In the coming decade, China is expected to offer $5 trillion consumption growth opportunities to retailers. There are six major consumer groups in China shaping the country’s consumption scale. 1, China’s domestic travel increased by 3% in 2021. Traveling would account for 19% of household consumption by 2030. 2, There are fifteen plus urban clusters in China that account for 90% of GDP growth. 3, 80% of Chinese consumers are ready to pay more to brands offering ethically-sourced products. 4, Senior shoppers of China are anticipated to increase online consumption to 50% by 2030. 5, 15% of Chinese single households are changing the consumption landscape. 6, 40% of the digital native generation spontaneously buys products to increase the consumption scale.
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