The “she economy” in China is experiencing significant growth as more young, financially independent women spend money on themselves.
This trend is largely driven by millennials and Generation Z women, who are seeking happiness and self-fulfilment on their own terms, rather than traditional roles and expectations.
According to a report by Alibaba, Chinese women are responsible for more than 70 per cent of household purchases, including consumer goods, luxury goods and online shopping. This has led to the emergence of women-oriented businesses, such as e-commerce platforms that cater to women’s preferences and needs.
As a result of this shift in attitudes, China is now the world’s third largest female consumer market, after the United States and Japan. In fact, the size of the Chinese female consumer market is equivalent to the combined retail markets of Germany, France and the UK.
What are the notable trends in this significant market and how can companies be successful in this appealing market?
- Proliferation of medical beauty:
The significant growth of the medical aesthetics sector in China is largely attributed to the increasing demand for non-invasive and minimally invasive procedures, which are becoming increasingly popular among the younger generation.
- Premiumisation of everything:
Whereas in the past the focus was on finding affordable alternatives, consumers are now more interested in premium options.
- The food and supplement market:
Functional foods, designed to provide specific health benefits, are especially popular in the Chinese women’s food and supplement.
- “Women’s Day” in China:
International Women’s Day (8 March) is an important marketing event for e-commerce platforms, as it coincides with the launch of new spring products.
And how can we better connect with Chinese consumers? We highlight three ways:
- Create strong emotional connections with female
- Co-branding for maximum visibility
- Participate in ‘March 8th Festival’ campaigns on major e-commerce
Good luck!
Source: https://alarice.com.hk/
