NEW YORK (CNN/Money) - A women's advocacy group urged the nation's women to keep their pocketbooks closed Tuesday in what was described as a nationwide "buycott."
"We are hoping that on October 19 women will choose that day to not buy any non-essential goods, so that they can reflect on their enormous purchasing power, which so far has not translated into economic power in the workplace," Janet Hansen, CEO of the event organizer 85 Broads, told CNN.
A statement from 85 Broads estimates that the organization's 4,500 members and thousands more women will abstain from spending.
Statistics show more than 80 percent of all purchases are either made or influenced by women, but that less than 15 percent of top executives in Fortune 500 companies are women.
Businesswoman Kristie Kang told CNN she supports the event because "(it) is a powerful way of just demonstrating to the world that women are neglected, but we are powerful consumers."
However, some women were unreceptive to the protest. Shopper Deepha Goella said, "I don't think it's going to make a difference for women and their position in the world just by shopping." Others worry that women own some of the businesses that could be hurt by the protest.
85 Broads was originally founded in 1999 as an independent global network for current and former Goldman Sachs female professionals.
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