Today, with the rapid development of China's economy, the role of women is becoming more diversified and more important. They are not just passengers. They gradually grow into sailors, sailors, pilots and Chief Engineers... With their participation, the giant ship of China's economy can stand on the tide and ride the wind and waves.
With the improvement of economic level and the awakening of self-consciousness, more and more modern women have an increasingly strong demand for improving the quality of life and become the main force of consumption in the new era.
Moreover, the increasing consumption power of women and the relevant adjustment of China's family structure may have a significant impact on the consumption growth pattern. They actively participate in more financial and economic activities and paint rich and wonderful colors for the portrait of Chinese women.
According to Accenture's data, there are nearly 400 million female consumers aged 20 ~ 60 in China, which controls the consumption expenditure of up to 10 trillion yuan every year, which is enough to constitute the third largest consumer market in the world, close to the sum of European, German, French and British retail markets.
is the face value and market value
The so-called "her economy" refers to the unique economic circle and economic phenomenon formed around women's consumption. UBS research department used regression analysis and combined with the logarithmic linear prediction model of female population proportion, GDP growth rate, single family and gender specific income growth in 14 countries to deconstruct the consumption growth in the next decade. It is expected that China's consumption in the world will reach the current level of the United States in 2030, It means that China's household consumption will increase by about $6 trillion in the next decade.
After the covid-19 epidemic, the consumption concept has also changed. Compared with "brand" and "price", we pay more attention to "health" and "easy to buy". This trend is expected to continue.
Interestingly, UBS believes that the proportion of educated young women is higher than that of men, which will have a small negative impact on consumption growth in the next decade (about - 5%), which may damage the traditional consumer goods industry, but it is conducive to investment.
In terms of age, among the consumers of "Post-70s" and "post-80s" families, women are the main decision-makers and implementers of family shopping. The diversified roles of women in the workplace, self, wife, mother and daughter determine the diversification of their consumer categories, including fresh food, clothing, shoes and hats, household products and so on.
There are countless companies involved in the concept of "her economy" in a shares.
According to the reporter, there are 132 A-share listed companies that only involve the concept of mother and child. Since the beginning of 2022, there are 52 companies whose share prices have increased, 38 companies whose share prices have increased by more than 5%, and 28 companies whose share prices have increased by more than 10%, accounting for 21.2%. In the CSI 300 index, only 56 companies have risen since the beginning of the year, and only 21 companies have increased by more than 10%, accounting for 7%.
Among them, the share price of Dalian My Gym Education Technology Co.Ltd(002621) ( Dalian My Gym Education Technology Co.Ltd(002621) . SZ) involving early childhood quality education rose 108.84% year to date, that of Kidswant Children Products Co.Ltd(301078) ( Kidswant Children Products Co.Ltd(301078) . SZ), an omnichannel service provider for mothers, infants and children, rose 63.44%, and that of Shanghai Aiyingshi Co.Ltd(603214) ( Shanghai Aiyingshi Co.Ltd(603214) . SH) rose 39.79%.
From the perspective of consumption direction, one of the noteworthy changes is that in addition to the mother and baby, the awakening of "her economy" is also one of the manifestations of women's pleasing others and themselves first. Therefore, the sales performance of commodities with the attribute of "pleasing oneself" is bright, and the performance of relevant listed companies is also considerable. Among them, one of the main tracks includes listed companies focusing on cosmetics and medical beauty.
Data show that the terminal scale of China's medical and American market is growing rapidly. From 77.6 billion yuan in 2016 to 143.6 billion yuan in 2019, with a compound growth rate of 22.7%, higher than the global scale growth rate. Among them, light medical beauty projects are more favored by consumers, with a scale growth of more than 20%.
According to Euromonitor's prediction, in 2025, the terminal consumption scale of light medicine and the United States is expected to be 2.57 times that of 2020. With the continuous progress of domestic manufacturers' technology, the trend of domestic substitution is significant.
