Generation Z helping drive nation s consumption boom By HE WEI in Shanghai | China Daily | Updated: 2021-05-18 09:41 Share CLOSE Chinese sugar-free sparkling drink brand Yuanqi Senlin s products on display at a store in Beijing. [Provided to China Daily]
Group s monthly disposable income nearly 50 percent higher than average
As consumption is set to drive China s economic growth in the coming decade, discussions abound as to what will characterize the next generation of shoppers.
Widely known as Generation Z, the age group tends to embrace cost-effective local brands incubated from online channels, yet does not hesitate to splurge thousands of yuan tipping a favorite livestreaming host.
Generation Z helping drive nation s consumption boom
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Generation Z helping drive nation s consumption boom
chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
China has started a series of campaigns in May to boost consumer spending nationwide, as the retail sector continues to rebound from cautious spending caused by COVID-19.
Thirteen hundred themed activities, ranging from new product debuts to online-to-offline discounts, will be held in May and June under the 2021 National Consumption Promotion Month.
In an unveiling ceremony in Shanghai on May 1, Minister of Commerce Wang Wentao said the event aims to further stimulate market vitality, unleash consumption potential and better serve to build a new development pattern .
One flagship activity under the national initiative is Shanghai s 5-5 Shopping Festival, which debuted last year as the COVID-19 pandemic waned in China to spur buying by introducing new products, subsidies and activities.