7 Major Consumer Segments Shaping Chinese Market Landscape

August 24, 2021 By CIW Team China’s domestic consumer market has grown to a considerable size. However, there’s still much potential in it. China will offer a US$5 trillion consumption growth opportunity in the next decade, according to a latest research by the McKinsey Global Institute. Citizen’s incomes are increasing at a steady pace. China’s number of households with upper middle income and above (defined as households with annual incomes of US$22,000 or more in 2011 international dollars, on a purchasing power parity basis) is slightly lower than that of Europe’s. But in just 10 years, this number will grow to about 400 million, as many as Europe and the United States combined. But the increasing scale and rising incomes are not the full stories of the new chapter of China’s new consumer market. Chan... Already subscribed? Sign in. Don't Miss Out. Invest with as little as one bottle of water per week. Join other top analysts and business executives and navigate the unique market with China Internet Watch. View subscription options » Cancel at any time Filed Under: Consumer Products Tagged With: 7 days inn, apparel, ciw premium, Generation Z

7 Major Consumer Segments Shaping Chinese Market Landscape

China’s domestic consumer market has grown to a considerable size. However, there’s still much potential in it. China will offer a US$5 trillion consumption growth opportunity in the next decade, according to a latest research by the McKinsey Global Institute.

Citizen’s incomes are increasing at a steady pace. China’s number of households with upper middle income and above (defined as households with annual incomes of US$22,000 or more in 2011 international dollars, on a purchasing power parity basis) is slightly lower than that of Europe’s.

But in just 10 years, this number will grow to about 400 million, as many as Europe and the United States combined.

But the increasing scale and rising incomes are not the full stories of the new chapter of China’s new consumer market.

Chan...

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