Pink Tax? What is that?
The term pink tax refers to gender-based pricing of certain goods and services, where the items marketed towards women tend to cost more than those marketed for men.
Statistically, women earn approximately only 80% of what men do in yearly wages, and this gap is further worse for women of color. The pay gap isn't as noticeable for younger women, but has the tendency to grow for women over the age of 35. The extra charges imposed by the woman tax, even if they may seem small for each item, can add up to an average of $1,351 per year, which isn't a negligible figure.
Societal impositions on women about how they should look and act aids in the normalization of the tagged-on price differences. The phrase "shrink it and pink it," describing the creation of products marketed towards women to be smaller and more "feminine" looking, takes advantage of it, and can result in the item containing less of the product than the version aimed at their male consumers.