{"id":14547,"date":"2024-09-07T06:30:00","date_gmt":"2024-09-07T06:30:00","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=14547"},"modified":"2025-04-23T08:57:56","modified_gmt":"2025-04-23T08:57:56","slug":"why-the-chinese-consumer-market-matters-in-2024","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/","title":{"rendered":"Why the Chinese consumer market matters in 2024"},"content":{"rendered":"\n

Between 2015 and 2023, the number of upper-middle and high-income households with annual disposable incomes of over RMB 170,000 (\u00a318,250) in China rose from\u00a034 million to 168 million. And in 2023,\u00a034% of global GDP growth was from China alone.<\/p>\n\n\n\n

While Chinese consumer confidence is still sluggish post-pandemic, further growth is inevitable from this hugely powerful and globally influential market. A recent McKinsey survey reveals that when compared to most other major consumer markets,\u00a0China still has one of the highest rates of consumer confidence globally, higher than the UK, Germany and Japan.<\/p>\n\n\n

\n
\"launchpad<\/a><\/figure>\n<\/div>\n\n\n

New consumer trends are always emerging in China\u2019s dynamic marketplace; amongst them, the rise of younger consumers outside of first-tier cities stands out as a great opportunity for international brands poised to capture this aspirational market.\u00a0UK brands are still in a strong position to win the hearts of Chinese audiences who enjoy the UK\u2019s heritage and quality offerings \u2013 should brands be savvy enough to package this heritage alongside local sentiments and successfully tell their story.<\/p>\n\n\n\n

Despite economic uncertainty,\u00a0Chinese consumers prioritise spending on lifestyle products and memorable experiences ahead of even some household essentials. With a new mindset emerging amongst Chinese consumer tribes<\/a> towards discretionary spending, UK brands need to adopt a tailored approach to catering to these evolving needs.\u00a0A granular understanding of the consumer subcultures and their aspirational lifestyle choices is essential to maximise the still boundless opportunities in the Chinese market.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

New China Consumer 2024 speakers announced: JLR, Whittard of Chelsea, Brompton Bicycle, Diageo and more<\/a><\/h4>\n\n\n\n

Join CBBC in London\u00a0on 14 October\u00a0for\u00a0China Consumer 2024<\/a> and hear the latest consumer insights from a range of knowledgeable speakers from\u00a0WPIC,\u00a0John Lewis,\u00a0Jaguar Land Rover,\u00a0Miller Harris,\u00a0Melt Season,\u00a0Jing Daily,\u00a0Alibaba\u00a0and\u00a0Douyin, as well as\u00a0leading KOLs Amy Zhong and James Smith, amongst many others.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Click here to explore the China Consumer 2024 speaker profiles<\/a><\/h4>\n\n\n
\n
\"\"<\/a><\/figure>\n<\/div>","protected":false},"excerpt":{"rendered":"

