2023
0
The Chinese Consumer Market Report 2023
2023-06-14T04:04:57+01:00
OX1154629
4995
164151
[{"name":"Consumers and Trends","url":"https:\/\/store.mintel.com\/industries\/consumers-trends"}]
Report
en_GB
“A recovery is imminent, but it may not be so swift. People yearn to reconnect with the world and live in a relaxed, healing way. However, lifestyle changes brought about…

The Chinese Consumer Market Report 2023

$ 4,995 (Excl.Tax)

Description

Stay ahead of the curve and future-proof your business with Mintel’s Chinese Consumer Market Report 2023. Our full report is an annual summary of China’s economic development status, changes in population structure and trends in consumers’ lifestyles and attitudes.

Key Issues Covered in this Report

This report provides an overview of key stories of Chinese consumer spending in the following market sectors:

  • In-home food
  • Foodservice (eating out and takeaways)
  • Non-alcoholic drinks
  • Alcoholic drinks–in-home and out-of-home
  • Beauty and personal care
  • OTC and pharmaceuticals
  • Clothing and accessories
  • Household care
  • Technology and communication
  • Leisure and entertainment
  • Home
  • Transport
  • Holidays
  • Personal finance and housing

Expert Insights from a Senior Analyst

This report, written by Blair Zhang, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the Chinese Consumer market and add expert context to the numbers.

A recovery is imminent, but it may not be so swift. People yearn to reconnect with the world and live in a relaxed, healing way. However, lifestyle changes brought about by the pandemic, such as attention to health and hygiene and cautious consumption sentiment, will continue in the short term. Consumers may focus more on value over price. Providing greater value at lower cost while trying to instil consumer confidence in the future will become tests for brands in the post-pandemic era.”

Blair Zhang
Senior Research Analyst

 

Table of Contents

  1. Overview

    • Key issues covered in this Report
  2. Executive Summary

    • China today
    • China’s economy is resilient under pressure
      • Figure 1: Quarterly growth of GDP, China, 2013-23
      • Figure 2: Monthly Purchasing Managers’ Index, China, 2022-23
      • Figure 3: Year-on-year growth rate of consumer retail sales and by service type, China, 2022-23
      • Figure 4: Monthly surveyed urban unemployment rate, China, 2018-23
    • Population aging challenges China’s long-term development
      • Figure 5: Total population and growth rate, China, 2013-22
      • Figure 6: Senior people’s share of population, China, 2013-22
    • Consumer spending
    • Consumer expenditure decreased by 2.4% in 2022
      • Figure 7: Total consumer expenditure and year-on-year growth rate, China, 2017-22 (est.)
      • Figure 8: Consumer expenditure and share by sector, 2022 (est.)
    • Short-term impact and five-year outlook
      • Figure 9: Forecast on total consumer expenditure, China, 2017-27
    • The consumer
    • High earners maintained their income growth momentum
      • Figure 10: Household income situation in the past year, 2023
    • Spending plans for 2023 similar to 2022
      • Figure 11: Spending plan for the next year, 2022-23
    • Relaxing lifestyle and home-related spending have the potential to grow
      • Figure 12: Sectors to increase spending in the next 12 months, 2023
    • Value for money is an important purchase factor across all sectors
      • Figure 13: Key purchase factors, 2023
    • Discretionary spending sentiment remains conservative
      • Figure 14: Discretionary spending priorities, 2019-23
    • Looking forward to an aspiring and energetic year
      • Figure 15: Top 10 life goals for the next year, 2023
      • Figure 16: Life goals for the next year, 2023
    • What we think
  3. China Today

    • The economy
    • Growth is slowing – China went through a tough year
      • Figure 17: Quarterly growth of GDP, China, 2013-23
    • Restoring retail industry is a priority – consumption upgrade is the breakthrough point
      • Figure 18: Year-on-year growth rate of consumer retail sales and by service type, China, 2022-23
      • Figure 19: Year-on-year growth rate of consumer retail sales, by sectors, China, 2022-23
    • Business activities are regaining vitality after large fluctuations in 2022
      • Figure 20: Monthly Purchasing Managers’ Index, China, 2022-23
      • Figure 21: Monthly Purchasing Managers’ Index (manufacturing), by company size, China, 2022-23
    • Moderate increase in consumer prices
      • Figure 22: Consumer Price Index, year-on-year growth and changes from previous month, China, 2022-23
    • The people
    • Decline in population and birth rate pose challenges to long-term economic development
      • Figure 23: Total population and growth rate, China, 2013-22
      • Figure 24: Birth rate and death rate, China, 2013-22
    • The aging society brings both challenges and opportunities
      • Figure 25: Senior people’s share of the population, China, 2013-22
      • Figure 26: Old dependency ratio (老年抚养比), 2013-21
    • Income growth continued slowing down
      • Figure 27: Growth of per capita disposable income (without price adjustment), China, 2013-22
    • Unstable employment situation adds uncertainty to recovery
      • Figure 28: Monthly surveyed urban unemployment rate, China, 2018-23
  4. Consumer Spending

