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. [...]
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 [...]
Creating New Consumer Markets in Emerging Markets – Part I
“We’ve been in China since 1988. We’re only in about 14 categories. We lead all of them but one. But the spending per capita in China is only $3 a year on Procter & Gamble products. That compares to the United States, where we are in over 25 categories, and the per capita spending a [...]
Reaching the Chinese Consumer – Don’t Forget About TV
“Television – with its sound, color, movement, ability to “break through” clutter and forge a brand’s identity – is an indispensible tool in new, untamed markets. Despite the growth of mobile phone and Internet usage in the PRC, China is still a mass market…The thirty-second television commercial still rules, and contrary to conventional wisdom, it [...]
Female Consumer Culture in China | Iron Girls to Luxury Shoppers
I just read an old blog post on The China Beat Blog by Hongmei Li, entitled “From Iron Girls to Oriental Beauties.” Li does an excellent job of documenting the evolution of the perception of women in Chinese society from the post Mao era through the present day. Li writes, “During the three decades that [...]
Reverse Innovation: Made in China - For China
A few years back I remember hearing about Sara Bongiorni’s book entitled “A Year Without “Made in China”: One Family’s True Life Adventure in the Global Economy.” As the title implies, Bongiorni convinced her family to spend a year without purchasing any products with a “Made in China” stamp/label. But in reality it’s no longer [...]
Thank You China Law Blog
Special thank you to the China Law Blog for this recent post: “China Retail/I Heart Qingdao”
I am fascinated with China as a consumer market. It has 1.3 billion people and if one reaches just one percent of the market…..
Joel Backaler over at China Observer blog just came out with a post assessing McKinsey’s newest report on China’s consumer [...]
One Country, Many Markets – McKinsey’s Alternative Method of Analyzing Chinese Consumers
Back when I first started studying Chinese and traveling to China, my friends and colleagues thought I was crazy. While they were impressed that I was able to gain fluency in a language so different from English, but to them it just seemed more logical to study a “practical” language like Spanish or French. Around [...]
