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China Marketing to the Middle Class Trend and Share 2014

Most up-to-date research on "Marketing to the Middle Class - China - June 2014" to its huge collection of research reports.

As a result of the government’s plans to reduce income disparity and also the living quality gap between rural and urban areas, the minimum wage has been rising in order to encourage China’s domestic consumption. Also, as the government is investing to upgrade the transport infrastructure throughout the country, this not only provides more employment opportunities in the Central/Western part of the country, but also stimulates income growth as there is increasing demand for technical jobs especially in the automotive and communications industries. The increase in wages, as a consequence, has allowed various lower income earners, typically those in the lower tier cities, to achieve middle class status.

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Table of Content

Introduction
Definition
Methodology
Limitations
Abbreviations

Executive Summary
The middle class consumer
Current financial situation
Figure 1: Current financial situation, March 2014
Financial products: Currently own or plan to buy
Figure 2: Financial products: currently own or plan to buy, March 2014
What the middle class most care about
Figure 3: What the middle class pay most attention to, March 2014
Changes in health-related activities
Figure 4: Health-related activities that are done now compared to last year, March 2014
Changes in leisure-related activities
Figure 5: Leisure related activities that are done now compared to last year, March 2014
Changes in discretionary spending
Figure 6: Discretionary spending compared to last year, March 2014
Attitudes towards health
Figure 7: Attitudes towards health, March 2014
Attitudes towards leisure lifestyles
Figure 8: Attitudes towards leisure lifestyles, March 2014
Financial perceptions and attitudes towards spending
Figure 9: Financial perceptions and attitudes towards spending, March 2014
Understanding different types of middle classes in China
Figure 10: Target groups, March 2014
Affluents – low financial pressure and high willingness for discretionary spending
Stressed-outs – high financial pressure and willingness for discretionary spending
Chill-outs – low financial pressure and willingness for discretionary spending
Entrants – high financial pressure and low willingness for discretionary spending
Key issues
What opportunities can help the middle class to achieve a healthy lifestyle?
How can financial services retain the Affluent?
How do leisure products/services target middle class?
How do premium products/services appeal to the middle class?

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Chinese Middle Class – The Background
Key points
Continuous income growth breeds the middle class
Figure 11: Per capita income level in rural and urban areas, China, 2008-13
Middle class definition is evolving over time as the country’s economy develops
White collar workers constitute the bulk of the middle classes
Figure 12: Breakdown of the profession of the surveyed respondents, March 2014
Emergence of the young fuerdai (Rich 2G)
Car ownership and property ownership
Figure 13: Property ownership, March 2014
Figure 14: Car ownership, March 2014
High living pressure in tier one cities; low living pressure in tier two/three cities
Figure 15: Consumer attitudes towards financial pressure, by tier-one cities, December 2013
Figure 16: Income growth (CAGR 2008-12) and property affordability measure in 2012, by cities
Emerging middle classes in Western/Central region and lower tier cities
Figure 17: GDP, CAGR of GDP and growth measure, by cities, China 2008-12

Issues and Insights
What opportunities can help the middle class to achieve a healthy lifestyle?
The facts
The implications
How can financial service companies retain the Affluents?
The facts
The implications
How do leisure services companies target middle class consumers?
The facts
The implications
Figure 18: Attitude towards full service restaurants, by demographics, October 2013
Diversified holidays/activities offer to middle class families with children
How do premium products/services appeal to middle classes?
The fact
The implications
Figure 19: Important factors for paying a premium price, by income groups, December 2013
Figure 20: Top 5 sub-categories with environmentally friendly product claims, China, April 2010-14
Figure 21: Top 10 sub-categories with environmentally friendly product claims, China, UK and US, 2010-14 (April)
Figure 22: Selected shopping habits statements, March 2013

Trend Application
Trend: Edutainment
Trend: Help Me Help Myself
Mintel futures: Generation Next

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