China is experiencing an increasing emphasis on self-expression. For consumer companies, one consequence is that the importance of emotional considerations in purchase decisions is rising.
Hypermarkets have been hugely popular in China; from next to nothing in 1997, there are now 2,400 of them. But the low-hanging fruit has been picked. Not only is the competition tightening, but retail dynamics are changing.
Social media is exploding worldwide, and China is leading the way. A new McKinsey survey of 5,700 Internet users in China—the first of its kind—explores the behavior of Chinese consumers on social networks.
Consumer companies know China is important. To succeed there, though, they need to understand the economic and social changes that are redefining the way that Chinese consumers spend.
The dynamics of China’s mobile phone market are changing, in particular the way that people buy their handsets. Who are the likely winners? And losers?
Consumer goods companies desperately want to reach China’s millions of emerging customers. To do so, they will need multiple strategies.
What makes Chinese consumers tick? What are they worrying about? How will burgeoning inflation shape their behavior? See the answers to these questions and more in McKinsey's most recent in-depth survey of Chinese shoppers.
China's rising middle class loves to shop. But it is also going in for less conspicuous consumption, in the form of financial products.
Chinese consumers want to spend—and they want to save. Here's what business needs to know about how they manage their wallets.
Big box stores and malls in China’s top cities are growing fast—14 percent a year. But here’s the surprise: Traditional retail in lower-tier markets is often much more profitable.
McKinsey's in-depth annual report on the Chinese luxury market reveals two major trends: There are more luxury consumers, and they are more sophisticated.
Taking advantage of heightened consumer spending during New Year's celebrations can pay dividends down the line.
China is already the second-largest apparel market in the world—and there is plenty of room to grow. The keys to winning in this fragmented and diverse market: Understanding, planning and execution.
Rural China is home to 750 million consumers, and a fast-growing market of $426 billion. Here's how to reach them.
China consumers are changing the way they shop. here are four ways that smart retailers can capitalize.
They spend more in categories they highly value, and they generally trade down in less compelling ones.
China already has 420 million people online; here's how to turn those big numbers into profits.
Companies are beginning to design products specifically for the Chinese market. Is this a good idea?
To win the Chinese consumer, retailers must master the most traditional kind of marketing: inside the store.
What strategies work for companies seeking to boost sales in China? The Chief Marketing Survey has some answers.
Gordon Orr, a director in McKinsey’s Shanghai office, offers 10 predictions about China in 2012. Two of them: Real estate will stagnate and green investment will thrive. Read more
1. A country of optimists: 58% said they expected their incomes to rise in the next year, compared with 39% in 2010.
2. The Internet’s limited reach: Only 28% of those surveyed said they had recently received product information online.
3. Why they are spending more: 35% said they are “trading up” to more expensive products and 60% are buying more or more often.
SOURCE: McKinsey 2011 Annual Chinese Consumer Study
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