New Jersey, ranging in age from 12 to 54. There have been at least seven viewings of “Barbie.”
It was nice to be involved in something that had such a girl-positive message, which is not the norm. So hopefully, this sparks a turn, and maybe we’ll see more of it,” said Chelsea’s mom, Jennifer Deutsch.
Over 80% of consumer spending is controlled or influenced by women, according to Chiappetta. Tap into that and you’ll be able to succeed.
Women in the United States are earning – and spending – a paycheck at a greater rate than ever before.
As a result of the pandemic “she-cession,” the participation rate of women in the labor force has reverted to pre-pandemic levels.
Bureau of Labor Statistics data show that the labor force participation rate for women in their prime working age of 25 to 54 reached an all-time high of 77.8% in June. In July, the unemployment rate dipped slightly to 77.5%, but remained historically high.
Despite two canceled flights, Helen Polise and her daughter July were determined to attend the last Taylor Swift concert in Los Angeles.
Regardless of what happens, I will be going today. As a result, I made it happen,” Polise said.
Since May, they have been planning to see Taylor Swift’s Eras tour: dinners, outfits, beads, a last-minute first-class ticket, and “Barbie.”
The experience was unlike anything we have ever done together before. Therefore, Polise said that he was willing to go to any lengths to achieve his goals.
Chiappetta said these women-powered experiences this summer are so special because they are relatable to the women on screen and on stage.
When you watch the ‘Barbie’ movie or read Taylor Swift lyrics, you get a sense of the full multi-dimensional experience of being a woman today. When you look at traditional marketing, you haven’t seen much of that. Women are often talked to in a very one-dimensional way by a lot of brands,” Chiappetta said.