By Peggi Li

There are many things to celebrate in the Month of March, International Women’s Day is a significant date to celebrate the growth of feminism. This then translates to the evolution of female spending power, in China, there is a movement called “She Economy”. So what does this mean to the HORECA industry? 

With women being an ascendant force in China’s consumer market — accounting for over 70 percent of household purchases in China, including luxury goods, consumer products, and online shopping, according to Alibaba’s Digital B2B Outlook 2023 — brands have a golden opportunity to tap this burgeoning demographic. The emerging “she economy” trends, such as increasing premiumization and the rise of functional foods, and learn to better co-brand and market to the target demographic.

China’s “She Economy” is driven by finally independent young women with the capability of a good level of disposable income and a self-love style of spending to enrich their own happiness, mainly Millennials and Gen-Z. 

The drive propels the emergence of female-centric businesses that cater to women’s preferences and needs. China makes up the world’s third-largest consumer market for women, equivalent to the combined retail market of Germany, France, and the UK, reported by South Morning China Post. 

With such consumption and appetite to spend as now China’s doors have re-open, female travellers will be a formidable sector within the Chinese travellers’ segment. Eco-friendly, health & well-being resorts are popular, and cookery courses and wine courses are among the popular attractions. These then fuel the purchase of glassware, cookware, wine, and gourmet ingredients. With proven evidence in the China wine industry, She Economy has further fuelled the sales of red wine in China. 

This section will only continue to grow…. Gender Equality is not only a slogan but an economy with thriving potential.