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Chinese men make more purchases over the Internet than women: survey

By Sun Wenyu (People's Daily Online)    16:31, June 29, 2017
Chinese men make more purchases over the Internet than women: survey

The average annual online consumption of Chinese males per capita has reached RMB10,025, surpassing that of the females, according to a joint report issued by Boston Consultant Group (BCG) and AliResearch, an e-commerce research institute under Alibaba.

The report found that 73% of male consumers in first-tier cities believe that appearance is important in job hunting and dating, and 88% of them learn about beauty products and fashion on the Internet. In addition, 83% of the males aged 18 to 35 years old in first-tier cities consider it necessary to use skincare products.

With a single population approaching 200 million, customized products and services for singles in China is a major opportunity for merchants involved with mini karaoke, single-seat restaurants, small refrigerators, and even small apartments. The report said that China’s consumer market will hit $6.1 trillion in 2021, and market segmentation will continue to increase.

BCG and AliResearch pointed out in the report that China’s consumer economy is expanding at an annual rate of 10%, though the GDP growth has slowed. The report contributed the growing market to favorable macroeconomic conditions.

By 2021, China will add $1.8 trillion in new consumption. That is roughly the size of Germany’s consumer market today, and more than one-fourth of all consumption growth in major economies.

“Because of these factors, Chinese consumers in the aggregate are spending more, and they’re trading up to higher-quality products,” says Jeff Walters, a partner at BCG and coauthor of the report.

“Digital technology is one of the underlying drivers that will continue to spur purchases. The Chinese population is more connected than people in other countries, and by 2021, 90% of all purchases in China will involve digital at some point in the process of browsing, comparing prices, or making the actual purchase,” Walters added.

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