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byline-share-container"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-8 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-8 mdc-u-ts-9"><span> </span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Johnny Ho </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Felix Poh </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Jia Zhou<span> </span></span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/daniel-zipser" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Daniel Zipser</span></a></span></span></div><div class="mdc-u-grid-col-md-start-8 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-8 mdc-u-grid-col-lg-end-11 ArticleContent_mck-c-article-content__share-tools__kWRRw"></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-5"><div class="mck-u-links-inline">Five trends emerged in the latest research from our Chinese Consumer Survey, offering insight into what over 5,000 consumers in the region think about spending, brands, health, and more.</div></div></div></section><main data-layer-region="article-body" class="mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-1 mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div class="mdc-o-content-body mck-u-dropcap"><div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="DownloadsSidebar_mck-c-downloads-sidebar__iFmyt mck-o-xs-right-span"><div data-layer-region="downloads-right-rail"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f"></h3><div><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f"><a data-component="mdc-c-link" href="/~/media/mckinsey/featured insights/china/china consumer report 2020 the many faces of the chinese consumer/china-consumer-report-2020-vf.pdf" class="DownloadsSidebar_mck-c-downloads-sidebar__download-link__fPqFQ mdc-c-link___lBbY1_2734c4f" target="_blank" data-layer-event-prefix="Download Link" data-layer-action="click" data-layer-report-type="" data-layer-file-name="china-consumer-report-2020-vf" data-layer-report-name="china-consumer-report-2020-vf>"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--size-md___yi5fA_2734c4f mck-download-icon"></span><span class="mdc-c-link__label___Pfqtd_2734c4f"> (PDF-4 MB)</span></a></div></div></div></div> <p><strong>China’s slowing GDP</strong> and the trade dispute with the United States have injected a cloud of uncertainty into the Chinese economy. Some observers have predicted that these developments will spell bad news for Chinese consumption, which has thus far been a powerhouse for economic growth.</p> <p>Our research shows that they may not need to worry too much.</p> <p>Although traditional drivers of China’s economy—investment, exports, and manufacturing—are struggling, the country’s consumers remain confident. After dipping in the second half of 2018, the Consumer Confidence Index hit a ten-year high earlier this year (Exhibit 1). </p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 1</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/featured%20insights/china/china%20consumer%20report%202020%20the%20many%20faces%20of%20the%20chinese%20consumer/svgz-chinaconsumerreport-ex1-revised.svgz?cq=50&cpy=Center"/><img alt="Although retail sales growth has slowed, the Consumer Confidence Index has bounced back since the start of the China–US trade dispute." src="/~/media/mckinsey/featured%20insights/china/china%20consumer%20report%202020%20the%20many%20faces%20of%20the%20chinese%20consumer/svgz-chinaconsumerreport-ex1-revised.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div>  <p>Consumers in China are proving to be remarkably resilient and remain a powerful, transformative force not just in China but also across the globe. Although it’s likely the growth rate for consumer spending will be slightly lower in 2019 than in 2018, consumers continue to increase their spending by a considerable margin and are eager to pay for items with a strong value proposition. This year’s Singles Day (also referred to as Double 11), for instance, was record shattering. Total sales on all platforms were up 31 percent over last year and reached 410 billion renminbi ($58 billion), far more than Cyber Monday’s and Black Friday’s online sales combined.</p> <p>The overall pace at which Chinese consumption has grown is almost hard to imagine: just a decade ago, most urban Chinese had enough money to cover basic needs like food, clothes, and housing (92 percent had annual household disposable incomes of 140,000 renminbi or less). Today, half are living in relatively well-to-do households (annual disposable incomes of 140,000 renminbi to 300,000 renminbi) where they have ample funds for perks like regular meals out, beauty products, flat-screen TVs, and holiday travel (Exhibit 2) .