Living in Lower Tier Cities - China - July 2019
Covered in this report
China’s economic growth slowed to 6.6% in 2018, the weakest since 1990. Retail sales growth in 2018 also fell to 9.0% from 10.2% in 2017. As opportunities to grow in top tier cities become more limited due to fiercer competition, more attention is being paid to markets in rising lower tier cities. With less pressure from living costs and incentives driven by urbanisation and modernisation, consumers in lower tier cities are ready to upgrade their consumption.
This report, incorporating market and consumer observations, looks at different aspects to explore opportunities by understanding the values and expectations of consumers which influence their consumer decision making about consumption of products and services.
“Gaps between tier one and lower tier cities are narrowing both in educational and economic respects. Consumers in lower tier cities show a strong willingness to pursue the latest trends, driven by the fast spread of information, but have less products and services available to them compared to those in tier one cities. They enjoy shopping as a leisure activity and expect it to be more entertaining, both online and offline."
– Keiyou Wang, Category Director, China
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