23-28-year-olds with independent incomes in Shanghai are increasing in both number and purchasing power, gradually realizing their potential as China's first consumption-oriented generation according to a joint report by CBNData and BoC Shanghai Branch published in October 2017.
At the same time, they make up the largest internet user demographic and have very developed mobile shopping habits. Their consumption revolves around health, quality of life, name brands, and imported goods. In addition, the report provides insight into the three trends of "upgrading" which are driving changes in the market: product personalization, category innovation, and marketing content.
With the entry of the post-90's generation into the workforce and the world at large, their purchasing power has increased rapidly in the past few years; the report suggests that some 60% of post-90's consumers have reached a point where their incomes balance out their consumption, and 19% are able to save money...
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