At present, there are as many as 64 A-share listed companies involving medical beauty and 50 listed companies involving the concept of cosmetics. Among them, there are many listed companies with a market value of more than 50 billion yuan or even 100 billion yuan. For example, Imeik Technology Development Co.Ltd(300896) ( Imeik Technology Development Co.Ltd(300896) . SZ), founded in 2004, has realized the industrialization of sodium hyaluronate, polylactic acid filler series products and facial implant line, with a market value of 101.6 billion yuan; Bloomage Biotechnology Corporation Limited(688363) ( Bloomage Biotechnology Corporation Limited(688363) . SH), which originated in Shandong, is not only popular with consumers, but also has a market value of 50 billion yuan after the listing of the science and innovation board Huadong Medicine Co.Ltd(000963) , Lancy Co.Ltd(002612) , Shanghai Haohai Biological Technology Co.Ltd(688366) , Aoyuan Beauty Valley Technology Co.Ltd(000615) and many other companies have become hot companies for many times, and even "live" in the hot search list.
can spend money and manage money
From the conclusions of various data and reports, women not only assume the main consumption role in a family, but also an indispensable investment role. In other words, being able to spend and manage money has become one of the portraits of women today.
According to the discovery of women's fund investment recently released by lufax fund sales Co., Ltd. (hereinafter referred to as "lufax fund"), in the past 2021, the positive rate of return of women investors on the lufax fund platform was higher than that of men, and this phenomenon was more prominent when the market fluctuated violently.
In the first quarter of 2021, when the market style fluctuated violently, the monthly average positive rate of return of female investors reached 71.32%, much higher than 58.93% of male Jimin. However, from the perspective of yield level, male Jimin is slightly better.
In the field of non monetary funds in 2021, the proportion of male and female investors participating in fixed investment on the fund platform of lufax increased sharply, and the number of people participating in fixed investment accounted for more than 20%. Among them, the growth rate of women is faster. In 2021, the proportion of female investors participating in fixed investment increased by 15.15% and male investors increased by 10.68% over the previous year.
According to the data of Boston Consulting's 2021 Global Wealth Report, the total global investment in the hands of female investors increased from 31% in 2016 to 33% in 2020, which may reach 35% by 2025. Among them, the wealth accumulation of women in North America is the highest, and the wealth growth of women in Asia is the fastest.
In addition, the compound growth rate of women's investable wealth was 8.2%, much higher than that of men's 5.9% in the same period. Boston Consulting predicts that women's investable wealth will continue to grow faster than men until at least 2025.
In a 2022 study, the Bank of New York calculated that if women invest at the same rate as men, there may be more than $3.22 trillion of additional capital invested worldwide, of which more than $1.87 trillion will flow into more sustainable and influential investment fields.
"They are more interested in investment, more independent in consumer spending, and consumption is more biased towards themselves rather than families.
”This also supports the results of a wealth effect and housing intention survey conducted by UBS, that is, Chinese women have a stronger intention to buy insurance and real estate than men.
Marianna mamou, Chief Investment Office of UBS wealth management, said that since 2017, the number of women who want to be in control of their financial situation has been increasing. However, there is still a gap between women's confidence in wealth and their willingness to plan for life.
In her view, investments that are consistent with values and can have a positive social impact can enhance women's confidence. "Women are thoughtful and less emotional before investing. They generally trade less, have less chance to sell at market lows, and are more principled."
UBS expects the growth trend of women's income and higher allocation of investment to benefit the asset management and insurance industries. In the context of the growing proportion of single person families and the smaller family size, the increase in per capita expenditure is expected to support the long-term demand for luxury goods, health food, beer, real estate agents, pets and cars. More economically minded women's consumption, coupled with the "national trend", will also benefit domestic cosmetics and sportswear.
From a micro perspective, money management is only one of many management abilities. Women's management ability that can not be ignored can also be seen from the head company data of the secondary market.
The research results of Fidelity International show that the level of gender diversity in Chinese enterprises has shown a steady upward trend over the years. Among them, the proportion of women on the board of directors of Chinese enterprises has shown an upward trend in the past decade.
In China, female executives account for 32%. For example, in the middle and senior management of Citibank (China) Co., Ltd. (hereinafter referred to as "Citibank China"), the proportion of men and women is 50 / 50, which exceeds the global goal set by Citigroup (women account for 40%); Among the middle and senior talents recruited in the past year, the proportion of women has also exceeded 50%. Citigroup China recently promoted senior executives of several departments to managing directors (the highest level in the enterprise), of which 60% are female leaders.
It is true that the proportion of female executives in China is rising, but there is still a gap compared with the global average. According to the annual report on women on the board of directors issued by MSci (Mingsheng), the proportion of women directors in Chinese companies was 13.8% in 2021, which was 22.6% in MSCI global index companies and 14.5% in MSCI Emerging Market Index companies.
