New trends in the female consumer market call for fresh ideas of investment and marketing as the "she economy" continues to show resilience during China's post-COVID economic recovery, according to discussions at a forum on Tuesday in Haikou, the capital city of south China's Hainan Province.

The forum on women's consumption is a session of the Global Consumption Forum which has been held alongside the China International Consumer Products Expo 2023, also known as "Hainan Expo." As the largest consumer product exhibition in the Asia-Pacific region, the expo has attracted over 3,300 well-known brands from 65 countries and regions this year.

Speakers from various fields and industries shared their observations on the rise in women's consumption in multiple sectors, such as jewelry, fashion, automobiles and health. 

"On the basis of self-love, self-reliance and self-improvement, women love themselves, their family and life," Professor Wan Zhe of the Beijing Normal University said at the forum while analyzing reasons underlying the new trends and rising spending power of women in China.

Spend more, buy better

Women have been spending more and buying better products as they receive longer years of education, earn more and marry later, according to a report jointly released at the forum by Southern Finance Omnimedia Corp (SFC), real estate consultancy Jones Lang LaSalle (JLL) and online shopping platform JD.com.

In terms of self-fulfillment, women pay attention to personal development and diversity in beauty, purchasing products and brands that align with their values, the report says, adding that they hardly sacrifice quality even when their incomes decrease in an economic downturn.

In 2022, the growth rate of female buyers' transaction volume on JD.com - one of China's largest online retailers - was 5.5 percent higher than that of male buyers, according to the report. 

Purchases concerning health and jewelry enjoyed the highest growth rates among female consumers on JD.com, whose favorite categories are pet care products, mother and baby care, and self-improvement.

As women age, the focus of spending tends to shift from personal fulfillment, becoming more family-oriented.

Over half of the brands in 395 shopping malls actively target female consumers, compared to only 2.8 percent for male consumers, according to a survey conducted by JLL in 21 cities across China.

New momentum

Since 2020, Hainan has introduced a series of policies to develop the jewelry industry, aiming to build the island into a regional center for importing and selling jade and diamond products.

Damien Cody, president of the International Colored Gemstone Association (ICA), said in a video message that ICA expects strong demand of gemstone products from Chinese consumers and is keen to work closely with government gemstone agencies and businesses in China on joint initiatives which might assist the streamlining of the import and promotion of colored gemstones.

In retailing, the integration of online and offline shopping has become a new trend, as online selling channels empower offline sales while the impact of COVID-19 pandemic ebbs.

In her speech at the forum, Janet Zhong, vice president of Tapestry & Coach Asia Pacific, said the integration could improve consumers' shopping experience as consumers are now able to buy a product online after experiencing it in a physical store. 

In terms of the role of Hainan Free Trade Port, participants of the forum agree that the island has the potential of becoming a global shopping center, providing an inclusive platform for both international and domestic brands to access China's large consumer market.