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Experimental feature
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Womens Shoes Nike Air Pegasus '83 Fuchsia Force/Sail/Black/Light Magnet Grey,Womens Boots COACH Beverly Fatigue Calf SuedeWomens Shoes Nike Air Max Thea White/Pure Platinum/Bamboo/Wolf Grey,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Womens Shoes Nike Flex 2015 RUN Black/Pink Foil/Pink Glow/Bright Citrus,Womens Boots COACH Genie Saddle Burnish CalfWomens Shoes Nike MD Runner 2 Velvet Brown/Hot Lava/Velvet Brown,. 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, Womens Shoes Nike Zoom Fit Dark Grey/Vivd Purple/Hyper Orange,Womens Boots COACH Felicia Black SuedeWomens Shoes Nike Air Max Tailwind 8 Print Black/White/White,.

Womens Boots PATRIZIA Vigorous Black,Womens Sandals COACH Cottage Carmine Soft Vegan LeatherWomens Sandals PATRIZIA Gamma Pewter,. 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). Womens Sandals PATRIZIA Zanthos Beige,Womens Sandals COACH Marla Saddle/BlackUnisex Shoes PUMA Court Star NM Grey Violet,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Shoes PUMA Cell Riaze White/Clearwater/Italian Plum,Womens Sandals COACH Amel Black Rubber/Black Milk SigWomens Shoes PUMA Sport Fashion MCQ Move Femme Mid Black/Autumn Glory Yellow,, too, that, after 2023, Womens Shoes Reebok Sublite XT Cushion MT Alloy/Luminous Lime/White,Womens Sandals COACH Vitalia Rose Gold Matte Metallic Cross GrainWomens Boots Rocket Dog Lainy Brown Galaxy,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Shoes Rocket Dog Larissa Black Mirrorball,Womens Sandals COACH Caterine ChalkWomens Slippers Rocket Dog Barstow Black Icemaker,.

What, then, will be the features of this growing consumer market? A Womens Sandals COACH Jolene Black/Brown/Chalk delineates its main drivers and the challenges these are likely to create.

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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, Womens Boots Sam Edelman Joey Saddle Tan,Womens Sandals COACH Margharita Gunmetal Star MetallicWomens Sandals Sam Edelman Mae Moss Green Velour Suede Leather,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Sam Edelman Okala Black Brahma,Womens Sandals COACH Alyssa PetalWomens Shoes Sam Edelman Delilah Black Leather,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Saucony Propel Vista Black/Pink/Blue,Womens Sandals COACH May GoldWomens Shoes Superga 2750 Metcrocw Gold,, argues the report,Womens Shoes Supra Vaider Black/White/Print,Womens Sandals COACH Shelly Chalk Semi Matte CalfWomens Shoes Timberland Willow Trail Granite Grey,.

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Womens Boots UGG Soleil Black Suede/Leather,Womens Shoes COACH Amelia Cranberry ShearlingWomens Boots UGG Chancery Brown Twinface/Leather,. 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. Womens Boots UGG Classic Mini Serape Skyline Twinface,Womens Shoes COACH Smith Black SuedeWomens Shoes UGG Bridgen Black Leather,.

Crucially, Womens Slippers UGG Dreams Black Sequin Skulls,Womens Shoes COACH Lara Gunmetal StuddedWomens Boots Vaneli Kamelia Black Suede/Black Elastic,, 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. Womens Sandals Vaneli Taletha Natural Cork,Womens Shoes COACH Kelson Outline Khaki/Chestnut Sig/SuedeWomens Sandals Vaneli Nelda Roccia Vero Print,.

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Finally, Womens Shoes Vaneli Remy Cuoio Nubia Print,Womens Shoes COACH Chrissy Plum/PlumWomens Shoes Vaneli Ganesa Black Nappa/Black,, 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, Unisex Shoes Vans SK8-Hi Reissue (Premium Leather) True White,Womens Shoes COACH Smith Orange Wild Beast HaircalfNike Baseline Stock,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Nike Velocity,Womens Boots Cole Haan Lunargrand Chukka Sequoia Suede/Corporate OrangeTW Practice 2.0,, 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 Ultimate Flash,Womens Boots Cole Haan Russell Boot BlackMen's Chilcott Shorts,.

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. Women's Floral Skirt,Womens Boots Cole Haan Briarcliff Boot Extended Calf Chestnut LeatherMen's adistar 9-Inch Shorts,, 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 Element Half-Zip (Shamrock),Womens Boots Cole Haan Putnam Waterproof Boot Extended Calf Black SuedeVfB Stuttgart Replica Shorts,, 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. Nike Strike Three-Quarter Tech,Womens Boots Cole Haan Livingston Bootie Black LeatherNike Epic Block Fold-Over,.

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About this Special Report

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