    • Spending overview
    • Total spending decreased by 2.4% in 2022
      • Figure 29: Total consumer expenditure and year-on-year growth rate, China, 2017-22 (est.)
    • ‘Coronaphobia’ drives hygiene and wellness-related spending, while discretionary spending fell
    • Shares and rankings of basic living sectors increased
      • Figure 30: Consumer expenditure and share by sector, 2022 (est.)
      • Figure 31: Spending rankings by segments, 2019-22 (est.)
    • Short-term impact after COVID-19 relaxation
      • Figure 32: Financial status: a lot or a little bit better off, China, 2020-23
      • Figure 33: Consumer confidence in the next 3 months: very or somewhat confident, China, 2020-23
      • Figure 34: Plans after relaxation of COVID-19 restrictions, 2023
    • Five-year outlook
      • Figure 35: Forecast on total consumer expenditure, China, 2017-27
  5. Sector Review

  6. In-home Food

    • What we think
    • In-home food spending picked up in 2022
      • Figure 36: Consumer expenditure on in-home food, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Local brands are launching carbon-neutral products to achieve sustainability
      • Figure 37: Examples of carbon-neutral products launched by local food brands, 2022-23
    • ‘Designed for children’ penetrates more categories
      • Figure 38: Examples of meal solutions designed for children, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 39: Forecast for consumer expenditure on in-home food, 2017-27
    • Key consumer trends to watch
  7. Foodservice (Eating Out and Takeaways)

    • What we think
    • Foodservice spending dropped in 2022
      • Figure 40: Consumer expenditure on foodservice (eating out and takeaways), 2017-22 (est.)
    • Segment review
    • What’s new?
    • Starbucks drive into new retail channel with digital service
      • Figure 41: Starbucks Curbside service in China, 2023
    • Building a Chinese-style sense of ritual with seasonal features
      • Figure 42: Examples of stove-boiled tea practice, 2022
      • Figure 43: Examples of spring limited-edition products, 2023
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 44: Forecast for consumer expenditure on foodservice (eating out and takeaways), 2017-27
    • Key consumer trends to watch
  8. Non-alcoholic Drinks

    • What we think
    • Consumption growth slowed down in 2022
      • Figure 45: Consumer expenditure on non-alcoholic drinks, 2017-22 (est.)
    • Segment review
    • Carbonated soft drinks
    • Energy drinks
    • Instant, drip bag and pod coffee
    • What’s new?
    • Free from potassium sorbate becomes the fourth ‘zero’
      • Figure 46: Product examples of C’estbon FEEL and Nongfu Spring Soda Sparkling Water, China, 2022
    • The emergence of carbon-neutral drinks
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 47: Forecast for consumer expenditure on non-alcoholic drinks, 2017-27
    • Key consumer trends to watch
  9. Alcoholic Drinks – In-home and Out-of-home

    • What we think
    • Slack growth in out-of-home alcohol consumption in 2022
      • Figure 48: Consumer expenditure on alcoholic drinks (in-home), 2017-22 (est.)
      • Figure 49: Consumer expenditure on alcoholic drinks (out-of-home), 2017-22 (est.)
    • Segment review
    • What’s new?
    • Flavour innovation keeps bringing new blood to the market
      • Figure 50: Example of alcoholic drinks with a novel flavour profile, China, 2022
    • Alcoholic drinks with functionality
      • Figure 51: Example of alcoholic drinks with added functionality, China, 2022-23
    • Sustainability comes under the spotlight
      • Figure 52: Examples of alcoholic drink brands with sustainability practices, China, 2023
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 53: Forecast for consumer expenditure on alcoholic drinks (in-home), 2017-27
      • Figure 54: Forecast for consumer expenditure on alcoholic drinks (out-of-home), 2017-27
    • Key consumer trends to watch
  10. Beauty and Personal Care

