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Nike Free 5.0 2015 Mens Black/White/White Running Shoes V37385,Men's Shoe Nike Zoom All Out Low 878670-800Nike Zoom Elite 8 Mens Black/Wolf Grey/Dark Grey/White Running Shoes V37753,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Adidas Eezay Dots Womens Halo Pink/Halo/Mineral Red Flip Flops V57555,Men's Shoe Nike Zoom LeBron Soldier 10 SFG 844378-416Adidas Pure Boost X Womens Shock Blue/Halo Blue/Shock Pink Running Shoes V74486,. 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 Adissage 2.0 Womens White/Shock Pink/White Slippers V94126,Men's Shoe Nike Zoom Kobe Icon 818583-001Adidas Gymbreaker Bounce Trainer Womens Black/Halo Pink Training Shoes V19923,.
Nike Air Max 1 Ultra Womens Black/Metallic Silver/White/Black Running Shoes V22584,Men's Shoe Nike Zoom LeBron Soldier 10 844374-001Nike Air Max 95 Womens Black/White/Anthracite/Metallic Hematite Running Shoes V32952,. 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 Classic Cortez Womens Black/Metallic Red Bronze/White Running Shoes V21981,Men's Shoe Nike Zoom Mercurial Flyknit 844626-002Nike Free 5.0 2015 Womens Black/Dark Grey/Dove Grey/White Running Shoes V17369,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Nike Lunaracer + 3 Womens Racer Blue/White/Voltage Green/Black Running Shoes V71941,Men's Shoe Nike Zoom Winflo 3 831561-003Nike Zoom Elite 8 Womens Black/Wolf Grey/Dark Grey/White Running Shoes V38073,, too, that, after 2023, Men's Nike Zoom Winflo Black/Volt/Dark Grey/Metallic Silver UK#N5-8723,Men's Shoe Nike Jordan Flow 833969-401Men's Nike Metcon 2 Ocean Fog/Dark Grey/Photo Blue/Black UK#N5-8864,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike Kids Mercurial Victory V CR IC Soccer Black/Total Crimson/White UK#N5-9598,Men's Shoe Nike Zoom Speed Trainer 3 804401-001Women's Nike Air Max Invigor Seaweed/White/Vivid Purple UK#N5-9066,.
What, then, will be the features of this growing consumer market? A Men's shoes Nike Mercurial Superfly FG CR7 677927-404 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, Women's Nike Flex Fury 2 Black/Hyper Pink/Anthracite/Metallic Hematite UK#N5-9611,Men's Track Shoe Nike Zoom Rival XC 749349-014Calvin Klein 1 Pack Linear Cotton Trunk CP405,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Infant Air Max 90 Mesh PS Trainer CP533,Men's Soccer Cleat Nike Hypervenom Phantom II Neymar FG 820117-061adidas Originals Junior Tubular Trainer CP579,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Junior Air Max 90 Leather Trainer CP677,Men's Training Shoe Nike Lunar Caldra 803879-414Nike Nursery Free Run 2 Trainer CP786,, argues the report,Jack & Jones Boxy Leed Loose Jeans Denim Jean CP888,Men's Training Shoe Nike Jordan Flight Flex Trainer 2 768911-005Creative Recreation Estrada Pique Hooded Top CP1008,.
Hype Side Zip Hooded Top CP1076,Men's Training Shoe Nike Metcon 2 819899-464adidas Originals Itasca Windbreaker CP1194,. 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. Carhartt Anchorage Parka Jacket CP1285,Men's Training Shoe Nike Metcon 2 Amplify 835438-404Ellesse Casimiro Jacket CP1365,.
Crucially, Native Youth Wool Overcoat CP1462,Nike Men's Shoe Air Force 1 Mid 07 315123-027Glorious Gangsta Cassello 7648 Denim Jean CP854,, 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. Alphalab Stealth Camouflage Jog Short CP2073,Nen's nike KOBE X 705317-308Nike Tech Fleece Short CP2174,.
Finally, Franklin & Marshall Crew Suit CP3608,NIKE AIR MAX 2015 Black/Clearwater/Fuchsia Flash/WhiteToms Classic Slip On Espadrille CP3808,, 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, Clarks Originals Trigenic Flex Shoe CP3893,NIKE AIR MAX 90 PREMIUM Light Blue Lacquer/Clearwateradidas Originals Gazelle '70s Trainer CP3993,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of adidas Originals Superstar 80s Metallic Trainer CP4124,NIKE AIR ZOOM ELITE 7 Blue Lagoon/Brigade Blue/Dark Obsidian/VoBjorn Borg X100 Low Rub Trainer CP4256,, 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, Creative Recreation Santos Trainor CP4347,NIKE AIR ZOOM PEGASUS 31 Hyper Orange/Volt/Bright Crimson/BlackFred Perry Umpire Suede Trainer CP4448,.
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. New Balance ML373 Trainer CP4559,NIKE DUNK ULTRA MODERN Pure Platinum/Wolf Grey/White/Pure PlatinNike Zoom Stefan Janoski Canvas Trainer CP4653,, 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 Flystepper 2K3 Trainer CP4746,NIKE FLYKNIT TRAINER CHUKKA SFB Blue Lagoon/Bright Crimson/Gym Red/BlackNike P Rod 8 Trainer CP4594,, 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. Ransom Valley Lite Trainer CP4973,Men's Shoe Nike Roshe Flyknit 677243-603Vans Old Skool Cork Twill Trainer CP5105,.