Development in growing consumerism, urbanization and emerging industries will promote China's growth in the near future.
But there is still much room for growth in the future compared with Japan, the US, Western Europe and other developed economies, where high but slow-growing GDP and deeply-rooted consumerism leave little room for newcomers in the well-established fashion industry.
Singles Day focuses on development, green futureIn past years, the Singles Day shopping festival has been a celebration of consumerism, with eye-catching discounts, star-studded sales promotions and impressive revenue figures championing the power of spending.
Market insiders said that with the population's aging, people's need for high-end, personalized and precise treatment has increased, and the upgrading of medical consumerism has further promoted the market's expansion.
He said that the high growth comes from people's rising awareness of recycling and also overambitious consumerism, which makes people buy more than they really need.
Conscious consumerism is a global trend that's largely associated with mature markets.
Not anymore, thanks to the advent of the Nov 11 Singles Day online shopping festival, and the culture of creative consumerism it has spawned, market insiders said.