1、CHINESE WOMEN IN 2030CONNECTING WITHFUTURE CONSUMERSINTRODUCTIONEXECUTIVE SUMMARY HOW IS THEIR WORLD CHANGING020610SUMMARY72IDENTITY IN 20301.SELF IDENTITY2.FRIENDSHIP3.LOVE4.FAMILY5.BEAUTY272832364044WORK IN 20301.WORK SUCCESS2.CAREER PATHSPLAY IN 20301.STATUS2.LEISURE TIME3.CONSUMPTIONCONTENTS4950
2、5459606468INTRODUCTIONAs China grows into the worlds Number 1 economy,Chinas women are on a surge.Millennial girls(born in the 80s and 90s)grew up during the boom years of double-digit growth in China as only children doted on by parents and grandparents.They laid the ground for a new model of femin
3、inity with their independent,confident-striving and outspoken style.Girls are outperforming boys in school,accounting for more than half of all undergraduates in China in 2015.This number might be even higher were it not for the affirmative practices implemented by many universities to let more boys
4、 in*1.They are major players in the economy:In 2017,61.5%of women participated in Chinas labor force,contributing some 41%to Chinas GDP,a higher percentage than in most other regions,including North America*2.Government data shows that women set up 55%of new internet companies in China and more than
5、 a quarter of all entrepreneurs are women*3.On the consumption side,they buy millions of articles on Taobao,Chinas leading e-commerce platform,and turned Alibabas Singles Day into the worlds most valuable day for retailers.Jack Ma,founder of Alibaba,speaking at the 2017 Global Conference on Women an
6、d Entrepreneurship,called women the secret sauce of Alibabas success,adding that he wished to become a woman in his next life*4.Over the last 30 years,a soaring economy and changes to the laws regarding education and employment have meant big changes to womens rights and status in China.But where ar
7、e Chinese women going next?Given their importance in the economy as both leaders and consumers,brands need to be able to anticipate the trends that will influence women.This study looks at where Chinas girls and young women today will be in 2030.Women are evolving as part of Chinas fast changing soc
8、iety,and brands need to better understand what motivates and drives them,in order to engage with them in a positive way.-03-02-CHINESE WOMEN IN 2030Specifically,this study looks at two female cohorts:I 18-28 years old todayII 6-17 years old todayThese are the Chinese women who are 18-40 years old in
9、 2030 From Tier1-3 cities From middle to high income levels (8,000RMB Monthly Household Income)SETTING THE CONTEXT Chinas population is expected to reach its peak in 2029,growing from the current 1.418 billion to 1.44 billion and then declining from 2030 onward.The male/female imbalance that has spr
10、ung from the one-child policy,resulting in some 30 million more men today,is expected to balance out by that point.Despite the relaxation of the one-child policy in 2016,its shadow extends into the future:over the next 10 years,the number of Chinese women aged 23-30 will decrease by 40%,a huge drop
11、in this child bearing age group*5.At current fertility rates(circa 1.5%)this means about 8 million births per year,although the government actively promotes births and might start to incentivise births via tax and education reforms.Fewer births and longer life spans mean a greying population;by 2027
12、,an estimated 100 million people will have joined the ranks of those over the age of 60,representing 22%of the population.This means an increased burden on working adults but also new consumption opportunities.METHODOLOGY This paper was developed based on the research conducted between September 201
13、8 and March 2019,which included Kantar Consultings proprietary consumer research Global MONITOR(A quantitative study conducted in over 20 countries,tracking changing consumers attitudes,values and behaviours on an annual basis),as well as existing trends,futures and generational studies and research
14、 reports.Additional insight was provided by secondary research,which included the review of existing intelligence and published international and Chinese sources.10 expert interviews were also conducted to add depth and nuance to the social trends explored,with an eye to identify early signals of ch
15、ange that point towards likely shifts in womens values,attitudes and behaviors.-04-05-EXECUTIVE SUMMARY CHINESE WOMEN IN 2030Delivering transformative solutions through media,content and technology for brands globally,Wavemaker was founded with the mission to Make the Future.Of course making the fut
16、ure in the short-term in China requires huge agility to keep on top of the very fast-changing consumer and marketing opportunities,and agility is a core value of Wavemaker.Against this dynamic,we chose to take a Year 2030 perspective in this whitepaper in the appreciation that brands that will stand
