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1、December 2019 Greater China Consumer nearly all the growth has come from cities. These urban consumers are now the main driver of the Chinese economy, with their spending accounting for more than 60 percent of GDP growth1. And across the globe, Chinese consumer spending represented 31 percent of hou

2、sehold consumption growth from 2010 to 20172. Chinese consumer spending represented of global household consumption growth from 2010 to 2017 31% 1 In 11 of the 16 quarters since 2015 2 Source: World Bank data Annual household disposable income 2018 real RMB terms Urban Population in China mn Global

3、Affluent Mass affluent Aspirant Lower aspirant Poor 390K 297-390K 197-297K 79-138K 49-79K 49K 138-197KUpper aspirant 49%8% Upper aspirant Press search 14China consumer report 2020 Gucci sunglasses, Mercedes SUVs, Godiva chocolate, Gillette razors. Western brands used to be the mark of a comfortable,

4、 modern, middle class lifestyle in China. In contrast, shoppers perceived Chinese brands to be of inferior quality and lacking in cachet. In recent years, this has changed dramatically. Instead of focusing on lower priced products, many Chinese players have upgraded the quality, performance, and val

5、ue of their offerings. In our survey, respondents told us they had a clear preference for Chinese brands over foreign ones in 13 out of 19 categories. These include basic items like tissue paper, home cleaning products, milk, and fresh food, as well as products more connected to identity and lifesty

6、le, such as phones, computer tablets, beer, and household appliances like refrigerators. Between 33 and 57 percent of Chinese consumers say they prefer local brands in these categories. (Exhibit 11) New this year is the fact that many consumers are also likely to pick local brands for more expensive

7、 premium products. China is one of the top countries of origin for higher end digital devices, skincare, cosmetics, and red wine. Consumers are even developing a taste for Chinese fashion not generic knock offs but carefully crafted and branded clothes by Chinese designers like Ms Min, Ming Ma and A

8、ngel Chen. These fashion lines now appear alongside top Western brands in Chinas luxury department stores. Outside the luxury market, brands like Icicle have successfully catered to consumers seeking affordable homegrown fashion. Trend 5: High-end Chinese brands are increasingly appealing 15China co

9、nsumer report 2020 32 25 10 35 32 5 46 9 8 23 18 9 17 14 13 20 18 11 32 21 6 31 24 5 18 1212 19 14 11 20 13 10 25 13 8 Cosmetics Tier 3 and 4 Tier 1 and 2 1 Premium definition varies by price tier across categories. For a 1 liter bottle of dairy beverage, RMB 60-100; for personal digital gadgets, RM

10、B 5,000-12,000 for a smartphone; for skincare, RMB 1,500-5,000 for 50ml; for casual wear, RMB 8,000-20,000 for a jacket; for a bottle of red wine, RMB 2,000-5,000; for cosmetics, RMB 300-500 for lipstick. Source: McKinsey China Consumer Survey FranceUSAItaly Dairy China AustraliaUSA China AustraliaU

11、K Personal digital gadgets ChinaUSA Germany USAChinaJapan Skincare FranceChinaSouth Korea ChinaFranceSouth Korea Casual wear FranceUSAChina ChinaFranceItaly Red wine FranceChinaItaly FranceChina Switzerland FranceJapanChina At the same time, Chinese consumers remain confused about where brands origi

12、nate. Many believe that global brands with a longstanding presence in China are local brands. Half of all consumers say 7-Up is a Chinese brand and 49 percent think the same of Yakult drinks, which hail from Japan. On the other hand, Chinese brands that have Exhibit 11 Top 3 countries of origin that

13、 consumers most likely buy when purchasing premium1 products % of respondents in tier 1 and 2; tier 3 and 4 cities, N = 745/580 packaged themselves as international are often mistaken as foreign. Le Conte chocolate and BeingMate infant milk powder are thought to be foreign brands by 42 percent of re

14、spondents. 16China consumer report 2020 17China consumer report 2020 Implications for brands Double down on the Young Free Spenders Until recently, most global brands devoted the bulk of their marketing resources to Chinas largest cities like Shanghai or Beijing. We expect the buying power of Young

15、Free Spenders in lower tier cities to only increase and thus represent a growth engine for a wide range of categories. Companies should spend time understanding who these consumers are and what their key buying factors are, then have a clear plan to reach them. Developing premium and aspirational pr

16、oducts that are going to appeal to these consumers and focusing on the route to market and distribution in lower tier cities will be key. Companies will need to carefully consider their omnichannel strategies1, since many Young Free Spenders enjoy shopping in trendy malls, as well as spending time o

17、nline. In our survey, we found that consumers in tier 3 and 4 cities are more motivated by social engagement and product exclusivity than shoppers in tier 1 and 2 cities. As a result, parties and exhibitions may be more valuable in reaching Young Free Spenders than traditional marketing campaigns. P

18、roduct offers that feel unique to them are also likely to have appeal, as are creative uses of social media. Platforms like WeChat and Douyin (Tik Tok in English) now offer new direct-to-consumer channels or mini-programs that brands can use to influence and engage with consumers and drive sales. We

