Economics
Australian Sex Pills Are a Sign of China’s Consumer Shift
- Aussie dollar swayed by China-driven demand for commodities
- China’s shift to consumerism is also playing out in Australia
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On the edge of Sydney’s Chinatown, a new store has almost sold out of its most popular product: “Kangaroo Power” pills that claim to boost one’s libido. A sister branch 10 minutes walk away has just one pack left.
The stores are owned by AUMake International Ltd., part of the booming industry that connects local suppliers with Chinese shoppers and tourists. The company’s stock is trading at almost nine times the offer price when it sold shares on Australia’s stock exchange two months ago and it plans to open another downtown store in the new year.