17、 the test of time need to build their capabilities to connect with Chinese consumers in the longer-term.We also chose to focus on Chinas women-they are on a surge as major players and key drivers of consumption in what is soon to be the worlds largest economy.With appreciation that consumption start
18、s at an ever younger age,we have identified how current schoolgirls 6-17 years old and current GenZ 18-28 years old,as future recruitment targets and retention targets respectively,will shift as consumers from now to 2030.It is worth noting at this point that whilst we can already observe early sign
19、als of the expected shifts amongst pockets of consumers in higher tier cities,our lens for viewing this future is based on a holistic viewpoint of mainstream affluent women across China.To arrive at this vision of the future,we have identified 12 key drivers of change in China between now and 2030,c
20、overing economic,environmental,political,social and technogical forces impacting on Chinese womens values,attitudes and behaviors in future across ten dimensions under the themes of identity,work and play.-07-06-Chinese women are moving away from juggling conflicting roles according to societal expe
21、ctations and are expected by 2030 to show a more consistent self-identity that capitalises on their individualism and purpose.With the rise of individualism and independence,Chinese women are also pursuing more meaning and purpose in their relationships.By 2030,women will be able to curate longer-te
22、rm and more global friendships according to common ideals,driven by the continued advance of big data,AI and virtual reality.Love,too,is moving towards a desire for true love,compared to what is currently in the mainstream more a focus on marriage based on good material foundations.At the same time,
23、technology is expected optimize more shorter-term on-demand needs,whether related to friendships,dating or indeed sex.Family,Chinese societys backbone for millennia,is undergoing seismic shifts and we expect the notion of the traditional family structure will not exist in the future.Further assisted
24、 with AI and the sharing economy to alleviate household chores and care,the current burdens placed upon the shoulders of the wife/mother in the family will be eliminated and replaced with family life focused on enjoyment in 2030.Accordingly,mothers will become more of a friend than authoritative fig
25、ure to their child as mother-child relationships will level.Externally,individuality is informing attitudes to beauty.By 2030,when appearances are easily modified thanks to technology and the digital-physical boundary is blurred,beauty is expected to be tailored to suit ones personality and diverse,
26、limited only by ones creativity.IDENTITY IN 2030A new sense of purpose will guide how women spend their time and money.Status will move away from current superficial signifiers like wealth and social-media popularity to status in 2030 being defined by sophisticated intangibles like education,wellbei
27、ng and connoisseurship,as well as ones positive impact on society.Leisure activities that combine individual passions and social causes will also be increasingly common.Facilitated by the growth of the sharing economy and algorithms,women will be more selective when choosing items they want to own.B
28、y 2030,whilst low-involvement categories will receive even less attention as predictive shopping services become the norm,high-involvement categories will become even higher involvement,focused on hyper-personalisation and the meaning and individuality products bring to the consumer.PLAYIN 2030To wi
29、n in the future,brands need to acknowledge these above shifts and better connect with women by accompanying them on this journey,and we hope our brand implications and what if ideas for each theme act as inspiration for your own thinking for this endeavor.Indeed as Wavemaker ourselves,we continue to
30、 push our own capabilities,expertise and people to continue to partner with the best brands to Make the Future.With their independence on the rise,Chinese women are already challenging the barriers of equal opportunities to their male counterparts in the workplace today.By 2030,women will achieve fi
31、nancial independence with womens leadership in business considered normal.In fact women are expected to progress ahead of men in the work place,with digital disruption and automation favoring new skill sets that are irreplaceable by automation e.g.empathy or creativity where women hold an advantage.
