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“She economy” experiences rapid development, fosters new growth point for China

(People's Daily Online)    17:29, March 27, 2019

(Photo/Chinanews.com)

The “she economy” is growing rapidly in China, creating new potential in the women-targeted market.

A report issued by Chinese e-commerce giant JD.com this month indicated that luxury brands such as Gucci, Estée Lauder, Yves Saint Laurent, and Lancôme have become a priority for female Chinese consumers.

Lipstick sales from the above brands saw year-on-year growth of 250 percent last year.

More data released by T-mall, an e-commerce platform under Alibaba, showed that 350,000 female consumers bought at least 12 handbags, while over 3 million purchased more than five tubes of lipstick in a single year.

The study suggests that women are the decision makers when it comes to food in most Chinese families, and this phenomenon is especially prevalent in developed areas such as Beijing, Shanghai, Guangzhou and the Yangtze River Delta, as women in these areas are more educated and independent.

A recent survey on female Chinese consumers showed that nearly 70 percent of Chinese women in cities were employed, and economic independence has resulted in more substantial female consumption power.

Apart from buying clothes, jewelry and cosmetics, over half of the women surveyed said they were willing to invest in education. Over 60 percent of surveyed Chinese women said they read E-books and paid for information services.

Statistics indicated that China is home to over 500 million female consumers, and this group is expected to generate a market of over 10 trillion yuan, becoming a sustained growth point of consumption. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Bianji, Hongyu)

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