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 [...]
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 [...]
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 [...]
(Part 2) McKinsey Annual Chinese Consumer Survey 08: Accelerating demand for premium products
This is part two in a four part series of post that breaks down the recently published 2008 McKinsey Annual Chinese Consumer Survey. Click here to read Part I, “Growing Importance of Regional Differencesâ€
Who is considered middle-class in China? McKinsey defines the mass market as families with monthly income levels below 5,000RMB per month, [...]
(Part I) McKinsey Annual Chinese Consumer Survey 08: Growing Importance of Regional Differences
The first part of the McKinsey survey looks at the Chinese consumer from a geographic standpoint. Traditionally the Chinese marketplace has been divided by cities, which were then classified into different tiers according to their level of relative economic importance. Examples of first tier cities are Beijing, Shanghai and Guangzhou. Examples of second tier cities [...]
McKinsey Annual Chinese Consumer Survey 08 - Preview
I recently came across the McKinsey Annual Chinese Consumer Survey 08 presentation on SlideShare. I will break down the forty-slide presentation into a series of four posts over the next few weeks.
The four topics that will be covered are:
1. The growing importance of regional differences in the Chinese marketplace
2. The accelerating demand for premium products
3. [...]
Chinese Consumer: Some Imported Cheese With Your Stinky Tofu?
Local favorites bridge the gap for lesser-known foreign products in China
“Have a taste, it’s just like stinky tofu!†the point of sale woman says to an unsuspecting fifty-something year old woman in the dairy aisle at Carrefour. The saleswoman was wearing a red and white pin-striped blouse with a bright red mini-skirt and a red [...]
Chinese Consumer: Making The Sale
Many of you have read the China Observer Blog’s Recent China News posted article from The McKinsey Quarterly entitled, “What’s new with the Chinese Consumer.â€
Let’s highlight the key findings from the report:
Due to rising concerns about product quality standards, Chinese consumers are less willing to try new products.
Chinese consumers often base their purchase decisions on [...]