    • What we think
    • BPC turned to decline in 2022
      • Figure 55: Consumer expenditure on beauty and personal care, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Skin health comes into the spotlight
      • Figure 56: Examples of skincare brands targeting skin microbiome, China, 2022
      • Figure 57: Examples of skincare products combining repairing and other skincare functions, China, 2022
    • Emotional benefits become important to beauty brands
      • Figure 58: Binarix Boost Me Advanced Repairing Nutritious Cream, China, 2022
      • Figure 59: Cooperation of Tao of Zhuben and luxury hotels, China, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 60: Forecast for consumer expenditure on beauty and personal care, 2017-27
    • Key consumer trends to watch
  11. OTC and Pharmaceuticals

    • What we think
    • OTC and pharmaceutical spending maintained strong growth in 2022
      • Figure 61: Consumer expenditure on OTC and pharmaceuticals, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Crossover collaboration resonates with the new generation of Chinese
      • Figure 62: 999 Ganmaoling’s campaign in collaboration with Bananain, China, 2022
    • Marketing dietary supplements as ‘fashion items’
      • Figure 63: SWISSE’s fashion magazine-alike campaign, China, 2022
    • Contact lenses became a hot topic in children’s myopia prevention
      • Figure 64: CooperVision’s MiSight contact lenses, China, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 65: Forecast for consumer expenditure on OTC and pharmaceuticals, 2017-27
    • Key consumer trends to watch
  12. Clothing and Accessories

    • What we think
    • Clothing and accessories spending dropped in 2022
      • Figure 66: Consumer expenditure on clothing and accessories, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Fashion in the metaverse
      • Figure 67: China Fashion Week launched a show and Nike designed new sneakers in the metaverse, 2022
    • Carbon-zero fashion
      • Figure 68: CQT carbon critical technology by 361° and carbon-zero underpants by Bananain, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 69: Forecast for consumer expenditure on clothing and accessories, 2017-27
    • Key consumer trends to watch
  13. Household Care

    • What we think
    • Household care spending gained robust growth in 2022
      • Figure 70: Consumer expenditure on household care, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Deeper engagement with consumers’ evolving lifestyles
      • Figure 71: Examples of household care brands catering to specific lifestyles, 2022
    • Seek growth opportunities by pairing appliances with products
      • Figure 72: Examples of pairing household appliances with household care products, 2023 and 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 73: Forecast for consumer expenditure on household care, 2017-27
    • Key consumer trends to watch
  14. Technology and Communication

    • What we think
    • Technology and communication spending takes a hit in 2022
      • Figure 74: Consumer expenditure on technology and communication, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Generative AI is bringing revolution to productivity
      • Figure 75: Examples of generative AI tools – ChatGPT and Wenxin Yiyan, 2022
    • Unlocking novel experiences with the metaverse
      • Figure 76: Examples of marketing activities utilizing the metaverse concept – Coca-Cola’s fan festival and Gucci town, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 77: Forecast for consumer expenditure on technology and communications, 2017-27
    • Key consumer trends to watch
  15. Leisure and Entertainment

    • What we think
    • Leisure spending dropped in 2022
      • Figure 78: Consumer expenditure on leisure and entertainment, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Gaming brands playing up social value
      • Figure 79: Example of gaming brands advocating ‘playing for good’, 2022
    • Creative interpretation of classic culture is celebrated among the youth
      • Figure 80: Examples of creative re-interpretation of traditional Chinese culture, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 81: Forecast for consumer expenditure on leisure and entertainment, 2017-27
    • Key consumer trends to watch
  16. Home

    • What we think
    • Home spending experienced a decline in 2022
      • Figure 82: Consumer expenditure on home, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Enhancing healthy home living
      • Figure 83: Examples of brands enhancing healthy home living, 2022
    • Multifunction upgrades bring more possibilities and convenience
      • Figure 84: Examples of multifunction upgrades of household appliances, 2022
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 85: Forecast for consumer expenditure on home, 2017-27
    • Key consumer trends to watch
  17. Transport

    • What we think
    • Resurgence of the outbreak reduces transport expenditure
      • Figure 86: Consumer expenditure on transport, 2017-22 (est.)
    • Segment review
    • What’s new?
    • New market opportunities brought by self-driving tours
    • Intelligent emergency support is a battleground for the car aftermarket in the digital age
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 87: Forecast for consumer expenditure on transport, 2017-27
    • Key consumer trends to watch
  18. Holidays