19、ve seen brands create a variety of programs, including attention-grabbing games and quizzes, one-off opportunities to purchase unique products from online and physical stores, and options for self- designed products or reservations for personalized services. Brands that want to capture the hearts an

20、d minds of Young Free Spenders should embed such social media engagement capabilities into their organizations. Monitor consumers who are “trading off”, especially in higher tier cities Companies will need to decide if their strategy should include Savvy and Frugal consumers as target segments. Toge

21、ther, these two groups comprise 31 percent of the urban population and reside primarily in higher tier cities. Brands that decide to target these consumers could pursue strategic partnerships with ecommerce players such as Pinduoduo, which do an effective job of reaching these segments. These platfo

22、rms can provide insights about and access to Savvy and Frugal consumers without encroaching on a brands more premium positioning and pricing in other channels. Capitalize on the health trend With 72 percent of urban consumers saying they are actively seeking a healthier lifestyle, many brands have a

23、n enormous opportunity to proactively shape perceptions about what it means to be healthy. In the vitamins and supplements category, for example, companies could emphasize their products as herbal and natural and highlight their value in preventative care. In addition to selling products, companies

24、will also want to emphasize how experiential offerings can contribute to a healthy lifestyle. Gym and fitness players, for instance, could upgrade their offerings beyond lessons and classes to include lifestyle elements like juice bars and relaxation lounges. Focusing on the quality of personal trai

25、ners and offering hassle- free experiences (such as online booking for training and classes) are also key factors in boosting enrollment. 72% of survey respondents told us they were actively seeking a healthier lifestyle 1 Source: McKinsey Digital, “China digital consumer trends 2019” 18China consum

26、er report 2020 Create distinct, memorable experiences that will surprise and delight Chinas more sophisticated consumers The fact that many Chinese travelers have grown tired of the standardized approach of large tour groups is further evidence that consumers are seeking not just high value products

27、 or services but novel experiences. Some retail brands have responded by creating immersive experiences for consumers. For example, Lululemon built a fitness and yoga community for consumers that centers on regular classes and large yoga events. Nike personalizes a customers interaction with the bra

28、nd and offers tailored shoes through its Nike by You program. Eyewear company Gentle Monster creates a sense of modern design and contemporary art in its brick-and- mortar stores and holds seasonal themed in-store exhibitions to maintain a sense of freshness. Be smart about how you incorporate Chine

29、se elements into your products Thanks to the governments campaign to boost national pride and the ongoing trade dispute with the U.S., Chinese consumers have plenty of reasons to be patriotic with their spending. Multinational companies should respond to the desire for Chinese products with innovati

30、on, introducing Chinese elements to their products and their branding in ways that feel sophisticated and authentic. For example, LOreal collaborated with the National Museum to offer five limited edition lipsticks that reflect Chinas artistic heritage. Each container features an image inspired by t

31、he classical elegance of five historic Chinese beauties. To allow for this kind of innovation, multinational companies should give greater freedom and flexibility to local teams. Chinese companies should take advantage of this trend by celebrating their Chinese heritage and origin, as this is someth

32、ing Chinese consumers are increasingly craving. Companies should pair this with continuous improvements in quality and desirability to create a value proposition that will be hard to beat. For example, Erdos, the worlds largest maker of cashmere products, is moving into a more premium segment and em

33、phasizing the higher end craftsmanship and design of these products. Conclusion Chinese consumers are responding in distinct ways to the countrys current economic uncertainty and slowing growth. Some continue spending freely and seeking out more expensive options, while others have grown more discer

34、ning and are tightening their belts. But for the large majority of consumers in our survey, there is a consistent story. These consumers remain confident and will collectively represent an economic powerhouse for the foreseeable future. 19China consumer report 2020 Our study combined a comprehensive

35、 survey of Chinese consumers, in-depth research, and observations from our work advising companies in China. The survey was conducted from May to July 2019, and is part of a series of comprehensive surveys of Chinese consumer behavior conducted by McKinsey since 2005. The survey sample included appr

36、oximately 5,400 respondents from 44 cities, representing approximately 90 percent of Chinas GDP and more than half of its population. We conducted online research with respondents, covering consumers general attitudes and purchasing behavior, key trends regarding their consumption patterns and leisu

37、re habits, and attitudes toward life, success, money, and health. The survey included a deep dive into apparel, cosmetics, and fast moving consumer goods categories, including food, personal care, and household products. Our research was supplemented by additional research that McKinsey is conductin

38、g on consumer sentiment in 26 countries. Results from our 2019 Global Sentiment Survey are available on . To download a free PDF of this report visit: About the McKinsey China Consumer Survey The authors would like to acknowledge the contributions of the following colleagues to the research and writ

39、ing of this report: Janet Guo, Eric He, Glenn Leibowitz, Joyce Liu, Carlton Ng, Kellie Wang, Jackey Yu and Cherie Zhang. Jia Zhou Associate Partner Beijing Felix Poh Partner Shanghai Daniel Zipser Senior Partner Shenzhen Johnny Ho Associate Partner Shanghai 2020China consumer report 2020 Greater China Consumer & Retail Practice December 2019 Copyright McKinsey & Company Designed by GCO NewMedia