32、WORKIN 2030CHINESE WOMEN IN 2030-08-09-HOW IS THEIRWORLDCHANGINGDRIVERS OF CHANGEWe have identified 12 key drivers of change that will have great impact on the lives of women in 2030,shaping their future destinies in how they work,live and play:-10-POWERHOUSECHINAChina is moving towards equaling the
33、 US in both its economic power and military reach.By 2030 it will be the leading world power.It will also play a more visible role on the global stage and will continue to be a strong promoter of cross-border trade as it further integrates into the global economy.China will be home to the worlds lar
34、gest middle class and will reshape global consumption.Over the next decade,consumption will grow by an average 6%annually to reach RMB 56 trillion($8.2 trillion)*1 and this growth will be driven largely by women hence the role of women consumers will be even greater than it is today.Chinese brands w
35、ill continue to gain domestic recognition as well as grow their global influence.By 2030,Made-in-China will be on-par with,or even superior to international brands.Consumers will evolve from their relatively price-sensitive mindset to a more premium-seeking attitude,but distinctions between Chinese
36、and Western lifestyles will remain.The choices women will make as consumers will be of major impact on their families.2030:Long-term global GDP rankingsInternational vs Chinese brands scores on the BrandZ Brand Power metricNO.1 ECONOMY IN 2030 AND KEY CONNECTOR FOR GLOBAL TRADECHINESE BRANDS INCREAS
37、INGLY PREFERRED IN AND OUT OF CHINAInternational brands11520102016Chinese brandInternational brands100100Chinese brand892018203020.4USChinaJapanGermanyUKFranceIndiaChinaUSIndiaJapanGermanyUKFrance14.15.24.03.03.03.026.025.25.95.64.93.53.4GDP(USD trn)Source:*1 Future of consumption in fast-growth con
38、sumer markets:China,World Economic Forum,201801INCREASING GLOBAL EXPOSUREWith both international travel*2 and education on the rise (608,400 overseas students in 2017*3),young Chinese are increasingly exposed to the world.This is accompanied by overseas work experiences(Chinese green card holders in
39、 the US have doubled over the last decade*4),whereby many of those studying and working abroad eventually return to China,where opportunities abound.This increasing exposure to global culture may challenge existing Chinese gender norms and stereotypes,and in the near future,lead to a paradigm shift
40、in the way Chinese culture views women.608K81,77284%Chinese students studied abroad in 2017 vs 400K in 2012Chinese green card holders in the U.S.in 2016 vs 40,568 in 2003studying abroad returned to China in 2017 vs 10%in 2001GROWING CHINESE STUDY,WORK ABROAD AND RETURNINCREASING INTERNATIONAL TRAVEL
41、 WITH HIGH PREVALENCE OF WOMEN400 mil56%Overseas trips by Chinese travellers by 2030 vs 156 milin 2018of Chinese travelled overseas female in 2016 even though females only make up 48%of the populationincreasing 156%Source:*2 China Outbound Tourism Research Institute,2018&Marketing to China,2018*3 20
42、17 sees increase in number of Chinese students studying abroad and returning after overseas studies,Ministry of Education of the Peoples Republic of China,2018*4 Number of persons obtaining legal permanent resident status in the U.S.in 2016,by country of birth,Statista,2018CHINESE WOMEN IN 203002-12
43、-13-GROWTH OF URBAN LIVING In 2030,close to 70%of Chinas population will reside in urban areas,with more urbanization occurring in inland provinces and in tier 2 and 3 cities instead of in saturated coastal megacities*5.Advances in technology will enable and support this shift,ultimately resulting i
44、n better consumption and lifestyles.As early as 2020,50%of new residential buildings will comply with green building standards*6.Living arrangements are set to evolve too,with solo or communal living on the rise amongst younger generations*7,potentially transforming family structures.This will shift
45、 the traditional view of women as mothers.GROWTH OF URBAN POPULATIONHIGHLY CENTRALIZEDRISING OF SOLO LIVING68%80%will be urban in 2030 vs 58%in 2017GDP will be generated in 19 supercity clusters in 2030Estimated%of one-person households among total households in urban areas in China16%21%23%23%25%20
46、1020152020202520300%5%10%15%20%25%30%Source:*5 China in 2030:The Future Demographic,Euromonitor International,2018*6 A Review of Green Building Development in China from the Perspective of Energy Saving,Zhang et al.,Energies,2018*7 Living Alone in China:Projection of One-person Household,2010 to 205
47、0,W.Jean Yeung et al.,201603AGEINGPOPULATIONChina will move from a relatively younger to a relatively older and ageing population,with the median age rising from 37 in 2015*8 to 42 by 2030*9,life expectancy growing by 2 years*10 and a persistently low fertility rate at 1.66*11.Whilst the sheer numbe
48、r of elderly people(324 million)will pose challenges to economic growth,new needs of this demographic from healthcare to assisted living will also create economic opportunities.At the moment women still fulfill the major role in caring for the elderly.The outlook for Chinese women in 2030 will depen
49、d on how Chinese society responds to the economic and social challenges of an aging population.RISING MEDIAN AGE IN CHINAMedian age in China374220152030INCREASING LIFESPANSLife expectancy in China increasing76.520182030PERSISTENTLY LOW FERTILITY RATESAverage No.of children per female1.55 1.662018203
50、078.5yearsyearsyearsyearsSource:*8 World Population Prospects,United Nations,2015*9 China in 2030:The Future Demographic,Euromonitor International,2018*10 China overtakes U.S.for healthy lifespan:WHO data,Reuters,2018*11 World Population Prospects,United Nations,2015CHINESE WOMEN IN 203004-15-14-HEA