Ahead of International Women’s Day on March 8, e-commerce platform Tmall has released its “She Power” 她力量 report. The paper highlights how women have promoted a new wave of consumption and developed the so-called ‘She Economy’. We’ve picked out some key findings from the report:
- 80% of Tmall’s top new brands in 2020 were focused on female consumer’s needs.
- The number of women buying boxing gloves on Tmall doubled in 2020.
- More than 70% of those who bought Air Jordans were women.
- Over 80% of those who bought suits were women.
The report also highlighted the increased confidence of women, as demonstrated by their purchasing choices. Tian Min, a partner of Yuanjing Capital, distinguished between women’s aesthetic self-confidence and consumer self-confidence, which have both shaped the ‘She Economy’.
Wu Feng, the head of Tmall’s new consumption, also asserted that female entrepreneurship is changing the consumer landscape. Female entrepreneurs accounted for 40% of Tmall’s new brands, and more than 50% of apparel brands on Tmall. This is representative of the Chinese market more generally which has a higher number of female entrepreneurs than the United Kingdom and the United States.