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Nike Shox Nz Mens White/Black/White Running Shoes V88954,Men's Shoe Nike Zoom Talaria Mid Flyknit 856957-200Nike Zoom Vomero 10 Mens Cool Grey/Black/Lagoon/White Running Shoes V46572,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Adidas Springblade Razor Womens Solar Blue/Tech Grey Metallic/Black Running Shoes V76184,Men's Football Cleat Nike Vapor Untouchable Pro 833385-111Adidas Adissage Womens Black/Bahia Pink Slippers V14174,. 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, Adidas Barricade 2015 Womens Ice Grey/Super Yellow/Night Metallic Tennis Shoes V59916,Men's Shoe NikeCourt Zoom Vapor 9.5 Tour 631458-011Nike Air Max 1 Womens Black/Gum Medium Brown Running Shoes V19680,.
Nike Air Max 90 Womens Brigade Blue/Metallic Armory Navy/Squadron Blue Running Shoes V41327,Men's shoes Nike Mercurial Superfly FG CR7 677927-404Nike Air Zoom Vomero 11 Womens Cool Grey/Black/Hyper Orange/Optical Yellow Running Shoes V46502,. 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 Free 5.0 V4 Womens Black/Cool Grey/Wolf Grey/Anthracite Running Shoes V15960,Men's Shoe NikeLab Air Max 1 Pinnacle 859554-003Nike Lunarglide 7 Womens Black/Copa/Hyper Orange/White Running Shoes V16487,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Nike Zoom Structure 18 Womens Lyon Blue/Black/Pink Pow/Clearwater Running Shoes V62596,Men's Training Shoe Nike Free Trainer 3.0 V4 749361-016Men's Nike Dual Fusion Trail 2 Racer Blue/Total Crimson/Black UK#N5-9498,, too, that, after 2023, Men's Nike Hyperlive Hyper Cobalt/Black/Beta Blue/Metallic Silver UK#N5-8883,Men's Shoe NikeLab Tiempo Vetta 840482-400Nike Kids Roshe Run Print Wolf Grey/University Gold/Electro Orange/Deep Royal Blue UK#N5-9460,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Women's Nike Air Max Muse Artisan Teal/White/Volt UK#N5-9400,Men's Training Shoe Nike Metcon 1 Amplify 725183-082Women's Nike Shox Superfly R4 Metallic Silver/Fuchsia Glow/Dark Grey/Vivid Purple UK#N5-9514,.
What, then, will be the features of this growing consumer market? A Men's Training Shoe Nike Metcon 1 704688-050 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, Mitchell & Ness Patch Snapback CP230,MEN'S TRAINING SHOE NIKE METCON 1 704688-606Creative Recreation Infant Kaplan Trainer CP508,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, adidas Originals Junior ZX Flux Tech Trainer CP575,Men's Training Shoe Nike Zoom Speed Trainer 3 804401-017Nike Junior Huarache GS Trainer CP652,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Converse Nursery Chuck Taylor All Star Ox Trainer CP731,Men's Training Shoe Nike Zoom Speed Trainer 3 804401-414Hype Skinny Jean CP862,, argues the report,Antony Morato Full Zip New Tape Hooded Top CP973,Nike Men's Shoe Air Force 1 Mid 07 315123-027Cuckoos Nest Towelling Gym Hooded Top CP1041,.
Nike Tech Fleece Windrunner Hooded Top CP1130,MenBrave Soul MJK Newbury Duffle Jacket CP1255,. 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. Ellesse Puffer Jacket CP1355,NIKE AIR MAX 1 ESSENTIAL White/Black-Gamma OrangeJack & Jones Hutch Zip Jacket CP1417,.
Crucially, UCLA Pattern Puffer Jacket CP1544,NIKE AIR HUARACHE Black/Fuchsia Flash/Game Royal/BronzineJack & Jones Brody Button Knit CP1826,, 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. EA7 Core Training Fleece Short CP2118,NIKE AIR MAX 90 PREMIUM Metallic Silver/Clearwater/Light Blue LCalvin Klein One Logo Tape Swim Short CP2296,.
Finally, Timberland 6 Inch Cupsole Boot CP3762,NIKE AIR MAX ZERO White/Rift Blue/Hyper Jade/Midnight NavyClear Weather The One-O-One Shoe CP3894,, 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, adidas Originals Powerphase Trainer CP3994,Nike Air Zoom Streak 5 Unisex Running Shoe (Men's Sizing) 641318-101adidas Originals Gazelle OG Trainer CP4065,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of adidas Originals ZX Flux Racer Asym Trainer CP4186,NIKE DUAL FUSION BALLISTEC ADVANTAGE Hyper Crimson/Dusty Cactus/White/Hyper CrimsonConverse Chuck Taylor All Star Ox Trainer CP4268,, 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, Cruyff Technico Trainer CP4408,NIKE FLYKNIT LUNAR 3 Black/Blue Lagoon/Ice Cube Blue/WhiteLacoste Marcel Trainer CP4509,.
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 Zoom Stefan Janoski Trainer CP4611,NIKE FREE 4.0 FLYKNIT Wolf Grey/Pink Pow/Total Orange/BlackNike Roshe One Knit Jacquard Trainer CP4704,, 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 Lunar Force 1 Duckboot CP4847,NIKE FREE SOCFLY White/White/WhitePuma Disc Blaze 'Bright Pack' Trainer CP4923,, 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. Vans 106 Vulcanised Trainer CP5063,NIKE FREE TR 5 White/Blue Lagoon/Clearwater/Metallic SilverMoon Boot Womens WE Quilted Boot CP5166,.