According to the Office for National Statistics (ONS), in April 2024, the median hourly pay for women in full-time employment was 7% less than men - this difference is referred to as the gender pay gap. Although this gap has been decreasing since 1997, it is still prevalent today and something that has made this economic situation worse for women is the pink tax. 

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What is the pink tax?

Research has shown that products made for and targeted towards women can sometimes cost more than comparable items made for men, even though there is no significant difference between the products themselves. It is this difference in cost that is referred to as the pink tax. 

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This difference can be seen in items across a variety of sectors, including clothing, haircuts and even toys, but the area where it is probably most noticeable is in personal hygiene products. Pink razors are often given as an example of an increased price tag, but items like body wash, lotion and deodorants marketed specifically towards women have been seen to cost more than those for men. Another good example is facial moisturiser - once you know there’s a disparity, you can’t help but scan the shelves to find similar products with a difference in packaging and an even bigger difference in cost. 

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Additionally, women face the extra costs that come with buying fertility, menopause and menstrual products. Thankfully, the ‘tampon tax’ was abolished in January 2021 which means period products like tampons, pads, period pants and menstrual cups are no longer taxed (that’s from 5% to 0% VAT) but for most women, they still need to be bought on a regular basis. 

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So, with women’s products costing more, but their paychecks amounting to less, it means that women are at a financial disadvantage, even when simply buying day-to-day consumable products. 

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So what do we do about it?

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Shop around

• When you’re in the supermarket, compare prices of comparable products and don’t be afraid to shop in the mens section or buy gender neutral products. If you’re looking for a certain skincare product for example, look at the ingredients and not just the packaging - just because it says ‘for men’ doesn’t mean that it doesn’t do the same job. 
• Choose the generic brand rather than name brand products as often they work just as well at a lower price. 
• Consider purchasing reusable period products such as menstrual cups or period underwear.  

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Get educated

• Combat the financial unfairness by educating yourself and developing a solid financial plan. Learn about the benefits of investing and create a budget that helps your money to grow. 

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Advocate for change

• While the pink tax and gender pay gap are still very much prevalent, then the best thing we can do is educate ourselves, raise awareness for the issue and advocate for change! If you see a brand trying to charge more for the ‘women’s version’ of a product that is the same as the men’s, don’t be afraid to complain.

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