The world's most important consumer group

1 March 2017

If UK business could choose to capture the hearts of one global demographic, which one should it be?  The most populous?  The richest?  The one with most influence in purchasing decisions?

Right now there is one global consumer group which, arguably, should be grabbing our attention, and that group is – Chinese women of working age.

Consider, for instance, that in China:

• 58% of mums say they are the sole person managing their household's finances[1]
• women typically assume the role of CFO in most households and have the ultimate say for most purchases[2]
• single women are twice as likely as single men to want to travel and explore new places[3]
• 2/3 of cross-border shoppers on TMall Global are women[4]
• by 2020, those born since 1980 will consume more than those born earlier.  240 million women aged 20-40 will be the dominant and most influential demographic in China's massive consumer market[5]

If the implications for domestic companies are clear, they should be even more so for British companies wanting to engage with the Chinese market, because this demographic both directs household spending choices and is most open to the new – a multiplying effect. 

Some Western brands are seeking to engage with in creative ways with special subsets among Chinese women in the 20-40 age-bracket.  An interesting example I noticed recently is the international cosmetic brand SK-ii (owned by P&G).  In 2015 the Swedish agency Forsman & Bodenfors created a campaign for SK-ii based around the sensitive subject of what it feels like to be a Chinese single woman aged over 25 - sometimes labelled by their parents and others with the derogatory term "sheng nu" (剩女) or "leftover women".  Through a slick social media campaign (#changedestiny) and the discreet sponsorship of poignant 4-minute video documentary which also included an outdoor installation at a Chinese "marriage market", SK-ii  has positioned itself as the brave voice of one part of Chinese society – one which seeks to find expression and affirmation, and that also wields significant spending power.  Done badly, such a campaign could backfire badly, but the indications are  that SK-ii have pulled this one off well.

When working with UK businesses, at Chamber International we often explain how it's necessary  to rethink product, message and delivery in order to connect with new customers overseas – and China's women are no exception.  What makes them different is the potential value of this demographic to UK brands, making them quite possibly the most important consumer group in the world.