Between 2015 and 2023, the number of upper-middle and high-income households with annual disposable incomes of over RMB 170,000 (\u00a318,250) in China rose from\u00a034 million to 168 million. And in 2023,\u00a034% of global GDP growth was from China alone. While Chinese consumer confidence is still sluggish post-pandemic, further growth is inevitable from this hugely powerful and globally influential market. A recent McKinsey survey reveals that when compared to most other…<\/p>\n","protected":false},"author":13,"featured_media":11774,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[123],"tags":[2359,2427],"class_list":["post-14547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumer","tag-china-consumer-2024","tag-paywall"],"yoast_head":"\nWhy the Chinese consumer market matters in 2024 - Focus - China Britain Business Council<\/title>\n<meta name=\"description\" content=\"With a still-growing middle class, it's no wonder China has the consumer market most brands dream of tapping in to: here's how to get involved\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why the Chinese consumer market matters in 2024 - Focus - China Britain Business Council\" \/>\n<meta property=\"og:description\" content=\"With a still-growing middle class, it's no wonder China has the consumer market most brands dream of tapping in to: here's how to get involved\" \/>\n<meta property=\"og:url\" content=\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Focus - China Britain Business Council\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/chinabritainbusinesscouncil\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-07T06:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-23T08:57:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Antoaneta Becker\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ChinaBritain\" \/>\n<meta name=\"twitter:site\" content=\"@ChinaBritain\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Antoaneta Becker\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\"},\"author\":{\"name\":\"Antoaneta Becker\",\"@id\":\"https:\/\/focus.cbbc.org\/#\/schema\/person\/780c5a2518f57c6a9e3d15e766aaee25\"},\"headline\":\"Why the Chinese consumer market matters in 2024\",\"datePublished\":\"2024-09-07T06:30:00+00:00\",\"dateModified\":\"2025-04-23T08:57:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\"},\"wordCount\":313,\"publisher\":{\"@id\":\"https:\/\/focus.cbbc.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg\",\"keywords\":[\"China Consumer 2024\",\"Paywall\"],\"articleSection\":[\"Consumer\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\",\"url\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\",\"name\":\"Why the Chinese consumer market matters in 2024 - Focus - China Britain Business Council\",\"isPartOf\":{\"@id\":\"https:\/\/focus.cbbc.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg\",\"datePublished\":\"2024-09-07T06:30:00+00:00\",\"dateModified\":\"2025-04-23T08:57:56+00:00\",\"description\":\"With a still-growing middle class, it's no wonder China has the consumer market most brands dream of tapping in to: here's how to get involved\",\"breadcrumb\":{\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage\",\"url\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg\",\"contentUrl\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg\",\"width\":1000,\"height\":667},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/focus.cbbc.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why the Chinese consumer market matters in 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/focus.cbbc.org\/#website\",\"url\":\"https:\/\/focus.cbbc.org\/\",\"name\":\"CHINA-BRITAIN BUSINESS FOCUS\",\"description\":\"FOCUS is the content arm of The China-Britain Business Council\",\"publisher\":{\"@id\":\"https:\/\/focus.cbbc.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/focus.cbbc.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/focus.cbbc.org\/#organization\",\"name\":\"CBBC\",\"url\":\"https:\/\/focus.cbbc.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/focus.cbbc.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/05\/Asset-1.svg\",\"contentUrl\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/05\/Asset-1.svg\",\"width\":1,\"height\":1,\"caption\":\"CBBC\"},\"image\":{\"@id\":\"https:\/\/focus.cbbc.org\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/chinabritainbusinesscouncil\",\"https:\/\/x.com\/ChinaBritain\",\"https:\/\/www.linkedin.com\/company\/china-britain-business-council\/\",\"https:\/\/en.wikipedia.org\/wiki\/China\u2013Britain_Business_Council\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/focus.cbbc.org\/#\/schema\/person\/780c5a2518f57c6a9e3d15e766aaee25\",\"name\":\"Antoaneta Becker\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/focus.cbbc.