    • What we think
    • Holiday spending declined significantly in 2022
      • Figure 88: Consumer expenditure on holidays, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Fitness-themed hotels see investment boom
      • Figure 89: VYTEL Hotel by Jinjiang Groups, 2022
      • Figure 90: FILA HOUSE Shanghai by FILA and Hyatt, 2022
      • Figure 91: Co-branded clothing line and stores by ARCTERYX and SONGTSAM, 2023
    • Tourism destinations featuring themed trendy elements are gaining popularity
      • Figure 92: Tourist street in Xi’an reproducing scenes from the drama The Longest Day in Chang’an, 2022
      • Figure 93: Guochao-themed electronic music festival by Happy Valley Beijing, 2022
      • Figure 94: Metaverse Dunhuang Museum by Culture and Tourism Department of Gansu Province and Taobao, 2023
    • Applying AI chatbots to the tourism industry
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 95: Forecast for consumer expenditure on holidays, 2017-27
    • Key consumer trends to watch
  19. Personal Finance and Housing

    • What we think
    • Personal finance and housing spending stagnant in 2022
      • Figure 96: Consumer expenditure on personal finance and housing, 2017-22 (est.)
    • Segment review
    • What’s new?
    • Home property insurance received explosive growth
    • The five-year outlook
    • Short-term impact after COVID-19 relaxation
    • Long-term prediction
      • Figure 97: Forecast for consumer expenditure on housing and finance, 2017-27
    • Key consumer trends to watch
  20. Household Income Situation

    • High earners maintained their income growth momentum
      • Figure 98: Household income situation in the past year, by age, family situation, and city tier, 2023
    • High/middle household income groups are the first to recover in 2023
      • Figure 99: Financial status: a lot or a little bit better off, by monthly household income, 2022-23
  21. Spending Plans for the Next Year

    • Spending plans for 2023 mostly unchanged from 2022
      • Figure 100: Spending plan for the next year, 2022-23
    • Consumers aged 25-29, 50-59s and high-income families are most eager to increase spending
      • Figure 101: Spending plan for the next year – ‘ I will increase spending’, by gender, age and monthly household income, 2022-23
  22. Sectors to Increase Spending

    • Eating, relaxing and home living receives high spending priority in 2023
      • Figure 102: Sectors to increase spending in the next 12 months, 2023
      • Figure 103: Chinese Consumer Tracker – February 2023 – out-of-home leisure participation, 2022-23
    • Home-related spending has the potential to grow
      • Figure 104: Sectors to increase spending – home sector, by living situation, 2023
    • Active spenders pay the greatest attention to the home sector
      • Figure 105: Sectors to increase spending, by spending plans for the next year, 2023
    • Young females will drive the revival of beauty and personal care sector spending
      • Figure 106: Sectors to increase spending – beauty and personal care sector, by gender and age, 2023
  23. Key Purchase Factors

    • Attention to cost performance runs through all aspects of life
      • Figure 107: Key purchase factors, 2023
      • Figure 108: Top 3 key purchase factors, by category, 2023
    • Consumer desire for new functions will drive disruptive innovation in home products
      • Figure 109: Gaps for key purchasing factors – home products, by spending plans for the next year, 2023
    • Clothing and accessories buyers pay more attention to brand names
      • Figure 110: Gaps for key purchasing factors – clothing and accessories, by spending plans for the next year, 2023
  24. Discretionary Spending Priorities

    • Discretionary spending sentiment still conservative
      • Figure 111: Discretionary spending priorities, 2019-23
      • Figure 112: Discretionary spending priorities – ranking, 2022-23
    • Fitness is a priority among high earners
      • Figure 113: Discretionary spending priorities – pay for gym/fitness club membership or classes, by monthly household income, 2023
    • Home furnishing may target multi-generation families
      • Figure 114: Discretionary spending priorities – pay for home furnishings/furniture, by living situation, 2023
    • Low tier cities consumers show growing interest in offline live entertainment events
      • Figure 115: Discretionary spending priorities – pay for going to a live concert/sporting event/theatre, by city tier, 2022-23
  25. Life Goals for 2023

    • Consumers are eager to travel
      • Figure 116: Life goals for the next year, 2023
    • Consumers are strongly self-motivated to make money and have savings
      • Figure 117: Life goals for the next year, 2023
    • Property buying intention is relatively weak in lower tier cities
      • Figure 118: Life goals for the next year, 2023
    • Attention to family life stays high after the pandemic
      • Figure 119: Chinese Consumer Monthly Tracker – most concerned issues in life, 2020-23
  26. Appendix – Methodology and Abbreviations

    • Methodology
    • Abbreviations
  27. Appendix – Market Size and Forecast Data

      • Figure 120: Total consumer expenditure (RMB bn), by market sectors, China, 2022-27
      • Figure 121: Year-on-year growth rate of total consumer expenditure (RMB bn), by market sectors, China, 2022-27

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

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Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

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*databooks not available with UK B2B Industry reports.

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