Monday, 21 December 2009

  • Why It Costs More To Be a Woman

    twentyfivecents@dollarish sent us a disturbing article from MSN Money about how women are typically charged more than men for essentially the same products.

    Women-targeted products, such as lotion, shampoo, razors, and so on, can cost as much as 50% more than their male or unisex equivalents, according to Consumer Reports. Occasionally the ingredients differ slightly to include special lotions or scents, but it's rarely enough to justify the markup. Most manufacturers realize that women are often the key purchasers in a household, so they are sometimes willing to spend more on themselves.

    But the higher prices are not limited to everyday products:
    • As documented in a 2006 study, 41% more women pay high-cost sub-prime mortgages than men, which can mean an extra $120 a month or so.
    • Women's insurance premiums can be 22% to 50% more expensive than men's.
    • And of course, women continue to bring home only 78% of what a man of equal experience would earn. So it's not like we're rolling in cash.
    I always knew that women earned less than men, but the markup on everyday products was really news to me. Next time I run out of shampoo, deodorant, or anything like that, I'm definitely going to look into purchasing a men's equivalent.

    And I can't stress enough how so often the products contain identical ingredients. For example, Clinique's M Lotion for Men is exactly the same as their women-targeted Dramatically Different, however the latter is almost twice as expensive.

    Are you surprised that women's products are so much more expensive? Will you take this into account next time you go shopping?

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