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China's female consumer market last year exceeded 4.8 trillion yuan

(People's Daily Online) 13:24, April 19, 2021

The total amount of consumption last year by Chinese women stood at 4.8 trillion yuan ($730 billion). The growing consumption has not only expedited the transformation of consumer spending patterns in China, but has also stimulated an upgrade in the composition of that spending.

Customers select electronic products at a duty-free shop in Haikou, capital of South China’s Hainan province. (Photo/Xinhua)

Chinese women demonstrate strong purchasing power in the field of e-commerce, as they comprise 70 to 80 percent of all vertical e-business users. Moreover, consumers of cosmetics, food, parenting products, clothing, jewelry and healthcare products are also dominated by women.

According to big data compiled by China's online retailer JD.com, rankings of spending power in the eyes of investors from highest to lowest saw women on top, the elderly demographic next and men coming in last. In a bid to win over the hearts and minds of Chinese women, business owners from across the country have endeavored to do their best to cater to this growing consumer group’s demands.

Haidilao, the largest hotpot chain in China, started last year to provide its female customers with a kit for fixing up their makeup, comprised of a cleansing wipe, oil blotting paper and matchstick-shaped lipsticks. Furthermore, some of its chain stores have gone to great lengths to furnish themselves with deluxe dressing tables, with some even offering hair washing services.

In addition to Haidilao, the wine market that used to rely heavily on men has also rolled out new products to capture the interest of female consumers. Among them, RIO, a Chinese ready-to-drink alcopop beverage brand, has had great success by targeting a younger demographic of consumers, especially young women.

Meanwhile, driven by the increasing purchasing power of female consumers, emerging varieties of business models, including live streamed e-commerce and community-based e-commerce, have boomed over the past year, which in turn have also led to gradual changes in women's consumption preferences and behaviors.

Luo Ying, a tour guide in Tongren city in southwest China's Guizhou province, takes great pleasure in watching the live streamed e-commerce programming on China's e-commerce giant Taobao.

"I often provide touring services for tourists from Shanghai, as well as cities in Guangdong and other big cities, and I share the same hobbies with the girls from these first-tier cities," Luo said, adding that "Thanks to live streaming, I not only can buy things that are not available locally, but also know what products are favored by girls from the big cities and how they’re living their lives."

(Web editor: Hongyu, Liang Jun)

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