'She economy' a driving force in Chinese market

April 06, 2021 |

Female consumers born after 1990 spend the most money on cosmetics, pets, personal interests, social contacts and health, according to a survey released today.

The female-targeted market, the so-called “she economy” — a term coined by China’s education ministry in 2007 — is expected to expand in China in the post-pandemic era.

Women younger than 30 years old are expected to become the primary consumer force, according to the survey jointly released by Putuo-based Global Harbor and Jade International, a Beijing consulting company.

They have a stronger reliance on cosmetics and spend about 20 minutes a day on average applying makeup.

China's emerging national brands have become increasingly popular among young females compared with major international brands. Female consumers in China's third- and fourth-tier cities are expected to represent the biggest potential market.

Young women, especially office workers in large cities like Shanghai, have become the biggest pet-market consumers.

More than half of the followers of cat-related social media accounts are women under 24 years old, and about a third are between 25 and 30. They spend most of their pet-related money on food, medical, services and toys.

Women are also willing to spend money on their personal interests, such as online movies, fitness, reading and online shopping. Younger females around the age of 20 are more interested in games, street culture, selfie photos, pop stars and erciyuan culture, a term referring to anime, manga and games.

In addition to entertainment, young women are also focusing on health. A new model of "punk health" — adding Chinese herbs into coffee and soda water — has become popular with this demographic.

Half of the nation's online consumers of health products are women below the age of 30.

The survey was released at the closing ceremony of the annual Lipstick Festival in Putuo, where free lipstick was given away to female medical workers, volunteers and customers. A Global League of Female Elite, which includes successful female entrepreneurs and businesswomen, was established to promote the “she economy.”

The monthlong festival at Global Harbor Mall, Shanghai's largest downtown shopping complex, included more than 10,000 free tubes of lipstick during various online and offline activities.

Launched in 2020, the festival aims to encourage women to live a colorful life and showcase their values, according to organizers.

Some female medical workers who fought the coronavirus pandemic last year in Wuhan, capital of central China’s Hubei Province, and women who contributed to China’s poverty alleviation campaign were the first to receive gifts at the mall.