31% of Millennials in a KPMG survey expect a significant increase in their income over the next five years compared to just 18 percent of non-Millennials. Their rise to become a key component of China’s retail market is therefore underway.
Millennials: A generational shift
Currently, the average monthly income of Millennials (RMB 11,738) is lower than the rest of the population (RMB 12,423), with close to two-thirds of Millennial respondents earning less than RMB 10,000 a month. In additio...
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