Nike Air Jordan 1 Phat Obsidian/Photo Blue-White Sneakers 3125682,
Nike Air Jordan 11 Retro Low Black/Royal Blue Sneakers 3125797,Nike Air Max Sequent 2 Men's BlackNike Air Jordan 11 Chicago Bulls Black Green Sneakers 3125840,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Nike Air Jordan 12 Black Khaki Sneakers 3125894,Nike Air Max 1 Ultra Flyknit Men's BlueNike Air Jordan 13 Glow-in-the-Dark Sole Carolina Blue-White Sneakers 3125968,. Yet the share of household consumption in China’s gross domestic product was still as low as 40 per cent last year.
Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Nike Air Jordan 3 Glow-in-the-Dark Sole White/True Blue Sneakers 3126042,Nike Air Max 2017 Men's GreyNike Air Jordan 4 Leopard Print Blue White Red Sneakers 3126146,.
Nike Air Jordan 4 UNC PE Black Blue Orange Sneakers 3126169,Nike Air Force 1 Ultraforce Mid Men's BlackNike Air Jordan 5 Retro Oreo Black/Cool Grey-White Sneakers 3126235,. The corresponding figures for the US are 13 per cent and 2 per cent. Thereafter their growth is forecast at 8 and 4 per cent respectively, in nominal terms (or 5 and 2 per cent in real terms). Nike Air Jordan 7 (VII) Retro Premio Bin 23 Sneakers 3126351,Nike Air Max Modern Men's GreenNike Air Jordan 9 Fontay Montana Sneakers 3126406,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Nike Air Jordan Spizike Wolf Grey Suede Sneakers 3126491,Nike Air Max 90 Ultra 2.0 Breathe Men's BlueNike Jordan Son of Mars Low White/Cement Sneakers 3126596,, too, that, after 2023, Nike Air Max 2011 Mens Black Blue Sneakers 3126940,Nike Air Max 90 Ultra 2.0 SE Men's GreyNike Air Max Mens Ocean Camouflage Sneakers 3127017,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike Air Max Mens Camouflage Blue White Sneakers 3127082,Nike Air Max 95 Ultra SE Men's GreyNike Air Max 90 PRM EM Mens Green And Black Casual Shoes 3127189,.
What, then, will be the features of this growing consumer market? A Nike Chapter 3 Mercurial Vortex III CR7 FG Men's Green delineates its main drivers and the challenges these are likely to create.
By 2027, 22 per cent of the Chinese population (324m people) will be over 60. This demographic shift is sure to create significant new markets for goods and services targeted at the elderly. Meanwhile, Nike Air Max 91 Mens Blue Black Sneakers 3127256,Nike Cortez Leather Men's GreyNike Air Max LTD 2 Mens All White Sneakers 3127350,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Air Trainer Max 1.3 Breathe Mens Gray White Sneakers 3127409,Nike Cortez Ultra Men's GreenNike Air Max 90 Unisex Red White Sneakers 3127526,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Air Max 90 Premium EM Unisex White Black Sneakers 3127573,Nike Floodlight Mercurial Victory VI FG Men's PurpleNike Air Presto 6 Mens Mesh Sneakers Gray Salmon Black 3127871,, argues the report,Nike Air Foamposite 1 White/Black Basketball Shoes 3128056,Nike Motion Blur Hypervenom Phelon III FG Men's BlueNike Hyperdunk XDR Black/Grey/Pink Basketball Shoes 3128133,.
Nike Kobe 8 System Rattlesnake Grey-Green Basketball Shoes 3128213,Nike Air Presto Ultra Flyknit Men's WhiteNike LeBron 11 Gator King Basketball Shoes 3128319,. Hema, for example, is a start-up, backed by the Alibaba Group. As I witnessed during a recent visit to Alibaba’s headquarters in Hangzhou, a Hema store is a mixture of supermarket, restaurant, distribution centre and online store. Nike Zoom Hyperfuse Low White/Blue Basketball Shoes 3128419,Nike Lunarcharge Essential Men's GreyNike Zoom Kobe 6(VI) Basketball Shoes Christmas Green/Black 3128538,.
Crucially, Nike Zoom Lebron 10(X) Carving Black/Pink/Orange Basketball Shoes 3128637,Nike Solay Flip Flops Men's BlueNike Blazer III Mens Gray Black Skateboarding Shoes 3128675,, all of them Chinese, seem likely to end up controlling the data created by this digitally-enabled, mass-consumer market. This can bring great benefits to consumers. But it will also create immense monopoly power. Nike Dunk High White Orange Mens Sneakers 3128813,Nike Blazer Low Men's BlackNike Free 3.0 V2 Mens Running Shoe Grey Orange Black 3128960,.
Finally, Nike Roshe Printing Mens Weave Bright Green Shoes 3129188,Nike Air Huarache Infant WhiteNike Flyknit Trainer Mesh Blue Black Mens Sneakers 3129526,, according to the World Bank. Urbanisation could rise to 70 per cent by 2027 and then to the over 80 per cent normal in the advanced economies, with most of the new inhabitants moving to Tier 2 and Tier 3 cities and inland, Nike Bomba Finale II Turf Soccer Shoes White Green Black 3129648,Nike Motion Blur Hypervenom Phade Children GreyNike CTR360 Trequartista III AG Shoes Mint Black Lime 3129727,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Nike Hypervenom Phelon Turf Soccer Cleats Gray Black Orange 3129851,Nike Free Run Infant GreyNike Mercurial Vapor IX FG Tropical Cleats Black White Flash Yellow Pink 3129953,, tackling China’s vast environmental challenges and strengthening the trust that a history of fakes and tainted products has damaged.
The plausible assumption, however, is that over the next decade a mass consumer society will emerge in China. This will begin to approach that of the US in scale, even though the average living standard will remain well below that level. Moreover, Nike Mercurial Vapor Superfly CR Exclusive Personal Cleats White Green Gold Black 3130056,Nike Air Force 1 Lo Infant WhiteNike Mercurial Vapor VIII FG Euro 2012 Soccer Cleats Red White 3130157,.
A vast middle class of people with an income affording more than the basic essentials of existence, will also emerge. These consumers will be not only be more demanding, but will seek goods and services that enrich their lives.
The great probability is that all of this will indeed happen. Nike Mercurial Veloce AG Shoes Black White Red 3130276,Nike Chapter 3 Mercurial Vortex III CR7 Turf Junior GreenNike T90 Laser IV FG All Black 3130389,, a collapse of the global economy, domestic political upheaval — comes in the way of continued progress.
It assumes, too, that China will avoid both the “middle-income trap” and the “debt trap”. Nike Tiempo Natural IV Leather TF Shoes Black Gold White 3130451,Nike Formula 23 Junior BlackBrando Brando 7402 Chelsea Boots Black Men BA79434,, albeit at a somewhat slower rate than before. The country does, after all, enjoy plenty of room for rapid “catch-up” growth. Bet on success. Brando Umberto Low -Top Sneakers Men SO81606,Nike Pegasus FlyKnit All Out Junior BlackFane Footwear Urban Men LP33145,.