Thomas Crampton

Social Media in China and across Asia

Demographics of China’s Wealthy

Apr 28, 2010

Category: China Tags: , , , ,

Interesting research report from McKinsey & Company about the wealthy consumers of China.

In addition to concluding that 80 percent of China’s wealthy are below the age of 45 – think about that for a second! – they also demarcated seven kinds of wealthy Chinese consumers.

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  • I think this data is very particular to China and shows a lot of unique values. In the US, there was a similar report where the main segments were women earning 200K, women earning 100K, and ambitious young men earning 200K.
    I also think the luxury culture is still very new, and this will continue to change as it matures.
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  • I think you need to completely believe in your product first of all and believe the its the best in all. Then for sure you come across to your customers with full determination and confidence and they'll have faith in you. Just remember that you and your product are the Best!
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