Table of Contents
Executive Summary
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- The market
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- Figure 1: GDP growth rate in China, 2010-15
- Figure 2: Urban unemployment rate in China, 2008-15
- The consumer
- Healthy financial status
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- Figure 3: Current financial situation, November 2015
- Ambitious Youngsters vs worrying mid-ages
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- Figure 4: Confidence about improving future status, November 2015
- Planning for big items, the employment rate and the performance of investment products matter most
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- Figure 5: Factors that affect spending confidence, November, 2015
- Eye catchy discretional categories
- Better control dominates consumer budgeting
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- Figure 6: The way of cutting expenditure, November, 2015
- What we think
Issues and Insights
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- Varying priorities across ages
- The facts
- The implications
- Young people to drive the consumption market growth
- The facts
- The implications
- Internet rephrases consumers’ spending habits
- The facts
- The implications
- Buying overseas
- The facts
- The implications
Economy Background
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- Downward GDP
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- Figure 7: GDP growth rate in China, 2010-15
- Shrinking exports
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- Figure 8: China exports in value, February, 2016
- A new engine to drive the economy
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- Figure 9: Annual total retail sales of consumer goods, February, 2016
- Strong job market
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- Figure 10: Urban unemployment rate in China, 2008-15
- Robust disposable income rising
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- Figure 11: Annual urban disposable income, February, 2016
The Consumer – What You Need to Know
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- Confident youngster vs worrying mid-ages
- Conservative gene rules the roost
- The need for self-indulgence is strong
Current Financial Status
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- Continuous improving of financial status
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- Figure 12: Current financial situation, November 2015
- Rising of the young generations
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- Figure 13: Current financial situation, by demographic, November 2015
- Education is the key
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- Figure 14: Current financial situation, by demographic, November 2015
Confidence in Future Prospects
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- Slight drop in confidence
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- Figure 15: Confidence about improving future status, November 2015
- Ambitious youngsters vs worrying mid-ages
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- Figure 16: Confidence about improving future status, by age group, November 2015
- The potential in low tier cities
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- Figure 17: Confidence about improving future status, by city tier, November 2015
Factors Affecting Spending Confidence
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- Steady and conservative consuming culture
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- Figure 18: Factors that affect spending confidence, November, 2015
- What do those in their 20s care about?
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- Figure 19: Factors that affect spending confidence, and have a great impact, by category, November, 2015
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- Figure 20: Factors that affect spending confidence, and have a great impact, by category, November, 2015
- Sophisticated consumer: eyes on everything
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- Figure 21: Factors that affect the spending confidence, and have a great impact, by confidence level, November, 2015
Changes in Spending
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- Discretionary categories
- Unwavering necessities
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- Figure 22: Changes in spending, November 2015
- The recreational cost is first to be cut
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- Figure 23: % of consumers spending less in different categories, November 2015
- More spending is still a trend
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- Figure 24: Repertoire of changes in spending, November, 2015
- Open wallets of young consumer and those living in tier one cities
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- Figure 25: Changes in spending, by spending more, November 2015
The Reason behind Changes in Spending
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- More frequent out-of-home recreational activities
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- Figure 26: The reasons behind the changes of spending, by increased amount/frequency, November, 2015
- Upgraded consumption for durable items and beauty category
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- Figure 27: The reasons behind the changes of spending, by upgraded consumption, November, 2015
Financial Management
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- Controlled spending in a smart way
- Promotion still rules
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- Figure 28: The way of cutting expenditure, November, 2015
- Potential for financial tools
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- Figure 29: Ways of cutting expenditure, by income group, November, 2015
Meet the Mintropolitans
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- More sensitive to the macro economy
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- Figure 30: Current financial status and future prospects, by consumer classification,
- Figure 31: Factors that affect spending confidence, by demographic, November 2015
- More spending on recreational categories
- Making smart savings
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- Figure 32: The way of cutting expenditure, by consumer classification, November 2015
Appendix – Methodology and Abbreviations
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- Methodology
- Mintropolitans
- Why Mintropolitans?
- Who are they?
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- Figure 33: Demographic profile of Mintropolitans vs Non-Mintropolitans, by gender, age and personal income
- Figure 34: Demographic profile of Mintropolitans vs Non-Mintropolitans, by marital status, city tier and education level
- Abbreviations
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