If you are a woman that has ever bought feminine products, then you are subject to the Pink Tax. You might have heard of this term before, but what is it really? The pink tax refers to the extra amount of money women pay for gender-specific products and services, even if they serve the same purpose as the men’s version of these products. In other words, the Pink Tax (also known as gender-based pricing) is not a tax, but a system of discriminatory pricing on products and services based on gender. For example, according to a New York City Department of Consumer Affairs report, a bottle of women’s shampoo and conditioner costs up to $2.71 more than men’s shampoo that is the same except for the scent and packaging.
Every woman of every age and color is subject to gender-based pricing. A New York City Department of Consumer Affairs report found that even young girls cannot escape the Pink Tax because ‘girl toys’ cost an average of 2 – 13 percent more than ‘boy toys’ that are the same other than their color. This example is a testament to how subtle but impactful the Pink Tax is on products that are marketed towards women and young girls. You might have also noticed that women’s clothing is also upcharged an enormous amount compared to men’s clothing. According to bankrate.com, the average cost of a woman’s pair of jeans is $62.75, while men’s jeans at the same store cost only $57.09. In addition, recent data reports that the Pink Tax costs women an average of $1,351 every year, and on average pay 7% more than men do for similar products.
What can you do to avoid the Pink Tax? Well, you can save money by shopping for gender-neutral products or for products that are marketed towards men, but that doesn’t work for everyone. Sadly, there is no easy solution to combat the Pink Tax. However, there is hope. In October 2020, the state of New York began enforcing a ban on the Pink Tax by making it illegal to charge more for products and services that are extremely similar, just marketed towards different genders. There is still a lot of work to be done about the Pink Tax, but progress is being made. You can help terminate the Pink Tax by contacting your local representative and speaking out about gender-based pricing. After all, it shouldn’t cost more to be a woman.
Sources
https://www.listenmoneymatters.com/the-pink-tax/
https://www.healthline.com/health/the-real-cost-of-pink-tax
https://www.bankrate.com/finance/credit-cards/pink-tax-how-women-pay-more/
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