China: Consumer Profile

June 2023

Ageing, urbanisation and generational shifts shape China's demographic landscape. The number of seniors is projected to witness a substantial increase by 2040 while life expectancy grows and birth rates remain at all-time lows. Being the largest generational cohort, millennials will notably shape consumer preferences. In addition, the entry of Generation Z into the job market will have profound implications for businesses.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in China report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in China report answers:

  • How consumers in China are changing? 
  • What are key changes in China population, society and generational structure and how it is affecting businesses?
  • What is the household structure in China and how it is changing consumer landscape?
  • What are key income groups in China? What is the outlook for the future?
  • Where consumers are  spending the money in China? 
  • How is the consumer mindset in China changing?
  • In China, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in China?
Download Table of Contents
Scope
Key drivers affecting consumers in China in 2022
How developments today shape the consumer of tomorrow
Key findings
Today 2022: Generation X mid-lifers constitute the largest population cohort in China
Effects of one-child policy continue to be felt today
Chinese consumers, especially Generation X and millennials, prefer new and branded goods
Tomorrow 2040: Longer life expectancy and low birth rates boost older cohort
Millennials to become the largest cohort in 2040; Generation X will be 61-75
Shenzhen to experience one of the fastest growth rates in senior population
Areas of opportunity
Case study: Shenzhen-Jiangmen high-speed railway construction is underway
Today 2022: Couples with children constitute majority of households in China
D emand for housing shows r ebounding e ffect a fter Chinese property m arket c risis
Smart home functionality more valued among Chinese than among global counterparts
Tomorrow 2040: Single-person households to rise exponentially
Older men will remain key household decision-makers
Growth of households with access to internet to offer opportunities for tech companies
Areas of opportunity
Case study: Palm Guixi app to connect singles for matchmaking events
Today 2022: The lowest income class remains dominant in China
Price growth in China remains slow compared to other major global economies
Millennials to increase spending the most, especially on travel and holidays
Tomorrow 2040: Social class E to remain prevalent and occupied by those aged 65+
Millennials to be prevalent in the top-income band in 2040
Shanghai and Beijing to remain China’s largest consumer markets
Areas of opportunity
Case study: IHG Hotels Group to develop first Vignette Collection hotel in Greater China
Key findings consumer survey
Younger Chinese generations have a more positive outlook about their finances
Chinese consumers embrace spending spree as pandemic restrictions ease
Strong work-life balance cited as the top priority among Chinese workers
New products have unique appeal to Chinese consumers
Increasingly more Chinese are worried about climate change
Areas of opportunity
Case study: Alibaba’s Tmall moves to promote sustainability through green labelling
Key findings
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