</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-disruptor1up mck-o-md-center mck-u-inline-module-border-top mck-u-inline-module-border-bottom mck-u-screen-only" data-layer-region="disruptor-1up"><div class="mdc-u-grid mdc-u-grid-gutter-md mdc-u-grid-col-lg-12 mdc-u-grid-col-md-12 "><div class="mdc-u-grid-col-lg-span-4 mdc-u-grid-col-md-span-5 Disruptor1Up_mck-c-disruptor1up__image___2Gc4"><picture data-component="mdc-c-picture"><img alt="Cautiously optimistic: Chinese consumer behavior post-COVID-19" src="/~/media/mckinsey/industries/consumer%20packaged%20goods/our%20insights/cautiously%20optimistic%20chinese%20consumer%20behavior%20post%20covid%2019/cautiously-optimistic-1536x1536.jpg?cq=50&mh=145&car=16:9&cpy=Center" loading="lazy"/></picture></div><div class="mdc-u-grid-col-lg-span-8 mdc-u-grid-col-md-span-7"><header data-component="mdc-c-header" class="mdc-c-header"><div class="mdc-c-header__block___i1Lg-_2734c4f"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f"><div>Cautiously optimistic: Chinese consumer behavior post-COVID-19</div></h3></div></header><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--display-column___X0HDD_2734c4f mck-c-disruptor1up__content Disruptor1Up_mck-c-disruptor1up__content--links__VV4lE mdc-u-grid-gutter-md"><a data-component="mdc-c-link" href="/industries/consumer-packaged-goods/our-insights/cautiously-optimistic-chinese-consumer-behavior-post-covid-19" class="mdc-c-link-cta___NBQVi_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Read our latest thinking on Chinese consumers</span><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mck-link-arrow-right-icon"></span></a></div></div></div></div> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 2</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/featured%20insights/china/china%20consumer%20report%202020%20the%20many%20faces%20of%20the%20chinese%20consumer/svgz-chinaconsumerreport-ex2.svgz?cq=50&cpy=Center"/><img alt="The middle class population is rising in China." src="/~/media/mckinsey/featured%20insights/china/china%20consumer%20report%202020%20the%20many%20faces%20of%20the%20chinese%20consumer/svgz-chinaconsumerreport-ex2.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>Most rural Chinese, on the other hand, remain relatively poorer; nearly all the growth has come from cities. These urban consumers are now the main driver of the Chinese economy, with their spending accounting for more than 60 percent of GDP growth.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="6762cd80-15b1-4436-8a9f-93b3dd0e360c"><sup class="FootNote_footnotesup__e73z_">1</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="6762cd80-15b1-4436-8a9f-93b3dd0e360c" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">In 11 of the 16 quarters since 2015.</span></span></span></a></span> And across the globe, Chinese consumer spending represented 31 percent of household consumption growth from 2010 to 2017.</p> <p>Now, ten years into this expansion, consumer behavior is shifting, and we see a bifurcation among Chinese consumers. On one hand, a segment of consumers in lower-tier cities continues spending money freely without any worry about cost or saving for the future. Other consumers, though, mostly in large, expensive cities such as Beijing, Guangzhou, and Shanghai are responding to the dip in China’s economic growth and the increased cost of urban living by adjusting their attitudes and, in some cases, their spending.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-disruptor1up mck-o-md-center mck-u-inline-module-border-top mck-u-inline-module-border-bottom mck-u-screen-only" data-layer-region="disruptor-1up"><div class="mdc-u-grid mdc-u-grid-gutter-md mdc-u-grid-col-lg-12 mdc-u-grid-col-md-12 "><div class="mdc-u-grid-col-lg-span-4 mdc-u-grid-col-md-span-5 Disruptor1Up_mck-c-disruptor1up__image___2Gc4"><picture data-component="mdc-c-picture"><img alt="Speak softly, make tough decisions: An interview with Alibaba CEO Daniel Zhang" src="/~/media/mckinsey/featured%20insights/china/speak%20softly%20make%20tough%20decisions%20an%20interview%20with%20alibaba%20ceo%20daniel%20zhang/speak-softly-make-tough-decisions-1536x1536.jpg?cq=50&mh=145&car=16:9&cpy=Center" loading="lazy"/></picture></div><div class="mdc-u-grid-col-lg-span-8 mdc-u-grid-col-md-span-7"><header data-component="mdc-c-header" class="mdc-c-header"><div class="mdc-c-header__block___i1Lg-_2734c4f"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f"><div>Speak softly, make tough decisions: An interview with Alibaba Group chairman and CEO Daniel Zhang</div></h3></div></header><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--display-column___X0HDD_2734c4f mck-c-disruptor1up__content Disruptor1Up_mck-c-disruptor1up__content--links__VV4lE mdc-u-grid-gutter-md"><a