Capture Female Clients,You Win in China
A decade ago, a new word “She-conomy” emerged in an official report of the Ministry of Education. She-conomy refers to the consumption and investment demand from the female consumers. Now She-conomy has become an everlasting topic and research subject for Chinese marketers from all industries.
1. Make more and spend more.
In China, the married woman play as the procurement manager in family. According to a research, 62% of family expenses were decided by women.
In addition single women have less financial pressure than men, so that explains the various kinds of promotional activities for women all over the year.
What is the scale of the market? In 2016, the gross of retail sales of consumption goods exceeded CNY 33 trillion. Should we refer to the aforesaid proportion of 62%, the market scale for female consumers shall be CNY 20.6 trillion.
2. What businesses will have new opportunities.
Traditionally, garments, shoes, hats, beauty cosmetics, and body care are the major attractions for female consumers, while following economic development and incremental increase of dispensable income, traveling, micro plastic injection, social communication, gourmet food, red wine, snacks, automobile, and fitness become the new driver for she-conomy, and at the same time cross-border e-commerce and fresh food e-commerce are also developing rapidly.
The pursuing of female consumers is not just restricted to the consumption of daily necessities, but to go after premium lifestyle, to make investment for themselves. You find the key for she-conomy when you grasp this point.
3. Portraits of fashionable Chinese female consumers
Besides the preceding picture, hereinafter are a few interesting numbers:
l 73.2% dine out at least once per week.
l 62.7% spend over CNY 5000 for tour.
l 71.7% have physical exercise at least once per week.
l 78.5% would like to spend more for premium quality goods.
l 78.2% will do online searches when they see appealing brands or products.
l 70.8% will collect information and make comparison before making buying decision
l 66.2% would love to shopping online.
l 65.5% watch movies online.
l 64.9% watch TV series online.
l 60.1% watch variety entertainment programs online.
l 61% will date males at restaurant.
l 45.8% will date males at cinema.
4. Two kinds of women are the main force for consumption market
According to a research conducted by Boston Consulting Group, two kinds of women are the main force for the consumption market. Category 1: 25-35 years old middle class with after-tax monthly income of CNY 12,000 or more. Category 2: young mothers.
The new generations of female would rather to spend more money for better life, and at the same time they prefer to do shopping online. When they become young mothers, expenses on housing interior, cooking, parents-child campaign, and parties will be substantially boosted. These two kinds of female have become the target of international brand.