“Renowned Entrepreneur Kiran Mazumdar-Shaw Calls Out ‘Pink Tax’ Gender Bias”
Renowned entrepreneur and Biocon chief Kiran Mazumdar-Shaw has vehemently criticized the pervasive practice of ‘Pink Tax,’ shedding light on the gender-based price disparity faced by women. The term ‘Pink Tax’ refers to discriminatory pricing tactics that inflate the cost of goods marketed to women compared to similar products targeted at men.
Renowned entrepreneur and Biocon chief Kiran Mazumdar-Shaw has vehemently criticized the pervasive practice of ‘Pink Tax,’ shedding light on the gender-based price disparity faced by women. The term ‘Pink Tax’ refers to discriminatory pricing tactics that inflate the cost of goods marketed to women compared to similar products targeted at men.
Mazumdar-Shaw took to social media platform X to share a compelling video highlighting the exorbitant pricing differentials between products intended for women and those for men, despite being identical in size and quantity. In her impassioned post, she urged women to boycott such products, denouncing the underlying gender bias inherent in the pricing strategy.
According to the World Economic Forum (WEF), gender-based price disparities are rampant across various sectors, with personal care products being one of the most glaring examples. Items such as soaps, lotions, razor blades, and deodorants are often marketed specifically to either women or men, leading to inflated costs for women.
“Pink Tax! A shameful gender bias that women must respond to by shunning such products,” declared Mazumdar-Shaw in her social media post on X, sparking widespread support and engagement from users.
The post, shared early on Wednesday morning, garnered a staggering 1.58 lakh views within hours, underscoring the urgency of addressing this issue. Numerous users echoed Mazumdar-Shaw’s sentiments, expressing solidarity and advocating for action to combat the ‘Pink Tax.’
Commenting on the dilemma faced by consumers, one user questioned the feasibility of alternative options, stating, “Absolutely agree. Question is how should we get around it? It seems a hard choice between buying male products or not buying these products at all.”
Another user commended Mazumdar-Shaw for bringing attention to the issue, emphasizing the need for collective efforts to eliminate the ‘Pink Tax’ and ensure fair pricing practices.
What exactly is the ‘Pink Tax’? Contrary to its name, it is not an official government levy but rather refers to the discriminatory pricing strategies that disproportionately burden women. The phenomenon gained significant attention in 2015 when New York City’s Department of Consumer Affairs exposed numerous instances of gendered pricing among 794 products sold in the city.
Researchers have been scrutinizing the ‘Pink Tax’ since the 1990s, highlighting its detrimental economic impact on women, who continue to earn less than men. The United Nations has urged countries worldwide to take decisive action to eradicate the ‘Pink Tax’ and promote gender equality in economic participation.
As voices like Kiran Mazumdar-Shaw’s amplify the call for change, the fight against gender bias in pricing practices gains momentum, underscoring the imperative of creating a fair and inclusive marketplace for all consumers.
Sources By Agencies
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