Sales of mini products booming in China, where 90M live alone

蘋果日報 2021/06/13 06:58


People living alone in China are driving a market of products designed just for them — a customer base estimated to be in excess of 90 million.
Mini pots and ovens are commonplace, as are petite ice cream cones bundled into a pack of 10. These products are thriving as there is no lack of consumers who will look past the extra packaging and pay more to suit their needs.
In 2018, China had 240 million single adults, including 77 million who lived alone, figures from the Ministry of Civil Affairs showed. The number of adults living alone was estimated to rise to 92 million this year.
Almost 30% and 26% of young people in top-tier and second-tier cities were single, the Danke Apartment rental company found in a 2019 study. More than 51% of young tenants would like to live alone.
The demographic trends are translating into lucrative retail demand, with sales growing 585.8% in a year for electric pots that cater to the use of one person, and 427.7% for mini ovens.
Food for single-person consumption is also getting popular. A pack of rice just right for one meal sells for 9.90 yuan (US$1.55) at a Nanjing shopping mall.
Mini desserts are a hit among young single women trying to keep their weight down. A box of 10 small ice cream cones costs 13.50 yuan, while two cups of milk tea in a set is priced at 11 yuan.
Mass shopping events give a good gauge of prevailing consumer tastes. A brand sold 110 million yuan worth of hot-pot packs for one within 20 minutes at the Nov. 11, 2020, sale festival of the Tmall e-commerce platform. Tmall told mainland news outlets last year that food and drinks for one had increased 30% in sales within a year.
Clemson University economist Kevin Tsui told Apple Daily that Chinese people used to marry early, so the country did not have a market for single consumers, but such a market had emerged as many put marriage on the back burner.
Packaging for mini products would be more costly and less environmentally friendly compared with the traditional versions, but single people would be willing to pay for such costs due to their preferences, Tsui said.
The new market was not expected to bring revolutionary changes to the entire economy, as trends in mainland China tended to come and go quickly, Tsui said. Changes to the population structure were gradual instead of sudden, and it would reach an equilibrium eventually, he said.
Southeast University economist Pu Zhengning told mainland media that the new phenomenon was a response to not only the rise of single people, but also the influence of a healthy lifestyle that called for people to manage their food intake.
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