Suc­cess

Global Times US Edition - - BIZIN “I -

King,” Li once sold min­utes, ac­cord­ing grooming and coswas 31.1 bil­lion yuan llion yuan in 2017, for­ma­tion re­leased web­site chin­abao­gao. ore­cast to reached d the Chi­nese groomt nur­tures great eport by do­mes­tic on July 1. ng-based ty, said he spent 5,000 to 7,000 yuan an­nu­ally on grooming and cos­met­ics prod­ucts.

“I use toner, cream, essence and eye­cream and sun­screen in win­ter, but only toner and sun­screen in sum­mer,” he said.

Chi­nese peo­ple are ea­ger for a higher qual­ity of life thanks to the cur­rent em­pha­sis on pro­mot­ing higher-qual­ity con­sump­tion, which has changed spend­ing. The ris­ing grooming and cos­met­ics mar­ket and male spend­ing power shows that the “he econ­omy” is thriv­ing in the Chi­nese mar­ket and will con­tinue to do well in the near fu­ture, Chen said.

Big global brands are turn­ing their at­ten­tion to other lux­ury prod­ucts for male con­sumers in China.

In May, Ital­ian fash­ion house Fendi for the first time showed its men’s and women’s col­lec­tions to­gether in Shang­hai.

Prada also took its Spring/sum­mer 2020 men’s fash­ion show to Shang­hai in June. It was the first time Prada had staged its men’s show out­side of Mi­lan.

Lux­ury brands are more fre­quently show­cas­ing their prod­ucts for men in the Chi­nese mar­ket, in­dus­try in­sid­ers said. This in­di­cates an in­crease in at­ten­tion to the men’s mar­ket, as the range of prod­ucts they of­fer has con­tin­ued to ex­pand.

This in­cludes jew­elry, cars, wines and elec­tronic prod­ucts geared to­ward male con­sumers.

“We’ve seen so many more male cus­tomers this year, and al­most 60 per­cent of our daily rev­enue comes from them,” a sales­per­son at store sell­ing smart sports bracelet in Bei­jing’s af­flu­ent Chaoyang district told the Global Times.

Con­sumer an­a­lysts agree that with the rise of the post-90s gen­er­a­tion as a ma­jor source of con­sump­tion power in the coun­try, the devel­op­ment of the “he econ­omy” will see more rapid growth in the fu­ture.

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