McKinsey – Consumer Report

“Over the past dozen years, we’ve been taking the pulse of the Chinese consumer through our annual and bi-annual surveys. In this relatively short span of time, we’ve witnessed dramatic changes in their behavior and attitudes towards what they buy and how they shop.

From being hyper-conscious about extracting the most value for their hard-earned renminbi just a dozen years ago, Chinese consumers today are earning much more money, and are spending that money on a wider variety of higher quality and pricier goods and, increasingly, on services.

But with wealth comes choices, and Chinese consumers have more choices than ever before. Understanding how Chinese consumers make the critical decisions that impact what they buy — and what they don’t — is a critical skill that any company in China needs to master if they hope to succeed in this hotly contested market…”

Please read the whole report: Double Clicking on the Chinese Consumer