Shoppers rest outside a shopping mall on Russell Street at Hong Kong's Causeway Bay shopping district, June 17, 2014. (Photo : REUTERS)
A new survey showed that wives are spending more than their husbands even though they are earning less. In a majority of Chinese households, women are the ones in control of the budgeting.
According to a survey carried out by China's major online job fair 51job.com., women are the great spenders in Chinese families. Even though their salaries may be lower than their husbands', women are found to be the driving force of the Chinese economy, which means that their purchasing activities are stimulating the country's economic growth more.
The survey revealed that around 60 percent of Chinese families have women being in control of the daily family expenses. As a result, women spend more than their spouses.
Even in decisions such as buying a house where big money is required, 30 percent of women are found to have the dominant voice.
This particular trend makes companies target their marketing efforts on women. The term "sheconomy" is also born from this trend, which means women are becoming the main source of profits and sales for business enterprises. Not considering them in their marketing strategies and operational plans is simply economic suicide.
The survey showed that even though an increasing number of women are working, women still make sure they do not let go of their family duties.
Around 71 percent of career women make sure they are raising their children properly, while around 62 percent of them still make time to do household chores.
