For a long time it has been a fantasy of Western brands that China would become consumption driven, with 1.3 billion people and as the analogy goes, 2.6 billion armpits requiring deodorant.
Currently, China’s consumer economy is approximately the same size as Italy’s, but within the next two years it is predicted to commence adding an Italy every year.
A recent McKinsey report titled ‘From Made in China to Sold in China’, estimated that over 700 million Chinese will be classified as consumer class by 2020, leading to annual consumer spending of $2.3 trillion a year.
This eBook looks in detail at the group that is at the forefront of the Chinese consumption revolution and predicted to be the most powerful consumer group in the world within the next 15-20 years, ‘Chinese yuppies’ or as they are affectionately known, ‘Chuppies’.
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