Updated: Nov 18, 2018
Companies are finally catching up with the fact that charging women more is bad for them.
A lot of women still do not realize they pay more than men. The PINK TAX gets its name from the color of products marketed to girls and refers to the price difference between products sold to men and women. From baby bottles to razors and shampoos, the New York City Department of Consumer Affairs published a study in 2015:
“On average, products for women or girls cost 7 percent more than comparable products for men and boys. ”
The state of California did a study back in 1994 and estimated that:
“On average, women spend $1,350 (that’s roughly $2,304 in today’s dollars) over the course of a year on the Pink Tax. ”
Yet the Pink Tax is still pretty common.
Apparently the price discrepancy between male and female marketed products originates from manufacturers who deem female products more expensive. To counter the Pink Tax, women's owned companies are taking actions to create new brands ready to absorb the cost of the Pink Tax:
BILLIE is a women’s razor subscription service, that take a stand against the pink tax offering razor subscription for half the price of the women razors in stores and more affordable than men razors.
Those companies and start-ups taking are surprised to see their business flourish. But the road is going to be long. Ultimately consumers have a big role to play to hold companies accountable, continuing to lift the veil on the Pink tax and fights for its eradication.