With Chinese consumers entering a new era of shopping, the consumer needs in the near future would grow around three themes: health, instant satisfaction, and personalization.
Recently in China, there is a lot of questioning about the once prevailing belief of "consumption upgrading" or "premiumization", which means consumers start to buy better products/services for higher quality and no longer care too much about prices. What is shaking the belief is the quick rise of so-called "consumption downgrading" apps and brands.
The bellwether of this crop is social group shopping/discount app Pinduoduo, which enables consumers to buy small brand (or even copycat brand) products at a very low price and achieve even deeper discounts if they invite WeChat friends to buy together. Pinduodu...
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