China's "single economy" provides business opportunities
While a rising number of single peopleworry their Chinese parents, the demographic shift has become a businessopportunity for retailers and service providers.
Cui Sha, 33, works in a training agency inBeijing. Like many singles who live alone and have a large disposable incomeand willingness to spend, Cui has a unique requirement in choosing furnitureand home appliances -- they must be small in size.
To satisfy the need of solo consumers, homeappliance manufacturers have introduced smaller products ranging from ricecookers, ovens and kettles to refrigerators and washing machines.
On Alibaba's Tmall online marketplace, onestore has sold more than 3,000 mini-sized home appliances in just one month.
Food companies also want to take advantageof the single market. Haidilao, China's dominant hotpot chain, uses largecuddly toys to attract single diners.
According to Cao Yan, a customer manager ata Xi'an-based Haidilao outlet, her restaurant started providing toys such aslarge teddy bears to accompany solo diners two years ago.
"We pay more attention to solo dinersto make them feel less lonely and embarrassed as most diners come with friendsand family members," said Cao, who has seen a rising number of customerseating alone over the past 12 years.
Food delivery services have benefited fromthe trend too. The Financial Times said in a report last August that 65 percentof orders of Meituan-Dianping, a food delivery and restaurant review company,came from unmarried customers.
Travelling alone has also become a popularchoice of entertainment for singles who are well-educated, financiallyindependent and willing to improve their living quality.
Zhang Chen, 32, is single and spends around30,000 yuan (4,700 U.S. dollars) on tourism each year.
"The unattached lifestyle gives memore freedom. I don't need to work out complicated plans in advance and I canvisit wherever I want," Zhang said.
According to statistics from Chinese onlinetravel agency Ctrip, the number of passengers travelling alone has grown from8.3 percent in 2014 to 15 percent in 2016.
FuWeigang, executive president with SIFL Institute,cited a report from Southwest Securities that China had around 170 millionsingle adults of marriageable age in 2013.
The shift is driven by a trend of delayingor opting out of marriage entirely, a rising divorce rate, and a profoundchange in young people's perceptions of remaining single.
In a culture that places value on family,Chinese parents are often deeply involved in their children's marriage.
Xi'an singleton Li Wei, 28, will celebratethe upcoming Valentine's Day with her single friends to dodge family pressure."I'm not in a hurry to settle down until I meet my Mr. Right," shesaid.
Xia Xuemin, guest researcher with PublicPolicy Research Institute of Zhejiang University, said that a family consistingof two people needs one refrigerator, while a family with one person also needsone refrigerator." Therefore, singletons can better boostconsumption," he said.
However, some researchers are worried thatthe rising number of unmarried people may have a negative influence on theeconomy.
Fu argues that singletons who are rich tendto focus more on themselves and life quality, but those with low income may notbe willing to spend.
Yu Weihua, an economist with Xi'an JiaotongUniversity, said that an increasing number of single people meant a fallingbirth rate and a decreasing working population.
He suggests government issue moresupporting policies to encourage people to get married and have children.
Cui Sha enjoys most of her time livingalone in a tiny apartment. "Being single is nothing wrong. Nearly allgirls want to find the right person. But you can still enjoy yourself while youare waiting," she said.
XinhuaNet | Editor: Lifang | 2018-02-13
