Breaking Borders: How Pacific Companies can Tap into the Buying Power of the Chinese Consumer

China, with its huge population and increasing affluence, is a very lucrative market for companies and brands in the Pacific. The Demand Institute, a non-profit think tank that focuses on understanding how consumer demand is evolving around the world, projects that consumers in China will spend $56 trillion over the next decade, with a largely young, affluent, connected consumer base with disposable incomes leading the charge.

The Nielsen Global Premiumisation Survey reveals that more than seven-in-10 (72{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) Chinese consumers feel they are financially better off than what they were five years ago. This is more than double the proportion of Pacific consumers in this position (30{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of Australians; 35{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of New Zealanders).

Seventy-two percent of consumers in China also say they live comfortably and are able to buy some things just because they want them – again well above Australian consumers (57{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) and Kiwis (55{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}). Nielsen – Read more…