Cultural Observations
Interviewed By British Chamber of Commerce on Luxury Consumerism in China
The British Chamber of Commerce recently interviewed me on the topic of luxury consumerism in China for the Spring-Summer issue of their business publication, the ChamberEye. I follow an interview on China’s middle class consumers with Tom Doctoroff, CEO of JWT Greater China and author of Billions.
I have included selected responses below, but the [...]
The Relative Youth of China’s Wealthy
I came across this chart in The Wall Street Journal last week. It summarizes the results of HSBC’s “Affluent Asia Tracker.” According to the survey, the average age of the wealthiest 10% of investors in mainland China is 36, compared to an average age of 48 in Hong Kong.
This statistic reminded me of what McKinsey’s [...]
What are China’s luxury consumers buying? (Updated)
China’s consumer confidence has reached record levels this past quarter. According to a joint study conducted by China’s National Bureau of Statistics (NBS) and Nielsen, China’s consumer confidence in Q1 2010 has reached levels not seen since 2007 . I am often skeptical of the figures reported by NBS, however this does fit with the [...]
Consumer Market Observations: China’s Consumer Ambassadors & More
During a business trip to Shanghai last week, I was able to connect with several top China-consumer focused professionals to exchange perspectives on China’s retail landscape and consumer market. Here are a few key points from these conversations that I will discuss further in future postings.
“Consumer Behavior Ambassadors”: There seem to be two types of [...]
Aging Chinese Consumers and Their Post-80’s Children
“Marketers entering China will need to evaluate their portfolios very carefully. A mix of brands, targeted to different demographic groups, or those that work well in India or other less-developed nations may struggle in China. The one child policy – as well as other core changes in Chinese society – has radically altered the population [...]
The new, young Chinese consumer - Canvas8
“An increased standard of living has radically altered consumption habits of the mainstream Chinese urban consumer. Consumers who once focused on purchasing low-priced goods to meet basic needs have transformed their spending patterns. China is now home to the world’s second largest luxury goods market, the second largest diamond market and the number one automobile [...]
The Top 10 Consumer Trends Defining China’s Emerging Domestic Market
Richard Ho of Bain & Company wrote about the following consumer trends in AdAgeChina:
1. More middle-class shoppers in smaller cities
As incomes rise, consumers in lower-tier cities will continue to join the party and make classic middle-class purchases, beginning with electronics and durable goods and then better quality, fast-moving consumer goods (FMCGs) as the decade unfolds.
2. [...]
ReadWriteWeb.com | China’s Social Gaming Landscape
I recently wrote an article for ReadWriteWeb.com introducing the current state and future trajectory of Social Gaming in China. The article examines:
What makes a ‘winning’ Social Game in China?
Which Social Game developers in China should you know about?
What are the challenges facing Social Game developers in China?
How are Social Games likely to develop in the [...]
Luxury Consumer Culture in China: Inside Observer Interview (Part II)
Vinay Dixit is the Senior Director of Asia Consumer Centers in McKinsey & Company and leads theInsights China by McKinsey service line. He joined McKinsey’s Shanghai office in February 2008 and has led several significant studies on Chinese consumers. His most recent publications include, “The coming of age: China’s new class of wealthy consumers” and “One Country, Many [...]
Luxury Consumer Culture in China: Inside Observer Interview with McKinsey & Company’s Vinay Dixit
Vinay Dixit is the Senior Director of Asia Consumer Centers in McKinsey & Company and leads the Insights China by McKinsey service line. He joined McKinsey’s Shanghai office in February 2008 and has led several significant studies on Chinese consumers. His most recent publications include, “The coming of age: China’s new class of [...]
