“单身经济”助力消费增长

'Singles economy' to drive consumption, report says

The rising number of single people in China will spur new consumption and may become a major consumption power in the future, a recent report by Nielsen said.

The report came as concerted efforts were made to drive up domestic demand and boost consumption to support the post-COVID-19 economic recovery.

Nielsen released on Tuesday its Report on the Rising of China's Single Economy, which said as the number of single people continues to grow, their consumption power cannot be underestimated and will spur new consumption.

The report conducted an analysis of portraits and consumption behaviors of singles, with a goal to help brands and retailers better understand the Chinese consumption market and achieve precise marketing.

Justin Sargent, president of Nielsen China, said: "The 'single economy' is the awakening of single people's consumption awareness, which reflects their pursuit of a higher-quality life."