I brought this up in another thread, but I wanted to share it again here to see what others might think. Reading through the last two Nintendo Investor Relations presentations, these were the sections devoted to Smash Ultimate.
There is a repeated notion of Smash bros. appealing to a wide range of consumers, particularly it mentions gender. I find this interesting for two reasons, first is the Smash Ballot. Besides voting for a character, listing what game they come from, and giving a reason why you think the character should be a fighter, the ballot also asked for your gender. Character popularity among gender seems to be an important enough point that they included it into the data collection process. Now with the widening range of consumers, which insinuates that there is a larger female market playing smash, it could make sense that at least one of the last two DLC spots might be a character targeted towards a female audience.
The second point why I find these two excerpts interesting is the timing of our 4th and 5th character. The 3DS is at the end of it's lifespan, and with the announcement of the Switch Lite in September, it's clear that Nintendo's goal with the new console is to get the 3DS crowd to "Switch' over to the Switch. In fact, most of the major planned releases this year are predominately portable titles, such as Pokemon, Fire Emblem, and Animal Crossing. What I'm saying is that Nintendo's strategy for the holiday season of 2019 is to appeal to the DS/3DS market, which is when character 4 and 5 will be announced or released.
It could be that I am reading too far into the investor relations, but from what i've gathered it could be possible that character 4 and 5 might be used as apart of a push to attract portable gamers to the console, and reflect it by being characters that are popular with that crowd.