Woman Often Pay More Then Men

Did you know that the female versions of some products actually cost more than the male versions. It’s true, and many people refer to this as the pink tax.

According to the New York Department of Consumer Affairs, women pay this pink tax 42% of the time for the same items that men buy. On one hand, these price difference can somewhat be explained by differences in demand and production costs, but is sexism and price gouging involved?

Well, this is where the debate lies, and it isn’t as clear cut as one might think. To start with, it’s very difficult to follow the production metrics for a particular product. How much does an item cost to produce? How much is the inventory bought for? What contracts are in place?

There are way more questions than answers, but according to Ted Potrikus, President and CEO of the Retail Council of New York State, retails are not to blame for these price discrepancies. Retailers have to price competitively, so it makes zero sense for them to price gouge normal commodity items.  

While evidence and information on this issue is limited, many individual states and cities are taking steps towards preventing the “pink tax”. California for instance banned gender based price discrimination in 1995. Many other cities and states have followed suit since then. Hopefully, as more information and awareness is brought around this topic, a solution can be reached.