Meet The Chinese Consumer Of 2020 Overview
Meet the Chinese consumer of 2020 - McKinsey Quarterly - Retail & Consumer Goods - Sectors & Regions
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Meet the Chinese consumer of 2020
Evolving economic profiles will continue to be the most important trend shaping the market.
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China’s confident consumers
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What China’s five-year plan means for business Download PDF
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MARCH 2012 • Yuval Atsmon and Max Magni
Source: Retail Practice
In This Article
Exhibit 1: The share of Chinese households in each income level will shift dramatically by 2020.
Exhibit 2: The change in income distribution will vary across cities and may suggest new markets.
Exhibit 3: Discretionary spending is expected to grow considerably by
2020.
Succeeding in China’s online video market
Segmenting China’s digital consumers
Tapping China’s luxury-goods market
Most large consumer-facing companies realize that they will need China to power their growth in the next decade. But to keep pace, these companies will also need to understand the economic, societal, and demographic changes shaping the profiles of consumers and the way they spend. This is no easy task not only because of the fast pace of growth and subsequent changes in the Chinese way of life but also because of the vast economic and demographic differences across the country. These differences are set to become more marked, with significant implications for companies that fail to grasp them.
Since 2005, McKinsey has conducted annual consumer surveys in China, interviewing a total of more than 60,000 people in
upward of 60 cities.1 Our surveys have tracked the growth of incomes, shifting patterns of expenditure, rising expectations—
About the authors
Comments
sometimes in line with those of the respondents’ Western counterparts and sometimes not—and the development of many different consumer
ian.coleman@newellco.com
Log Out
Search
Home
Retail & Consumer Goods
Sectors & Regions
Added to E-mail Alerts
Create RSS Feed
Recommend (59)
Meet the Chinese consumer of 2020
Evolving economic profiles will continue to be the most important trend shaping the market.
Text Size
China’s confident consumers
What China’s five-year plan means for business Download PDF
Link to This
Share
MARCH 2012 • Yuval Atsmon and Max Magni
Source: Retail Practice
In This Article
Exhibit 1: The share of Chinese households in each income level will shift dramatically by 2020.
Exhibit 2: The change in income distribution will vary across cities and may suggest new markets.
Exhibit 3: Discretionary spending is expected to grow considerably by
2020.
Succeeding in China’s online video market
Segmenting China’s digital consumers
Tapping China’s luxury-goods market
Most large consumer-facing companies realize that they will need China to power their growth in the next decade. But to keep pace, these companies will also need to understand the economic, societal, and demographic changes shaping the profiles of consumers and the way they spend. This is no easy task not only because of the fast pace of growth and subsequent changes in the Chinese way of life but also because of the vast economic and demographic differences across the country. These differences are set to become more marked, with significant implications for companies that fail to grasp them.
Since 2005, McKinsey has conducted annual consumer surveys in China, interviewing a total of more than 60,000 people in
upward of 60 cities.1 Our surveys have tracked the growth of incomes, shifting patterns of expenditure, rising expectations—
About the authors
Comments
sometimes in line with those of the respondents’ Western counterparts and sometimes not—and the development of many different consumer