March is Women’s History Month—a celebration focused on highlighting the contributions of women in our nation’s society and culture.

Although women make up more than half of major retailer’s workforces, less than three percent of companies have female CEO’s according to a study by Catalyst. Does the industry need more female executive and women in leadership roles? The answer for many is “yes.”

Here’s a few reasons to consider – women’s strengths can differ from men’s. Women build strong teams and pay attention to the implications of their own actions. Women’s perspectives are customers’ perspectives. Women drive 70-80 percent of all consumer purchasing, through a combination of their buying power and influence.

Gender diversity strengthens business – the perspective offered by women can help to inform, influence, and guide retail product development, business, and marketing decisions and help companies outperform their competition.

The tradition dates back to the first International Women’s Day in 1911. In 1978, the Sonoma, California school district planned a Women’s History Week. President Jimmy Carter issued a presidential proclamation in March of 1980, declaring the week of March 8 as Women’s History Week. Congress later passed a law proclaiming March as Women’s History Month in 1980.

In his announcement of Women’s History Month, President Carter wrote, “From the first settlers who came to our shores, from the first American Indian families who befriended them, men and women have worked together to build this nation. Too often, the women were unsung, and sometimes their contributions went unnoticed. But the achievements, leadership, courage, strength, and love of the women who built America was as vital as the men whose names we known so well.”