- ByStartupStory | March 16, 2024
Biocon chief Kiran Mazumdar-Shaw has strongly criticized the phenomenon known as the ‘Pink Tax,’ denouncing it as a form of gender-based price disparity. Mazumdar-Shaw shared a video on social media illustrating why products marketed to women are often priced higher than similar products marketed to men. In her accompanying post, she urged women to boycott such products, branding the Pink Tax as “a shameful gender bias.”
Mazumdar-Shaw’s post quickly gained traction, amassing 1.58 lakh views within hours. Other users voiced their agreement with her stance, acknowledging the prevalence of the Pink Tax and expressing solidarity with efforts to eliminate it. One user questioned the dilemma faced by consumers, pondering whether to opt for male products or refrain from purchasing affected items altogether.
The Pink Tax, while not an official government levy, refers to the discriminatory pricing that inflates the cost of goods targeted at women. This issue gained prominence in 2015 when New York City’s Department of Consumer Affairs uncovered numerous instances of gendered pricing among various products.
Despite receiving attention only recently, researchers have been studying the Pink Tax phenomenon since the 1990s. Its economic impact on women is significant, as they continue to earn less than men, exacerbating the financial burden they bear.
The World Economic Forum (WEF) has highlighted the discriminatory nature of Pink Tax pricing, emphasizing the need for action to alleviate its effects. The United Nations has called upon nations worldwide to take measures to eradicate the Pink Tax, ensuring women can achieve full and equal participation in the economy.
