China single’s day (28 August) triggered off a range of commercial activities. Business analyst Shaun Rein looks on AFP at the industries focusing on this attractive target group. Women play a key role in consumer spending, he says.
AFP:
A range of businesses are targeting singles, including travel, dining, online video games, online video streaming, sports apparels and cosmetics, according to Shaun Rein, founder of China Market Research Group and author of the book The War for China’s Wallet…
The high-earning urban female population is a major economic player.
Online flower retailer Reflower says almost 80 per cent of weekly orders come from female customers, with more than half buying flowers to “comfort themselves”.
“Females who are single especially spend most of their paycheck. Males tend to save more because they want to buy a house later on,” Rein told AFP.
“It’s really being empowered by women, because they are the most optimistic consumers, they tend to have higher paying jobs than men, and they tend to spend more.”…
“In urban areas especially, parents are saying to their girls ‘don’t settle’. Only marry if you want to marry, only have kids if you want to have kids,” Rein said, adding that the phenomenon is signalling social progress.
“I view that as showing female empowerment… I think it’s a very healthy shift, showing more male-female gender equality than ever before.”
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
Are you looking for more stories by Shaun Rein? Do check out this list.
