IIC Partners, an independent international consulting agency, recently released a study that found while women are still the primary decision makers for consumer purchases, they account for only 25 percent or less of senior executives at 60 percent of consumer product and retail companies worldwide.

Within the retail industry alone, 64 percent of companies polled said their senior executive team was less than 25 percent female. This was mirrored for companies of all sectors and sizes, with the average senior executive team across the globe being 75 percent or more men.

“As many have noticed, that number is disappointing,” said Jean-Marc Danton, consumer and retail worldwide practice group leader for IIC Partners, in an interview with the Women in Retail Leadership Circle (WIRLC). “The proportion of women in executive-level jobs is low — just under 25 percent. However, it’s on the move. In addition, more findings indicate gender diversity is a primary objective in the workforce. And there’s a new generation of women approaching the executive level.”

The study re-enforces Danton’s statement and recognizes the need for more senior-level executives. Fifty-two percent of respondents said they expect to hire more senior-level females in the future. Sixty-one percent said the issue of gender diversity was either “very important” or “somewhat important” to the CPG industry. This number is highest in the retail category.

“There are more people working in retail functions than in marketing or creative functions currently,” noted Danton. “Companies such as Sephora and Louis Vuitton are rare.”

Danton continued to talk about the changes being made and what diversity in the workforce will look like in upcoming years.

“I’m optimistic that if we have a new survey in three years to five years that at least 40 percent of women will be in senior executive roles within the retail and consumer product sector.”