data-component="mdc-c-link" href="/featured-insights/china/speak-softly-make-tough-decisions-an-interview-with-alibaba-group-chairman" class="mdc-c-link-cta___NBQVi_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Read the article</span><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mck-link-arrow-right-icon"></span></a></div></div></div></div> <p>This is the subject of McKinsey’s most recent China Consumer Report, which is part of a series of comprehensive reports the firm has done on urban Chinese consumer behavior since 2005. Between May and July 2019, we surveyed 5,400 respondents from 44 cities, representing approximately 90 percent of China’s GDP and half of its population. We asked them about their spending patterns in 2018 versus the previous year and tracked their attitudes and expectations about products across a variety of categories. We also did deep dives into several different consumer segments to reveal deeper layers of insight. This year, we present five key consumer trends that companies need to know to help them formulate their operational strategies and stay competitive in one of the world’s most important markets (Exhibit 3). </p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 3</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/featured%20insights/china/china%20consumer%20report%202020%20the%20many%20faces%20of%20the%20chinese%20consumer/svgz-chinaconsumerreport-ex3.svgz?cq=50&cpy=Center"/><img alt="Tracking five consumer trends could help companies in China stay competitive." src="/~/media/mckinsey/featured%20insights/china/china%20consumer%20report%202020%20the%20many%20faces%20of%20the%20chinese%20consumer/svgz-chinaconsumerreport-ex3.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p><em>For a deeper dive on the findings</em>, <em>download the full report from which this article is extracted</em>, China consumer report 2020, <em>in <a href="/~/media/mckinsey/featured insights/china/china consumer report 2020 the many faces of the chinese consumer/china-consumer-report-2020-chinese.pdf">Chinese</a> (PDF<em>–</em>5.5MB) or in <a href="/~/media/mckinsey/featured insights/china/china consumer report 2020 the many faces of the chinese consumer/china-consumer-report-2020-vf.pdf">English</a> (PDF–4.0MB).</em> </p></div><div class="container-placeholder"></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-xl"><section role="contentinfo" data-layer-region="article-about-authors" class="mdc-u-grid mdc-u-grid-col-md-12 AboutAuthor_mck-c-about-author__nRJzu"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center"></h5><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-8 mck-u-links-inline mck-u-links-inline--secondary mdc-u-mt-5"><div><p><strong>Johnny Ho</strong> is a consultant in McKinsey’s Shanghai office, where <strong><a href="/sitecore/service/notfound.aspx?item=web%3a%7bcbc63b40-12e7-425b-9c68-30ba85e4acb4%7d%40en">Felix Poh</a></strong> is a 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href="/featured-insights/china/china-digital-consumer-trends-in-2019" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-china-0 { aspect-ratio: 16/9 }</style><img alt="China digital consumer trends in 2019" class="picture-uniqueKey-china-0" src="/~/media/mckinsey/featured%20insights/china/china%20digital%20consumer%20trends%20in%202019/china-digital-consumer-trends-5050-1536x1536.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Report</span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/featured-insights/china/china-digital-consumer-trends-in-2019" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>China digital consumer trends 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class="picture-uniqueKey-china-0" src="/~/media/mckinsey/industries/automotive%20and%20assembly/our%20insights/china%20auto%20consumer%20insights%202019/china-auto-consumers-insights-standard-1536x1536-700.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Report</span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/industries/automotive-and-assembly/our-insights/china-auto-consumer-insights-2019" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>China auto consumer insights 2019</div></a></h6></div></div></div></div></div></div></div></main></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"locale":"en","dictionary":{},"sitecoreContext":{"route":{"name":"China consumer report 2020 The many faces of the Chinese consumer","displayName":"China consumer report 2020 The many faces of the Chinese consumer","fields":null,"databaseName":"web","deviceId":"fe5d7fdf-89c0-4d99-9aa3-b5fbd009c9f3","itemId":"1ac3c165-f3cc-4556-9828-33c483f8c973","itemLanguage":"en","itemVersion":2,"layoutId":"ae753eb4-a035-40b4-83bf-4b4438df6742","templateId":"683910db-02ba-40ba-92e7-726c880160a9","templateName":"ArticleJSS","placeholders":{"jss-main":[{"uid":"232bb7e9-289f-492d-a916-2b6185e44a84","componentName":"ArticleTemplate","dataSource":"","fields":{"data":{"articleTemplate":{"title":{"jsonValue":{"value":"China consumer report 2020: The many faces of the Chinese consumer"}},"sEOTitle":{"value":"China consumers in 2020"},"description":{"jsonValue":{"value":"Five trends emerged in the latest research from our Chinese Consumer Survey, offering insight into what over 5,000 consumers in the region think about spending, brands, health, and more."