The rise and rise of China’s ‘middle women’

Manyue is a fan of jewelry. Her latest purchase was a sword-shaped pendant with a layer of turquoise enamel on its blade at a bazaar in suburban Beijing. “The sword is of special meaning to me as it gives me power, though fictitious, because wearing it makes me feel like Lady Justice who holds a sword in one hand and scales in the other,” she says. Visiting marketplaces where independent artisans sell handmade jewelry has become one of her favorite pastimes in recent years. “It’s a departure from my past shopping habits,” she says. “In my 20s, I was ardent about signature products of fine jewelry brands like Cartier and Bulgari.” A law graduate working in the media industry, 37-year-old Manyue is a typical example of “middle women” — an emerging demographic in China amid the country’s decelerating economy and changing gender dynamics. This group comprises females who are in the middle stage of almost everything: They are navigating midlife, driven by their careers, struggling to balance work and family if they have one, and are financially well-off. Though their interests and needs vary widely, they share a refusal to be defined as “the second sex.” With this renewed perception of womanhood, one deviating from the conventional gendered ideals of women’s altruism and compassion, middle women are redefining China’s consumption landscape, as well-educated and financially independent urban women are among the highest spenders, particularly in the lifestyle, wellbeing, and luxury categories. They are subtly subverting China’s consumption status quo, which remains dominated by messages either catering to the male gaze or superficially criticizing gender stereotypes. For middle women, monotonous beauty standards such as the pale-skinned, slender, and youthful looks have long been obsolete. Instead, they appreciate beauty in its own right and value diverse personalities. Growing clout Globally, there are around 400 million Chinese women aged between 20 and 60, constituting the world’s third largest consumer market, according to statistics from Accenture. Among them, middle women are the core spending force. Their priorities are quality, authenticity and individuality, which has led to increased demand for well-crafted products with distinctive designs. For the upcoming Chinese New Year, Manyue plans to shop Laopu Gold, a domestic jewelry brand known for traditionally handcrafted goldware. “I like everything glittering and unique. Moreover, gold fits me better than platinum, enhancing my complexion,” says Manyue. This “old craft” purveyor is an outperformer in China’s stuttering luxury jewelry market, with its revenue increasing 148% YoY in H1 2024 and its share price surging 437% in December since its listing in Hong Kong in June last year. Data from the World Gold Council and China Gold News shows that women aged 36 to 55 make up 65% of gold jewelry consumers, with most of them making the purchase for themselves. As more middle women take leadership roles, they are also driving shifts toward sustainability, social responsibility, and ethical production. For instance, La Mer, a high-end skincare brand, launched an interactive mini program on its WeChat account that rewards customers with samples for using low-carbon transportation, in addition to commitments to cruelty-free cosmetics and carbon-neutral shipping. Other brands have recognized this trend and adjusted their marketing messaging, highlighting natural beauty, holistic health, and self-care. SK-II, the Japanese skincare brand that’s seen its revenue tumble in China, launched a “Meet Me Halfway” campaign, in which it publicized the real stories of five of its loyal customers to show various societal pressures faced by modern Chinese women and how they break the mold. Among the ongoing shifts in consumer behavior among middle women, a novel one is their embrace of “neo-Taoism,” or metaphysics. This phenomenon arose as a hedge against economic uncertainty in the post-pandemic era. For many women juggling life’s challenges, seeking consolation through services as tarot, divination, and astrology have become a balm for uncertain times. Around 160,000 posts have been added under the hashtag “metaphysics” on the Chinese lifestyle app Xiaohongshu within the past 90 days. The butterfly — a symbol of dreams in Taoism and freedom and beauty in ancient Chinese culture — is interpreted as auspicious by many. On Taobao, sales of gold jewelry featuring butterflies reached 200 million RMB ($27 million) in Q1 2024, up 45% YoY. This follows last year’s 8 billion RMB ($1.09 billion) in sales of crystal accessories, which are believed to aid in manifesting. Luxury brands are responding to this demand by embedding mystical elements in their products and marketing. For instance, Hermès invited a Taoist priest to attend the opening of its store in Nanjing last year. From South Korea, Japan to Singapore Similar trends are evident in Japan, South Korea and several Southeast Asian countries, where highly educated, tech-savvy, and affluent women in their midlife are leading luxury spending with a propensity for self-reward and experiential consumption. Arafo, a buzzword in Japan referring to women in their 40s, are mostly unmarried career women who are increasingly opting for high-priced products and services like spas. Meanwhile in South Korea, such women are turning from conspicuous luxury to bespoke products, in addition to experiential spending. Across Asia, middle-aged women’s evolving roles are not just defining a new social paradigm but reshaping consumption preferences. They desire a smart form of beauty, one that values ingenuity, authenticity, and cultural association. Brands should not merely incorporate these changes in their product design and marketing, but truly acknowledge the nuanced evolution of Asian women’s identities to build genuine connections with them.

The rise and rise of China’s ‘middle women’

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Published January 07, 2025

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The rise and rise of China’s ‘middle women’