Shoppers watch a skating competition outside a shopping mall in Beijing, Sunday, June 18, 2023. SINGAPORE: China is the world’s largest market and biggest prize for global brands, but there’s an important transition in the profile of its consumers that could make or break foreign companies trying to succeed in the country.unlike any other in the history of China . Along with that affluence and education have come shifts in tastes and approaches to consumption.
Their education empowers them with skills to evaluate products that offer more than just a good price point. Chinese youth are willing to invest in brands that align with their personal ethics. This generation, particularly its females, is leading China’s outbound tourism, travelling alone more often and to countries less explored by older generations. Our travel sentiment reports found that nearly six in 10 Chinese tourists in 2023 were female and more than half had bachelor’s degrees.She has a master’s but no job and lives on discount coupons. In China, there are many like hertheir products to fit the local culture.
Source: News Formal (newsformal.com)
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