China’s New Internet User: The Sheconomy
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Women account for 75% of all purchases of consumer goods in China. Most of all female billionaires worldwide are from China.
Since 2007, the term “sheconomy” has been used to describe the purchasing power of young wealthy Chinese women. The trend continues.
Independent and Confident Female Consumers
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Sheconomy surges as females show greater financial clout and independence.
The fast declining birth rate and delayed marriages also changed consumption trends for women in China.
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Gender equality has become a much discussed topic.
With more women becoming aware and outspoken about their rights, brands are facing the consequences of creating content deemed sexist or partnering with figures seen as controversial.
Demand for content satisfying the needs of female communities grows significantly.
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Consumer preferences are geared more towards personal characteristics and quality life.
High-quality, diversified and personalized products and services that meet their upgraded demands, please them and show their attitudes toward life have become their new pursuit.
They are spending more on beauty, fitness and hobbies, making the role of “sheconomy” in China’s consumer market increasingly significant.
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