Women are said to be boosting the consumption market in China thanks to a rise in the ‘sheconomy’ – an influx of female consumers.
The country was geared up for more sales last Wednesday on International Women’s Day as women continue to drive the economy.
Indeed, it seems that cosmetic brands are getting in on the act, with Amazon.cn stating that the number of new cosmetic brands getting involved in promotions for International Women’s day doubled year on year, with international beauty providers also nearly doubling.
A report released by the company said, “With the upgrade of women’s spending power and consumption demand, women consumers are paying more attention to product quality and brands. The international brands hope to seize business opportunities in the sheconomy in China by offering products with good quality and reasonable price as well as excellent shopping and service experience.”
And with data released by Lvmama.com stating that the number of outbound Chinese tourists rose by 75 percent during 2016 festive period, with 70 percent of those being women, it seems that female consumers are indeed driving the market.