How to grow via premiumisation
This article is part of a series of articles on premiumisation. Read more.
Need to know
- A new affluent class is becoming an important source of new buyers for premium products in China.
- Consumers are increasingly willing to “trade up". Even in relatively low-involvement, fast-moving consumer goods (FMCGs) categories, twenty percent of Chinese have bought more expensive products in the past year.
- China’s upper middle class also invests in “experiences” to provide a broad world view.
- However, there are tensions in this evolving society as people to struggle to ‘do it all’. Five...