The "She Economy" is surging, and 80% of Tmall's top new brands focus on female consumption

In the past year, the number of women buying boxing gloves on Tmall has doubled, more than 70% of those who bought AJs were girls, and more than 80% of those who bought suits were girls. On the eve of Women's Day, Tmall released a "Her Power" report showing that women are not only the promoters of the new consumption wave, but also the creators of the "her economy".

2020 was a difficult year under the epidemic, but it became the year of the explosion of new brands. Perfect Diary and Pop Mart went public, and a number of new brands such as Santonban, Wang Baobao, and Naitangpai received financing. On Tmall Double 11, 360 new brands won the first place in their sub-industries. Among these shining new brands, many focus on female consumption.

"We found that 80% of Tmall's top new brands focus on female consumer demand," said Wu Feng, head of Tmall's new consumption department, who believes that female consumer brand entrepreneurship is entering a period of explosive growth. Tian Min, partner of Yuanjing Capital , found that " healthy beauty " has become a new mainstream choice for female consumption , which reflects the two " confidences " of Chinese women : aesthetic confidence and consumer confidence .

" Walking on the street now feels completely different from three years ago . Girls are more confident in putting on makeup and dressing up ," said Ci Ran, founder of the contact lens brand Moody . In the view of Yang Zifeng, founder of the makeup brand Hua Zhixiao , the new generation of Chinese women have their own aesthetics and control their own wallets, and are shifting from rigid consumption to more segmented consumption . " We are very fortunate to be able to create a new brand and grow with female consumers ."

Women are becoming active participants in this trend . Tmall's "Her Power" report shows that more and more female entrepreneurs are emerging. A comparative figure can give us a glimpse of this: less than 10% of the world's top 500 companies have female bosses, while among Tmall's new brands, female entrepreneurs account for 40%, and in industries such as clothing, the proportion is more than 50%, holding up half the sky.

"China is one of the most active regions in the world for female entrepreneurship. Both in terms of quantity and proportion, it is far ahead of major developed countries such as the United Kingdom and the United States," said Ding Jiachuan, managing partner of Boston Consulting Group. He believes that after the epidemic, there are more possibilities for women's consumption in the Chinese market. They pamper themselves, have more diverse needs, and have personalized propositions. These will become a distinctive new phenomenon.

Female founders understand women's needs and pain points better, and have a natural advantage when creating consumer brands for women. MissBerry, a fruit wine brand, opened a Tmall store in January 2020 and ranked first in the Tmall fruit wine category on Double 11 , and has received tens of millions of yuan in financing .

" The Internet and e-commerce have allowed us to break through the traditional growth path. It used to take 10 to 20 years to build a wine brand, opening offline stores and expanding channels before people could recognize the brand. But on Tmall, we can accurately reach our target consumers and create a brand through the fastest channel," said Tang Huimin, founder of MissBerry .

Female entrepreneurs not only account for a high proportion in industries such as apparel, beauty, and maternal and child care, but also account for an increasing proportion in traditionally male-dominated industries such as outdoor sports, digital games, and machinery manufacturing. Internet entrepreneurship is breaking gender boundaries.

Tian Min believes that developed Chinese manufacturing and leading e-commerce have lowered the threshold for entrepreneurship, allowing women to better participate in entrepreneurship, and an unprecedented group of female entrepreneurs have emerged. Female entrepreneurs can also better discover and meet the gaps in female consumer demand , forming a virtuous circle among the three .

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