三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Consumers in lower-tier cities driving consumption demand

By He Wei in Shanghai | China Daily | Updated: 2019-04-11 09:11
Share
Share - WeChat
A saleswoman arranges imported snacks at a duty-free store in Qingdao, Shandong province. [Photo/Xinhua]

China's massiveness and complexity mean that the term "Chinese consumer" is insufficient by default. If you are ever familiar with the "silo" system categorizing different Chinese cities, people's tastes and spending power may vary, from tier-one to tier-four, categorically.

But as more multifaceted sets of consumer segments are revealed, one cannot be more wrong than simply assuming that people in Shanghai - China's most affluent city by GDP - are naturally generous spenders than those in, say, inland Central China's Henan province.

The truth is: The consumption locomotive has quietly shifted gear in the past few months. While big city residents could have more disposable incomes in absolute terms, it is their peers in lower-tier cities and townships that are willing to spend a premium for items, from avocados to sparkling water.

Welcome to China's consumption new norm, a trend featuring the rise of consumption power among smaller city residents, who are typically in their 20s to 30s, have received university education, and manage to get some level of Western exposure thanks to access to new technologies.

They now form the backbone powering Beijing's ambition to bolster consumption, facilitate the smooth transformation of economic engines, and maintain a sound pace of expansion.

A string of statistics has confirmed the telling tendencies. During February's Spring Festival, online shopping exhibited much stronger vibrancy in third and lower-tier cities across major platforms from Tmall to JD. Residents from smaller cities outperformed their cosmopolitan counterparts by the number of orders placed, the variety of products they chose and customer-per-spending for certain categories.

In the cosmetics segment, for instance, residents of smaller cities pumped 38 percent year-on-year of online spending on cosmetics last year, dwarfing just 16 percent recorded by their counterparts in major cities, according to consultancy Kantar Worldpanel.

People in this demographic aren't hesitant about becoming trendsetters: They have been fueling sales of avant-garde special-flavored mouth washes, customized electronic toothbrushes and liquid eye shadow.

Look further afield: travel agencies like Ctrip and Fliggy have noticed similar patterns. Outbound trips, a long-time rarity for township dwellers, have seen explosive growth in recent holiday peaks. Accompanying such an upward trend is the usage of mobile spending, where residents of smaller cities lead the pack, according to mobile wallet Alipay.

Therefore, China's consumer culture has by no means grounded to a halt, thanks to the group which, according to the National Bureau of Statistics, is comprised of 220 million people aged between 20 and 35. There seem to be several factors contributing to their emergence.

A foremost driver is a more relaxed hukou policy, the decadeslong household registration system determining people's social welfare. More flexible reforms introduced over the years mean easier access to the social security system in lower-tier cities, reducing the need for precautionary savings, and increasing their attractiveness to migrant workers.

And the lower living costs have given rise to higher fertility rates in these regions. The upshot, according to Morgan Stanley's estimates, is that smaller cities could account for 76 percent of overall urban population growth by 2030. That spells huge spending power in the long run.

Also sparking consumption is the nation's enhanced infrastructure connectivity across cities, which cuts travel time on major routes by at least half, and could in turn encourage industrial relocation from big cities to smaller ones. Meanwhile residents of smaller cities also benefit from relatively lower housing costs, which can effectively unleash consumption potential on more discretionary items.

With no signs of abatement, consumption is set to continue upgrading in terms of scale and quality, and this is good news for both the country to keep the economy on track and businesses seeking to cash in on the world's largest consumer market.

I am no expert on giving investment advice, but for global companies, it would not hurt to watch out for opportunities in providing quality food and beverages, entertainment offerings, and outbound travel featuring immersive local experiences.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 亚洲人成网站观看在线播放 | 国产精品一区二区av | 国产喷水吹潮视频在线播放 | 亚洲精品久久久久综合91 | 国产成人三级视频在线观看播放 | 亚洲国产精品自在现线让你爽 | 一级毛片真人不卡免费播 | 亚洲高清免费观看 | 小馒头刚发育在线播放free | 人超级碰碰视频在线观看 | 国产亚洲人成在线影院 | 国产美腿丝袜福利视频在线观看 | 国产精品第3页 | 日韩a级大片 | 最新国产午夜精品视频成人 | 国产香蕉久久 | 天天鲁天天玩天天爽天天 | 久久本道久久综合伊人 | 青青青国产色视频在线观看 | 日韩中文字幕免费版 | 亚洲色图婷婷 | 黄色片网战 | 欧美高清视频www夜色资源网 | 麻豆网址 | 国产精品亚洲一区在线播放 | 久草在线观看首页 | 中文字幕一区二区三区免费看 | 草逼免费| 91四虎国自产在线播放线 | 1024在线观看免费播放 | 2019理论国产一级中字 | 午夜视频福利在线 | 9191精品国产免费不久久 | 久久电影精品久久99久久 | 国产高清好大好夹受不了了 | 真实国产乱子伦精品一区二区三区 | 永久免费看电视网站 | 草草影视在线观看 | 日韩毛片在线 | 一级特黄aa大片欧美 | 免费国产综合视频在线看 |