Despite the slowdown in economic growth, China will remain one of the world's fastest- growing consumer markets in the foreseeable future. Three emerging forces—the upper middle class and affluent consumers, new era consumers, and online shopping will lead China's new consumption economy.
New customers and new trends in consumption
With the rise of these three forces, consumer demand, consumer behavior and lifestyle have also changed. With the wide spread of globalization and information such as media and brands, consumers' needs and preferences are becoming more and more personalized and delicate. Therefore, new segments of customers such as "singles" and "seniors" constantly spring up in China's consumer market. These new customer groups have completely different needs and prefer customized and personalized products and services. Accordingly, new consumption trends pursuing green life and intelligence have also emerged.