What Is The Pink Tax?

Do you shop online, locally, or at discount stores? Or, do you pay full retail when looking for new items? For a large percent of the population, saving money is a big priority. One way to cut back on expenses is to look for sales, buy things at a discount, shop in bulk, and cut out luxuries like that daily latte. Even when employing all, or some of these tactics, savvy corporate executives still find ways to turn a profit. Most of us are aware of the debate over disproportionate treatment among men and women, especially in the workplace. A new study shows a slightly different take on this age old controversy.

A news report from Fox’s San Antonio affiliate hints that the amount you pay for a product varies depending on your gender. It is being referred to as the “pink tax”, and here is what the report found:

• Like products, an example given was flip flops, are priced higher for women than they are for men.
• Deodorant costs around $1.00 more for women than it does for men.
• The overall total spent for five consumer goods purchased was $7.00 more for products geared toward women versus those packaged for men.

In most households, women do the majority of the shopping. This could be why companies package products in ways that are attractive to females, and also price them higher. Women also tend to spend more time in the store than their male counterparts, which means the chance that more products will be purchased is greater. The ironic part of this story is that many of the products contain the same ingredients, so there is no reason for a difference in price. But, because companies are profiting from the practice, it is not likely to end anytime soon.  

For help with your tax issues, call our office. Let the professionals at Nielsen Law Group assist you with all your tax related issues. Call (480) 888-7111 or submit a web request here.