Chinese consumer : Understand new Chinese consumers, their purchasing power, lifestyle and demand

Abstract

The large population and the growing purchasing power of Chinese consumer have made China become an important market for many businesses, and to understand the needs and aspirations of China’s new and potential consumers is an essential for winning this market. However it can be a challenge as today’s Chinese consumers are so different, there has been the emergence of new interests and trends in consumption. After several decades of rapid economic growth, Chinese consumers are benefited with higher incomes and greater livelihoods, resulting in a changing lifestyle and different spending behaviours. Meanwhile, the widening income gap and uneven development brought different demands with different group of consumers. In order to give a realistic perspective about the new consumers in China, this thesis laid emphasis on the different lifestyle and consuming behaviour which reveal by different social categories. Sources from the latest news and the research data that focus on Chinese market and consumers were used to analyse the current situation and future trends of China’s society and its consumer market. This study also tried to indicate the reasons for the changes and give the solutions for the improvements. It intends to give some ideas to the readers who interested in what happened and the trends of Chinese consumer market.