Innovative brands that recognize the cultural shift to singledom as a lifestyle choice will find opportunities.
66% of single people aged 18 -34 in China profess to love being single, with 41% saying they would prefer to be single than attached.
According to ‘The Single Age’ the latest report from Wunderman Thompson (WT) Intelligence, 78% say they are single by choice and 91% say it gives them more freedom.
Meanwhile, in the US, around 64% of those aged 18-34 - and in the UK, around 60% - profess to loving being single.
The report further states that in Asia, the average age of marriage has risen to 26 in China, 30 in Hong Kong and Japan, 29 in Singapore and 31 in Taiwan, according to government statistics.
Furthermore, 40% of singles in China say they like to spend their spare cash on treating themselves - compared to 36% of people in committed relationships.
Finally, 78% of China singles and 76% of China respondents in a relationship say that it’s becoming more acceptable to be single in today’s society.
Chen May Yee, APAC director of WT Intelligence said: “Being single has gone from being a lack of choice to a choice in itself. This group is increasingly empowered, affluent and are staying single for the freedom to live on their own terms. They are flexing their economic muscle in various ways.
"Singles are fueling the growth of solo travel, solo dining and the pet economy. Brands that continue to push the outdated image of single people as somehow lacking do so at their peril. Welcome to the Single Age.”