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Showing posts with the label Consumtion.

News | China Consumers Leadres: Gen Z in China Drives Domestic Spending

  cnbc.com China's Gen Z consumers drive growth of domestic brands as spending power rises Sumathi Bala 3-4 minutes China's Gen Z consumers are driving the growth of domestic Chinese brands due to their rising purchasing power, said a senior executive at consumer-focused private equity firm L Catterton. This group of young consumers — born between 1996 and 2010 — accounts for 17% of China's population but 25% of total expenditure on new brands, according to L Catterton's latest consumer insights report on China. Unlike previous generations, China's Gen Z cohort is notably more globally minded and enthusiastic about "Made in China" products, Charlotte Chang, vice president of consumer insights at L Catterton, said in an interview on CNBC's "Streets Signs Asia." "They're so interesting, not only because of their outsized spending power and how digital