“She economy” expected to expand
April 6, 2021 Category China News Round-up, Weekly
The female-targeted market, the so-called “she economy”, is expected to expand in China in the post-pandemic era. Female consumers born after 1990 spend the most money on cosmetics, pets, personal interests, social contacts and health. Women younger than 30 years old are expected to become the primary consumer force, according to a survey by Shanghai-based Global Harbor and Jade International, a Beijing consulting company. They buy a lot of cosmetics and spend about 20 minutes a day on average applying makeup. China’s emerging national brands have become increasingly popular among young women compared with major international brands. Women in China’s third and fourth-tier cities are expected to represent the biggest potential market.
Office workers in large cities like Shanghai, have become the biggest pet-market consumers. More than half of the followers of cat-related social media accounts are women under 24 years old, and about a third are between 25 and 30. They spend most of their pet-related money on food, medical care, services and toys. Women are also willing to spend money on their personal interests, such as online movies, fitness, reading and online shopping. Younger women around the age of 20 are more interested in games, street culture, selfie photos, pop stars and erciyuan culture, a term referring to anime, manga and games. In addition to entertainment, young women are also focusing on health. A new model of “punk health” – adding Chinese herbs into coffee and soda water – has become popular with this demographic. Half of the nation’s online consumers of health products are women below the age of 30.
The survey was released at the closing ceremony of the annual Lipstick Festival in Shanghai’s Putuo district, where free lipstick was given away to female medical workers, volunteers and customers. A Global League of Female Elite, which includes successful female entrepreneurs and businesswomen, was established to promote the “she economy”, the Shanghai Daily reports.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world