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-29-at-13.23.42-96x96.png\",\"contentUrl\":\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-29-at-13.23.42-96x96.png\",\"caption\":\"Antoaneta Becker\"},\"description\":\"For more information on culture, retail and creative industries in China contact Antoaneta Becker - CBBC's lead on the consumer section - on Antoaneta.Becker@cbbc.org\",\"url\":\"https:\/\/focus.cbbc.org\/author\/antoaneta-becker\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why the Chinese consumer market matters in 2024 - Focus - China Britain Business Council","description":"With a still-growing middle class, it's no wonder China has the consumer market most brands dream of tapping in to: here's how to get involved","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/","og_locale":"en_GB","og_type":"article","og_title":"Why the Chinese consumer market matters in 2024 - Focus - China Britain Business Council","og_description":"With a still-growing middle class, it's no wonder China has the consumer market most brands dream of tapping in to: here's how to get involved","og_url":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/","og_site_name":"Focus - China Britain Business Council","article_publisher":"https:\/\/www.facebook.com\/chinabritainbusinesscouncil","article_published_time":"2024-09-07T06:30:00+00:00","article_modified_time":"2025-04-23T08:57:56+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg","type":"image\/jpeg"}],"author":"Antoaneta Becker","twitter_card":"summary_large_image","twitter_creator":"@ChinaBritain","twitter_site":"@ChinaBritain","twitter_misc":{"Written by":"Antoaneta Becker","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#article","isPartOf":{"@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/"},"author":{"name":"Antoaneta Becker","@id":"https:\/\/focus.cbbc.org\/#\/schema\/person\/780c5a2518f57c6a9e3d15e766aaee25"},"headline":"Why the Chinese consumer market matters in 2024","datePublished":"2024-09-07T06:30:00+00:00","dateModified":"2025-04-23T08:57:56+00:00","mainEntityOfPage":{"@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/"},"wordCount":313,"publisher":{"@id":"https:\/\/focus.cbbc.org\/#organization"},"image":{"@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg","keywords":["China Consumer 2024","Paywall"],"articleSection":["Consumer"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/","url":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/","name":"Why the Chinese consumer market matters in 2024 - Focus - China Britain Business Council","isPartOf":{"@id":"https:\/\/focus.cbbc.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage"},"image":{"@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg","datePublished":"2024-09-07T06:30:00+00:00","dateModified":"2025-04-23T08:57:56+00:00","description":"With a still-growing middle class, it's no wonder China has the consumer market most brands dream of tapping in to: here's how to get involved","breadcrumb":{"@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#primaryimage","url":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg","contentUrl":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2023\/02\/shutterstock_1459061360.jpg","width":1000,"height":667},{"@type":"BreadcrumbList","@id":"https:\/\/focus.cbbc.org\/why-the-chinese-consumer-market-matters-in-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/focus.cbbc.org\/"},{"@type":"ListItem","position":2,"name":"Why the Chinese consumer market matters in 2024"}]},{"@type":"WebSite","@id":"https:\/\/focus.cbbc.org\/#website","url":"https:\/\/focus.cbbc.org\/","name":"CHINA-BRITAIN BUSINESS FOCUS","description":"FOCUS is the content arm of The China-Britain Business Council","publisher":{"@id":"https:\/\/focus.cbbc.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/focus.cbbc.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/focus.cbbc.org\/#organization","name":"CBBC","url":"https:\/\/focus.cbbc.org\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/focus.cbbc.org\/#\/schema\/logo\/image\/","url":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/05\/Asset-1.svg","contentUrl":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/05\/Asset-1.svg","width":1,"height":1,"caption":"CBBC"},"image":{"@id":"https:\/\/focus.cbbc.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/chinabritainbusinesscouncil","https:\/\/x.com\/ChinaBritain","https:\/\/www.linkedin.com\/company\/china-britain-business-council\/","https:\/\/en.wikipedia.org\/wiki\/China\u2013Britain_Business_Council"]},{"@type":"Person","@id":"https:\/\/focus.cbbc.org\/#\/schema\/person\/780c5a2518f57c6a9e3d15e766aaee25","name":"Antoaneta Becker","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/focus.cbbc.org\/#\/schema\/person\/image\/","url":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-29-at-13.23.42-96x96.png","contentUrl":"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-29-at-13.23.42-96x96.png","caption":"Antoaneta Becker"},"description":"For more information on culture, retail and creative industries in China contact Antoaneta Becker - CBBC's lead on the consumer section - on Antoaneta.Becker@cbbc.org","url":"https:\/\/focus.cbbc.org\/author\/antoaneta-becker\/"}]}},"_links":{"self":[{"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/posts\/14547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/comments?post=14547"}],"version-history":[{"count":1,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/posts\/14547\/revisions"}],"predecessor-version":[{"id":14551,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/posts\/14547\/revisions\/14551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/media\/11774"}],"wp:attachment":[{"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/media?parent=14547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/categories?post=14547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focus.cbbc.org\/wp-json\/wp\/v2\/tags?post=14547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}