Self-gifting, pet luxury boom as marriage rate drops

What happened China’s declining marriage rate is reshaping consumer behavior, with luxury brands adjusting strategies to tap into the rising “singles economy.” According to the Ministry of Civil Affairs, only 6.1 million couples married last year, down 20.5% from the previous year and the lowest figure since records began in 1980. This demographic shift, coupled with delayed first marriages and rising divorce rates, is accelerating a transformation in spending patterns — one that sees consumers prioritize self-reward and pet-related consumption over traditional family-driven expenditure. The Jing Take For luxury brands, the implications are profound. Historically, weddings and gift-giving traditions fueled sales of jewelry, watches, and high-end homeware. But with fewer marriages, luxury players are pivoting towards experiences, personal indulgence, and aspirational lifestyle spending. The rise of “self-gifting” is particularly evident among affluent young consumers who, rather than saving for marriage or children, are channeling disposable income into high-end fashion, beauty, and travel. This mirrors patterns seen in markets like Japan and South Korea, where lower birth rates have driven demand for premium experiences and single-lifestyle goods. The shift is also fueling China’s booming pet economy. Goldman Sachs predicts that by 2030, China will have nearly twice as many pets as children under four, with urban pet ownership surpassing 70 million. Pet-related luxury, from designer pet accessories to gourmet food, is emerging as a high-growth sector. Alibaba’s Taobao has reported a nearly 60% year-on-year surge in sales of Lunar New Year pet feasts, reflecting how younger consumers are redirecting traditional family-spending habits toward their “fur babies.” Singles market in China: How luxury is adapting As the number of marriages declines and single lifestyles become the norm, luxury brands must recalibrate their China strategies. High-end fashion houses are already leveraging celebrity endorsements and exclusive capsule collections targeted at independent spenders. Meanwhile, the rise of experiential luxury — whether through travel, fine dining, or wellness retreats — aligns with the growing desire for self-reward over familial obligations. With China’s population dynamics shifting, the luxury industry must recognize that the era of marriage-driven consumption is fading. The next wave of growth will come from those embracing singlehood as a lifestyle, and brands that pivot accordingly stand to gain the most. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

Self-gifting, pet luxury boom as marriage rate drops

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Published February 11, 2025

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Self-gifting, pet luxury boom as marriage rate drops