China: Consumer Profile

October 2024

China’s consumer landscape in 2023 reflects evolving demographic, economic and social trends. This report examines shifts in population, household structures, income and expenditure patterns while highlighting changing lifestyles influenced by technology and environmental awareness. It provides insights into the strategies businesses must adopt to align with rising digital engagement, growing eco-consciousness and increased demand for personalised services as China moves towards 2040.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.


The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in China report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in China report answers:

  • How consumers in China are changing? 
  • What are key changes in China population, society and generational structure and how it is affecting businesses?
  • What is the household structure in China and how it is changing consumer landscape?
  • What are key income groups in China? What is the outlook for the future?
  • Where consumers are  spending the money in China? 
  • How is the consumer mindset in China changing?
  • In China, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in China?
Download Table of Contents
Scope
Key findings
Key drivers affecting consumers in China in 2023
How developments today shape the consumers of tomorrow
Scope
Today 2023: Generation X leads as the largest population
Today 2023: Population experiencing a slight decline and an emerging ageing trend
Today 2023: Rising obesity and cholesterol increasing as a health risk
Tomorrow 2040: Decline in birth rates, old-age dependency to reshape China’s demographics
Tomorrow 2040: Millennials to overtake Gen X by 2040
Urbanisation accelerates as Shanghai, Tianjin, and Beijing face great population shifts
Opportunities for growth
Case study: Ping An Health expands senior care services with smart concierges
Today 2023: Share of households without children steadily rising
Rising preference for smaller, single person households
Chinese consumers opt for smaller homes and smart features
Tomorrow 2040: Surge in single person households and digital connectivity
Households in China will be led by individuals aged 60+
Digital connectivity surges in Chinese households to fuel tech opportunities
Opportunities for growth
Case study: Country Garden’s smart living community projects
Today 2023: Stable economic growth with low inflation and a rising middle class
Low inflation sustained by modest growth in consumer prices
Millennials lead in financial optimism and investment in education
Tomorrow 2040: Shanghai to lead wealth growth with disposable income rising sharply
Digital natives and urban consumers lead wealth expansion by 2040
Shanghai dominates as top consumer market, while Shenzhen leads in growth rate
Opportunities for growth
Case study: JD.com expands immersive retail technologies
Key findings of consumer surveys
Millennials prioritise health, quality and eco-friendliness more than other generations
Chinese consumers less likely to buy fewer, higher quality products than global average
Chinese consumers increasingly prioritize environmental impact in daily choices
Chinese consumers show confidence in financial security
Job security and skills development remain top priorities for Chinese workforce
Opportunities for growth
Case study: Anta Sportswear’s carbon-neutral retail store
Key findings
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