Meet the Chinese consumer of 2020 | The Insight Files | Scoop.it

Most large consumer-facing companies realise they will need China to power their growth in the next decade. But to keep pace, these companies will also need to understand the economic, societal and demographic changes shaping the profiles of consumers and the way they spend. This is no easy task not only because of the fast pace of growth and subsequent changes in the Chinese way of life but also because of the vast economic and demographic differences across the country. Since 2005, McKinsey has conducted annual consumer surveys in China, interviewing a total of more than 60,000 people in upward of 60 cities. McKinsey's understanding of consumer trends to date, coupled with an analysis of the economic and demographic factors that will further shape them in the next decade, serve as a useful lens for contemplating the profile of the Chinese consumer in 2020. Click here to learn more about China's changing demographics, evolving economic profiles and the associated implications.