10 Trends Shaping The Future of Chinese Consumer Demand
Chinese consumers have higher expectations than ever before: They are more digital than their Western counterparts, have rising incomes and are experiencing an explosion in retail and product options. Here are 10 trends that will shape Chinese consumer demand:
- A young and affluent population will fuel future consumption.
- Lower-tier cities will drive demand in future, and many shoppers in these areas buy in groups.
- The increasing obese population will grow the addressable plus-size apparel market.
- More shoppers will embrace “buy now, pay later.”
- The “lazy economy” is gaining traction.
- Men will be the new beauty consumer.
- Consumers are becoming more health conscious and going premium.
- Chinese consumers are traveling more for the experience than for shopping.
- Chinese shoppers are spending more on luxury domestically.
- Chinese consumers are influenced by online key opinion leaders (KOLs).