Changing Future - NEW CONSUMERS
tHE RISING NEW PURCHASING POWER
C consumption has been the leading driver of economic growth in China, 58.8% in 2017. It consists of more than 55% of China’s GDP compared to 33% ten years ago and will be more than 70%in the next ten years.
China has 1.4 billion population and has the largest mid-class and new consumer population born after 1995. The rising new purchasing power has been spearhead by a new breed of consumer – one that is digitally empowered, richer, and more sophisticated than ever
More importantly, The succeed new consumers model in China will be the leader in consumer renovation and spread around the world.
Understand and identify the leading trends in New Consumers Model in China will place us in a strong investment position!
New Industry, New Brand, New population!
Top 10 New Consumer Sectors
Suger Free Meal
Han Chinese costume
China is now the largest mobile payment market, about 3.2 times of US market and 3.8 times of other leading countries.
New Income sources and payment options translate into new purchasing power of ￥308 billion in 2017.
In 2017, Online shopping in China generated about $851 billion and was about 2.2 times size of US market. In 2019, total online shopping increased to $1.64 trillion at annual growth of 16%.
Online shopper in China has increased from 460 million in 2017 to 710 million in 2020.