"Chinese Women Emerge as Major Consumers... Spending 1892 Trillion Annually"

Increased Consumption in Nutrition, Mental Health, and Services
Local Media: "Companies Need to Study Female Consumer Trends"

Chinese women have rapidly emerged as the main drivers of consumption recovery following the transition to With-Corona. In particular, in service sectors such as health, beauty, and counseling, where demand has increased since the COVID-19 outbreak subsided, the scale of consumption by women is significantly larger compared to men.

On the 26th, local media China Economic Net reported that approximately 400 million female consumers aged 20 to 60 in China spend about 10 trillion yuan (approximately 1892 trillion won) annually. Their annual consumption growth rate surpasses that of male consumers by 5.51 percentage points.

[Image source=EPA Yonhap News]

China Economic Net explained, "Services in the fields of nutrition, health care, beauty, and household services have shown rapid growth," adding, "The consumer goods market, such as clothing and accessories, is being upgraded due to increased spending by these women."

Interest in women's 'mental health' is also leading to increased spending. According to the report, last year, female consumers' expenditures on personal emotional management, workplace psychological counseling, and family-related psychological counseling surged by 17.5 times, 16.2 times, and 5.6 times respectively compared to the previous year.

The media emphasized, "Household consumption is still led by women, and their consumption decisions directly determine the quality of family life," while also noting, "At the same time, women are taking a more active role in sustainable consumption and lifestyles." Furthermore, it added, "Industries and companies need to study women's consumption behaviors and the underlying factors, focusing on the latest trends," and "It is necessary to stimulate consumption potential with better products, prices, and services."