Rise of She-conomy as women drive consumer spend

South African women are increasingly shaping the consumer landscape, making up the majority of degree holders, smartphone users and contributing nearly half of national income.

In Women’s Month, consumer insights company Eighty20 has unpacked South Africa’s female consumer market using data from various sources to better understand the complexities.

According to Eighty20, the 2025 Income & Expenditure survey reveals with lower fertility rates and rising workforce participation, women's influence on spending patterns is accelerating.

On average, women still earn significantly less than men, with female-headed households earning R93,540 per annum compared with R176,812 for their male counterparts.

According to recent MAPS (Marketing All Product Survey) and Stats SA data, there are nearly 1.5-million more women than men in the country (they tend to live five years longer), women represent 59% of undergraduate degree holders, 52% of smartphone owners and contribute 45% of national income.

Declining fertility rates (from 2.78 children per woman in 2008 to 2.21 today) have accelerated women's participation in higher education and workforce entry, fundamentally reshaping consumer spending patterns across most categories.

The Eighty20 national segmentation tool — which provides an overview of consumer behaviour and characteristics — zoomed in on the female market, which features among other segments the heavy hitter, mass credit market and middle-class worker.

Heavy hitter

The heavy hitter is typically a well-educated woman in her 40s with an average personal income of R36,000 per month.

There are about a million women in this segment.

Most of the heavy hitters (43%) live in Gauteng, followed by 22% in the Western Cape. They are tech savvy and believe in brand loyalty.

According to Eighty20 this segment is most likely to own an Audi more than any other segment and is most likely to shop for toiletries at Dis-Chem.

The heavy hitter spends an average of R3,660 on groceries at Pick n Pay, Checkers or Woolworths and the average seasonal clothing spend is about R1,940 a month at Woolworths, Mr Price or Ackermans.

Sixty percent have home loans, 50% have vehicle finance and 62% pay for streaming services such as Netflix and Showmax.

Mass credit market

With the mass credit market segment, the average age is mid-30s, with a monthly income of about R5,000.

There are about 7-million in this segment, with 32% from Gauteng and 18% from the Western Cape.

The average monthly grocery spend is about R1,589 from Shoprite, Spar and Pick n Pay, while the average seasonal clothing spend about R1,698 from stores such as Pep and Mr Price.

One percent have mortgages and vehicle finance, while 12% pay for streaming services.

Middle-class worker

In the middle-class worker category, comprising about 2-million women between the ages of 25 to 29, the average monthly personal income is about R11,000.

Thirty-nine percent live in Gauteng and 23% in the Western Cape.

The average monthly grocery spend is R2,317 from Pick n Pay, Shoprite or Checkers, while the average seasonal clothing spend is R1,894 from Pep, Ackermans and Mr Price.

Twenty-eight percent have home loans and 23% have vehicle finance, while 37% pay for streaming services.

Companies targeting women as a demographic

“It is not surprising that many brands have targeted women as a demographic category, using everything from superficial gender markers (think pink razors, “Bic for her” pens and a lot of alcohol advertising) to product or service adaptations that address real functional differences or preferences,” said Andrew Fulton, Eighty20 director.

A recent example is Saysh, a company founded by Allyson Felix, the most decorated female track and field Olympian in history, that produces shoes designed for women’s bodies and how they change through age or pregnancy. After parting ways with Nike due to their lack of support during her pregnancy, she created a brand that champions women. 

Fulton said many companies have recognised the unique needs of this segment and have leveraged that into solutions and products that resonate.

“There are women-only gyms like Curves or Feminique, which not only cater to women, but considering 65% of single-parent families are headed by women, also provide childcare facilities.

“Bumble did not just create another dating app — they recognised that women want control over initial contact, adding a safer option to internet dating. Uber recently launched a pilot programme in the US that caters for both female drivers and passengers. The service allows women passengers to request women drivers, but also facilitates women drivers accepting only female passengers.”

Countries with a highly skilled and economically active female workforce are more competitive on the global stage, according to research done in the UK, as they harness the talents and capabilities of a larger portion of their population

—  Flux Trends

1st for Women began as a motor insurer focused exclusively on women, then moved to a range of non-life and life insurance policies, as well as value-added products designed for, and by, women.

“1st for Women’s approach and its success demonstrate the importance of conducting research to understand women’s needs before launching products for them. The company has learnt that if a product resonates with customers and it is marketed well, success will follow,” said Seugnette van Wyngaard, head of 1st for Women.

“To remain relevant, servicing the real needs of customers is becoming increasingly important in a market where the most growth is coming from market share gains,” said Fulton.

Flux Trends, consumer and business trend analysts, said Nielsen predicts that by 2028, women will own 75% of the discretionary spend.

“Experts are calling this growth in economic activity the She-conomy — a female-powered economy whereby women are pushing economic activity forward in two ways: as a workforce propelling better company performance and as consumers raising consumer spending,” said Flux Trends.

“The drivers for this economy are women delaying marriage, choosing to stay single and getting divorced later in life. They are also delaying childbirth and having fewer children.

“Because women are earning more money today than they did in the past, they have become significant purchasers of cars, homes and consumer goods. According to Deloitte, a more diverse workforce with a balance of genders brings different perspectives and ideas, which can enhance innovation, creativity and problem-solving within organisations.

“Economic independence empowers women to make important life decisions, such as family planning, education and career choices, and enables them to have a stronger voice in society. Countries with a highly skilled and economically active female workforce are more competitive on the global stage, according to research done in the UK, as they harness the talents and capabilities of a larger portion of their population.”