Department of Trade and External Economic Relations Statistics, National Bureau of Statistics of China
Explore New Growth - China
Supply from the Globe, Consumption in China: Interpretation of Trends in the Chinese Consumer Goods Market
The data from the National Bureau of Statistics of China shows that after a decline in the second half of 2018, China's Consumer Confidence Index (CCI) regained its momentum in early 2019 to hit a 10-year high.
In the foreseeable future, domestic demand will continue to be the engine of China's economic growth. We have observed three significant changes in the Chinese consumer goods market worth exploring:
First, a substantial divergence has emerged among consumer behaviors;
Second, consumers were heading towards a healthier living after the pandemic;
Third, domestic consumer brands are becoming more premium.
Consumer goods companies can adjust their existing product and marketing strategies accordingly, and shift to a more sophisticated, personalized, and omnichannel model through deeper market penetration.
Jianxun Yu, Deputy Director-General, Department of Trade and External Economic Relations Statistics, National Bureau of Statistics of China.