Chinese retailers are cashing in on International Women’s Day, offering coupons and discounts on sportswear, cosmetics and healthcare to get women to spend more, dubbing the day “Queens’ Day” and “Goddesses’ Day.”
Across the globe, women are hosting workshops, protests and dinner parties to celebrate the women’s rights movement and press for progress on gender equality.
However, in China, the day was dominated by sales campaigns from online retailers, a trend that has angered women’s rights activists who want to reclaim the day as an opportunity to make progress on issues like combating sexual harassment.
Photo: Reuters
One gym pushed memberships by saying “it only takes three months to become a queen,” while Alibaba Group Holding Ltd (阿里巴巴) encouraged shoppers to “give life to your women-power.”
The women-targeted market, or the so-called “she economy,” a term coined by the Chinese Ministry of Education in 2007, is expected to account for US$700 billion by next year, according to Guotai Junan Securities Co (國泰君安證券).
“If you look at how companies are thinking about their ad spending, how they think about product selection, probably they are thinking, 70 to 75 percent of our spending really needs to be targeted directly at women,” said Ben Cavender, Shanghai-based principal at China Market Research Group (中國市場研究).
Women spent 64 percent more last year than in 2015, with a majority of purchases made in major cities such as Beijing, Shanghai and Guangzhou, according to a report by Alibaba, which controls the largest share of retail e-commerce sales in China.
Purchases were more than cosmetics and shoes.
The number of women who bought running outfits rose more than 13 times in the last 12 months, while spending on boxing gloves by women soared 75 percent, a separate Alibaba report said.
Alibaba did not immediately respond to a request for comment on criticism by women’s rights activists on the focus on Women’s Day sales by retailers.
Despite women’s growing importance to China’s economy, they still lack equality of opportunity in business and politics, women’s rights activists said.
Chinese women earn 22 percent less than men per month, with the gap being wider in higher level positions, which are more often occupied by men, the Chinese jobs Web site Zhaopin.com (招聘) said in a report.
Only one-quarter of Chinese lawmakers are women.
“The mainstream of Chinese society has not talked about real women’s rights issues on International Women’s Day for a long time,” well-known feminist activist Xiao Meili (蕭美麗) said.
“They don’t even dare use the three words funujie (婦女節),” she said, referring to the original name of Women’s Day in China, which has connotations of working women.
“They always say ‘Queen’s Day’ or ‘Goddess Day’, as if this is the day when everyday women finally have the chance to be doted on. It’s just consumerist feminism,” Xiao added.
Instead of shopping, Chinese women should take action to combat sexual harassment as part of a Chinese MeToo-style movement, the Beijing-based Feminist Voices group, said on the popular Chinese social media app WeChat (微信).
Chinese students, professors and women’s rights activists have been calling for more to be done to stamp out sexual harassment on college campuses, after a viral public accusation of sexual harassment was made by a graduate of Beijing’s Beihang University against her former professor.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) secured a record 70.2 percent share of the global foundry business in the second quarter, up from 67.6 percent the previous quarter, and continued widening its lead over second-placed Samsung Electronics Co, TrendForce Corp (集邦科技) said on Monday. TSMC posted US$30.24 billion in sales in the April-to-June period, up 18.5 percent from the previous quarter, driven by major smartphone customers entering their ramp-up cycle and robust demand for artificial intelligence chips, laptops and PCs, which boosted wafer shipments and average selling prices, TrendForce said in a report. Samsung’s sales also grew in the second quarter, up
LIMITED IMPACT: Investor confidence was likely sustained by its relatively small exposure to the Chinese market, as only less advanced chips are made in Nanjing Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) saw its stock price close steady yesterday in a sign that the loss of the validated end user (VEU) status for its Nanjing, China, fab should have a mild impact on the world’s biggest contract chipmaker financially and technologically. Media reports about the waiver loss sent TSMC down 1.29 percent during the early trading session yesterday, but the stock soon regained strength and ended at NT$1,160, unchanged from Tuesday. Investors’ confidence in TSMC was likely built on its relatively small exposure to the Chinese market, as Chinese customers contributed about 9 percent to TSMC’s revenue last
Taiwan and Japan will kick off a series of cross border listings of exchange-traded funds (ETFs) this month, a milestone for the internationalization of the local ETF market, the Taiwan Stock Exchange (TWSE) said Wednesday. In a statement, the TWSE said the cross border ETF listings between Taiwan and Japan are expected to boost the local capital market’s visibility internationally and serve as a key for Taiwan becoming an asset management hub in the region. An ETF, a pooled investment security that is traded like an individual stock, can be tracked from the price of a single stock to a large and
Despite global geopolitical uncertainties and macroeconomic volatility, DBS Bank Taiwan (星展台灣) yesterday reported that its first-half revenue rose 10 percent year-on-year to a record NT$16.5 billion (US$537.8 million), while net profit surged 65 percent to an unprecedented NT$4.4 billion. The nation’s largest foreign bank made the announcement on the second anniversary of its integration with Citibank Taiwan Ltd’s (花旗台灣) consumer banking business. “Taiwan is a key market for DBS. Over the years, we have consistently demonstrated our commitment to deepening our presence in Taiwan, not only via continued investment to support franchise growth, but also through a series of bolt-on acquisitions,” DBS