Conversational Commerce: Why everyone is talking about women in retail
Executives from the Female Founders Fund and MM.LaFleur weigh in on what needs to be done to close the gender gap.
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The numbers are stark: While women represent about 60% of all people working in retail, only 10% hold executive board roles. Women in retail only receive about half the amount of venture capital funding of their male counterparts. And the number of female CEOs of Fortune 500 companies is shrinking. The number fell from an all-time high of 32 in 2017 to 24 last year.
Now it's not that women are suddenly facing more issues than they have previously, but people are talking about it more. With added attention to gender inequality thanks in part to the #MeToo movement, the unique challenges that women in particular face in the workforce are becoming inescapable topics that retailers have to address.
This time on the show, the conversation is about closing the wage gap and funding more female entrepreneurs from experts Sutian Dong, a partner at the venture capital firm Female Founders Fund, and Jennifer Braunschweiger, VP of Brand Marketing at women's clothing and styling company MM.LaFleur.
"As we have this conversation and as we want these numbers to come up, my real dream is that we get to a place not just where the numbers are even but where we're able to talk about women not as a monolithic group, you know and really understanding that success for women takes on all sorts of different looks," Braunschweiger said.
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