Two-child policy fuels the booming online baby-product business
As China has relaxed its family planning policy this year, allowing each family to have two children, the country's baby-product market has entered a new era of high growth.
Just how big a change can be expected? According to Chinese family planning authorities, the two-child policy will add an estimated 3 million babies annually for a total of 17.5 to 21 million newborns each year in the next five years.
Every 1-2 million additional newborn babies will bring business opportunities of 120 to 160 billion yuan. By 2018, the Chinese baby-product market is expected to reach 3 trillion yuan, with an estimated growth rate of 14.5 percent annually in the next three years, said Hou Enlong, Chief Operating Officer of Sunning’s online stores on Tuesday.
A new generation of Chinese consumers is now entering childbearing years. They not only prioritize their own preferences when it comes to buying products, they also pay more attention to branding.
"Since China’s post-90s consumers—those born after 1990—grew up with mobile devices, they prefer to buy baby products through e-commerce sites," said Pan Min, General Manager of Redbaby.
Online shopping platforms dedicated specifically to baby products will likely enter a golden age for development in the coming years.
Every 1-2 million additional newborn babies will bring business opportunities of 120 to 160 billion yuan. By 2018, the Chinese baby-product market is expected to reach 3 trillion yuan, with an estimated growth rate of 14.5 percent annually in the next three years, said Hou Enlong, Chief Operating Officer of Sunning’s online stores on Tuesday.
A new generation of Chinese consumers is now entering childbearing years. They not only prioritize their own preferences when it comes to buying products, they also pay more attention to branding.
"Since China’s post-90s consumers—those born after 1990—grew up with mobile devices, they prefer to buy baby products through e-commerce sites," said Pan Min, General Manager of Redbaby.
Online shopping platforms dedicated specifically to baby products will likely enter a golden age for development in the coming years.
