Q&A WITH DONNA MILLER
Purse Power founder calls on women to support companies that support them
Q: The Oklahoma City-based startup Purse Power is fast becoming a force for positive change. What is Purse Power?
A: Purse Power is a technology and marketing company that connects female consumers with the more than 10 million womenowned and led U.S. companies. American women control trillions of dollars in purchasing power. Purse Power makes it easy for women to find and reward companies that support women and use their financial clout to enable economic equality, increase opportunities, fund programs and places that help to reduce domestic violence to support women, increase opportunities and save money — all at the same time. Q: Which companies qualify for Purse Power membership? A: Those owned at least 50 percent by women, have female chief executives or have corporate boards composed of at least 20 percent women. Such criteria creates fair opportunities, according to research that shows companies with greater representation of women in leadership outperform those that don’t.
Q: How do women control the purse strings of today’s economy?
A: Research shows women make between 73 percent and 85 percent of all purchasing decisions. For the next two generations, they’re projected to control 70 percent of the wealth in this country and make or influence 67 percent of investment decisions. Despite those stats, women currently hold fewer than 6 percent of the CEO jobs and around 21 percent of corporate board seats. If women will come together and use their extraordinary economic power to reward the companies that support them, glass ceilings will shatter and lives will improve in a matter of quarters rather than decades.
Q: What’s the tie to Women’s History Month?
A: This year’s Women’s History Month comes in the midst of an unprecedented global movement for women’s rights, equality and justice. Although the marches and movements have raised awareness of the issues, we believe that Purse Power is the most effective way to transform this momentum into constructive action and drive positive change.
Q: Where can people learn more?
A: Visit www.pursepower.com. If your company qualifies, please sign up for a free listing. In honor of Women’s History Month, if you register your business before March 31, using the coupon code FreeatLaunch2018, you will receive a $1,200 premium package at no cost to you. Qualifying businesses always will be able to get a free basic listing. After March 31, upgraded listings with robust benefits will be available at reasonable costs.
Q: What can women who aren’t CEOs or business owners do?
A: Spread the word. Our hashtag is #pursepowerinc. Use www.pursepower.com to find and buy from women-owned and women-led businesses near you and invite me to share the Purse Power story at an upcoming women’s event. Most importantly, use your economic power to reward the companies that support women. Purse Power: We have it. Let’s use it.
PAULA BURKES,