QuantaSing, China’s Leading Adult Learning Platform, Established Hong Kong Presence and Offers Insights on the Silver Economy
- The company recently launched a White Paper which delves into the current market and future potential of China’s silver economy.
- A rapidly rising demographic, private companies strategically targeting goods and services toward the silver economy are positioned for future success.
- QuantaSing’s first office outside mainland China is located in the Exchange Square in Hong Kong.
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Over the long term, China continues to be a growing economy. In conjunction with an increase in life expectancy and a decrease in fertility rates, its growth is leading to a significant demographic shift. The country is gradually evolving into what is often referred to as an “aging society”. This demographic transition is reflected in the changing shape of China’s population pyramid, which is moving from a traditional pyramid form to more of a pillar shape, with markedly different age distribution. A key aspect of this shift is the emergence of the ‘silver demographic’, a term used to describe individuals aged 45 and above, who are increasingly becoming a powerful force in the consumer market. However, the market for products and services specifically designed for this demographic is still in its early stages. This presents a substantial opportunity for investment and growth, given the potential size and influence of the silver demographic.
QuantaSing, recognized by Frost & Sullivan as China’s leading adult learning platform, has joined forces with China Insights Consultancy to delve into the current market conditions and future potential of China’s silver economy. On June 25th, the company released the inaugural co-branded research on this topic, entitled ‘White Paper on Unveiling Golden Opportunities in China’s Silver Economy, 2023’.
- “People” — The market size of the silver demographic consumption continues to expand, with high quality and high value becoming key drivers.
- “Product” — Huge spending potential from the silver demographic, highlights attractive market opportunities for products and services catering to this demographic.
- “Place” — The potential of the silver demographic on social media continues to be unleashed, with content e-commerce platforms increasingly playing a crucial role.
Access the full White Paper here: https://qr61.cn/oVZJLW/q8otzaZ
The White Paper collated QuantaSing’s rich understanding of the diverse needs of its customer base. The company has consistently driven the enhancement and refinement of interest learning services for middle-aged and elderly individuals by leveraging its extensive market insights and frontline experience. The company has creatively developed course content and service models, utilizing both online and offline methods, to help lifelong learners achieve their goals of self-improvement and life enrichment. High-quality service and operations have further led to sustained growth in user numbers and satisfaction. As of March 31, 2024, QuantaSing’s total number of registered users reached 121 million. In the third quarter of fiscal year 2024, the number of paying users saw a significant year-on-year increase of 48.4%, reaching approximately 500,000.
Simultaneous to the release of the White Paper, QuantaSing conducted the grand opening ceremony of its Hong Kong office in the Exchange Square, convening partners to discuss the research findings and seek opportunities.
Hong Kong has always been a highly regarded commercial hub, serving as a crucial bridge and window connecting mainland China with the rest of the world. QuantaSing’s new office is situated in a prime location renowned for its convenient transportation and vibrant international atmosphere. This area, close to investors and business leaders, is one of Hong Kong’s key financial and commercial centers. The Hong Kong office is also QuantaSing’s first office outside mainland China, marking a significant achievement in QuantaSing’s market expansion in Hong Kong, highlighting the group’s efficient progress in developing overseas markets.
QuantaSing aims to bring its advanced concepts and high-quality services to global users. Additionally, the company plans to learn and leverage insights from international markets to support the group’s development, further extending QuantaSing’s leadership in the industry and continuously building competitive advantages.
The opening of QuantaSing’s Hong Kong office and the release of the white paper mark a significant step forward. As China’s aging population continues to grow and the consumption potential of the elderly accelerates, market demand will inevitably shift towards healthier, more diverse, and higher-quality products and services. QuantaSing will continue to apply its extensive experience and cutting-edge innovation to drive industry growth, creating greater value for global users and investors through a combination of offering international perspective and local practice.