Exploration of the rapid change in feminism versus an incremental change in financial services product offering

Abstract

The recent increase of women as primary earners has led to a subsequent enhancement of women as primary financial decision makers. Despite this increase, the financial services industry has been slow in its response to meeting women‟s financial needs, particularly with respect to the financial product offering. Gender inequalities in the marketing of financial services products have been cited as part of the reason for women‟s dissatisfaction and subsequent feelings of disempowerment by the industry.This study uses a qualitative method of analysis to explore possible reasons for women‟s dissatisfaction with financial services products, using feminism as a theoretical framework as the link is rarely made in literature. Women at different lifestages are interviewed to determine whether a change in lifestages could also contribute to the dissatisfaction in financial services products offering.The possibility that some products could be considered gender biased is also explored.