Subscribe To China Now

strategy

2019 China-New Zealand Year of Tourism: Things to know

A mix of academics, policymakers, tourist attraction agencies and operators came ...

read more
View all in strategy

finance

Trade war will not derail China’s promise to open up its...

Road maps, timetables ‘already very clear’ and will be implemented, ...

read more
View all in finance

profile

Rt Hon Winston Peters - Remarks at Chinese New Year function

Minister of Foreign Affairs. Remarks at the Chinese New Year parliamentary event  ...

read more
View all in profile

commentary

New Zealand’s exports to China trump sales to Australia and the...

New Zealand’s goods and services exports are dominated by three key countries, ...

read more
View all in commentary

general

Mandarin language assistants welcomed

Forty eight Mandarin Language Assistants were officially welcomed to New Zealand ...

read more
View all in general

Understanding the Chinese Millennial Consumer

Commentary

Goldman Sachs refers to Chinese millennials as “the single most important demographic on the planet today”. Making up one-third of China’s total consumers (415 million people), this group of young Chinese are a force to be reckoned with. They are the first Chinese people in living memory to have the chance to inherit and spend their parents’ wealth. They are digital natives who are reliant on technology, and see consumption as a form of self-expression and freedom. They are prone to job-hopping or increasingly, becoming entrepreneurs; and despite having a low salary compared to their Western counterparts, their disposable income is high, they travel extensively, and they borrow to spend. They see brands as part of their unique and rebellious identity, and are starting to pay attention to locally grown businesses. They demand a seamless integration of the offline and online worlds, and have built a “sisterhood” that forms the basis of the “she-conomy”. This is a fascinating demographic of growing importance to New Zealand. This Consumer Trends report looks to outline some of the key trends impacting Chinese millennials, and the potential opportunity they present to New Zealand.

CLICK HERE TO DOWNLOAD THE FULL ARTICLE

Article & Report written by MFAT (Beijing) April 2017