Here’s what we’ve found, in brief: Women feel vastly under served. Despite the remarkable strides in market power and social position that they have made in the past century, they still appear to be undervalued in the marketplace and underestimated in the workplace. They have too many demands on their time and constantly juggle conflicting priorities—work, home, and family. Few companies have responded to their need for time-saving solutions or for products and services designed specifically for them.
Entrepreneur, a mother, a beauty queen an avid traveller and with an ability to cook that makes her look like she has just stepped out of a season of Master Chief, Somaya Ong has joined the Business Lifestyle Review as the Women’s Lifestyle Editor and now she aims to help brands connect with women consumers.
Somaya Ong a Malaysian with over 10 years in the local and international travel industry working for MAS and Cathy Pacific Airlines. In 2015 Somaya was awarded the community service award from the US based WIN Foundation prior to receiving the Mrs. Malaysia Globe title in 2014. She recently the Asia Success Award all this while being the ‘Mommy Model’ for Subaru and Magic Clean.
‘I have had the chance to travel, experience many different cultures and enjoy good food, I have contributed to society with various community projects, I have also run my own small events business and now I’m excited to be a part of building the Business Lifestyle Review brand and to infuse a female touch into the editorial team”.
‘Business Women are sometimes overlooked yet they are a huge part of the economy both in terms of their spending and in terms of what they have achieved in their working lives, there are many women business owners in Malaysia that need to be highlighted’
‘I want to also review CSR projects as this is an area that I have been involved in for the last few years and it something I feel strongly about, large corporations should also look at how they are creating impact for women in their CSR projects as this will greatly improve the impact of the project, my work with promoting breast feeding was a good example’
Globally women are big spenders, their USD13 trillion in total yearly earnings could reach USD18 trillion in the years to come. To put that in perceptive, women represent a growth market bigger than China and India combined—more than twice as big, in fact.
According to research published by the Harvad Business Review on the ‘Global Female Economy’ women make the decision in the purchases of 94% of home furnishings…92% of vacations…91% of homes… 60% of automobiles…51% of consumer electronics, those are some big numbers.
What do women want? They seek to buy products and services from companies that do good for the world, especially for other women. Brands that—directly or indirectly—promote physical and emotional well-being, protect and preserve the environment, provide education and care for the needy, and encourage love and connection is the start
In turn they can build deeper relationships that will lead to multi-level engagement, enhancing brand awareness and customer loyalty
Malaysian companies need to be more aware of the potential of the female economy, they will find a whole new range of commercial opportunities in women’s social concerns. We know that globally women control over USD20 trillion in annual consumer spending, and on current trending it will climb to as high as USD28 trillion in the next five years.
The Business Lifestyle Review focuses on quality content, stories that are engaging and informative, we know that it takes a certain type of person to be a business leader and business people have a certain lifestyle that includes access to the best in life. ‘The work hard play hard’ approach leaves many business people looking for the rewards of hard work with a lifestyle that can only be afforded by successful people.
The Business Lifestyle Review is hosted on the Malaysia Global Business Forum which is organised by Glenreagh Sdn. Bhd.