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Any company that ignores this trend is making a huge mistake. And by "catering to females", that had better be more than just offering men's gear in pink.
I don't think it takes a business degree to understand that women buy stuff. People can stand around being confused about why women are different than men OR they can look at the situation for what it is and offer the products women want to buy. Women shop period end of story. What more do you need to know to get on board?