}},"sEODescription":{"value":"Five trends emerged in our latest survey of over 5,000 China consumers, offering insight into what people in the region think about spending, brands, health, and more."},"displayDate":{"jsonValue":{"value":"2019-12-18T00:00:00Z"}},"body":{"value":"[[DownloadsSidebar]]\n\u003cp\u003e\u003cstrong\u003eChina\u0026rsquo;s slowing GDP\u003c/strong\u003e and the trade dispute with the United States have injected a cloud of uncertainty into the Chinese economy. Some observers have predicted that these developments will spell bad news for Chinese consumption, which has thus far been a powerhouse for economic growth.\u003c/p\u003e\n\u003cp\u003eOur research shows that they may not need to worry too much.\u003c/p\u003e\n\u003cp\u003eAlthough traditional drivers of China\u0026rsquo;s economy\u0026mdash;investment, exports, and manufacturing\u0026mdash;are struggling, the country\u0026rsquo;s consumers remain confident. After dipping in the second half of 2018, the Consumer Confidence Index hit a ten-year high earlier this year (Exhibit 1). \u003c/p\u003e\n[[Exhibit 1]]\n[[MostPopularArticles 5]]\n\u003cp\u003eConsumers in China are proving to be remarkably resilient and remain a powerful, transformative force not just in China but also across the globe. Although it\u0026rsquo;s likely the growth rate for consumer spending will be slightly lower in 2019 than in 2018, consumers continue to increase their spending by a considerable margin and are eager to pay for items with a strong value proposition. This year\u0026rsquo;s Singles Day (also referred to as Double 11), for instance, was record shattering. Total sales on all platforms were up 31 percent over last year and reached 410 billion renminbi ($58 billion), far more than Cyber Monday\u0026rsquo;s and Black Friday\u0026rsquo;s online sales combined.\u003c/p\u003e\n\u003cp\u003eThe overall pace at which Chinese consumption has grown is almost hard to imagine: just a decade ago, most urban Chinese had enough money to cover basic needs like food, clothes, and housing (92 percent had annual household disposable incomes of 140,000 renminbi or less). Today, half are living in relatively well-to-do households (annual disposable incomes of 140,000 renminbi to 300,000 renminbi) where they have ample funds for perks like regular meals out, beauty products, flat-screen TVs, and holiday travel (Exhibit 2) .\u003c/p\u003e\n[[Disruptor1Up dis2]]\n[[Exhibit 2]]\n\u003cp\u003eMost rural Chinese, on the other hand, remain relatively poorer; nearly all the growth has come from cities. These urban consumers are now the main driver of the Chinese economy, with their spending accounting for more than 60 percent of GDP growth.[[footnote 1]] And across the globe, Chinese consumer spending represented 31 percent of household consumption growth from 2010 to 2017.\u003c/p\u003e\n\u003cp\u003eNow, ten years into this expansion, consumer behavior is shifting, and we see a bifurcation among Chinese consumers. On one hand, a segment of consumers in lower-tier cities continues spending money freely without any worry about cost or saving for the future. Other consumers, though, mostly in large, expensive cities such as Beijing, Guangzhou, and Shanghai are responding to the dip in China\u0026rsquo;s economic growth and the increased cost of urban living by adjusting their attitudes and, in some cases, their spending.\u003c/p\u003e\n[[Disruptor1Up 1]]\n\u003cp\u003eThis is the subject of McKinsey\u0026rsquo;s most recent China Consumer Report, which is part of a series of comprehensive reports the firm has done on urban Chinese consumer behavior since 2005. Between May and July 2019, we surveyed 5,400 respondents from 44 cities, representing approximately 90 percent of China\u0026rsquo;s GDP and half of its population. We asked them about their spending patterns in 2018 versus the previous year and tracked their attitudes and expectations about products across a variety of categories. We also did deep dives into several different consumer segments to reveal deeper layers of insight. This year, we present five key consumer trends that companies need to know to help them formulate their operational strategies and stay competitive in one of the world\u0026rsquo;s most important markets (Exhibit 3). \u003c/p\u003e\n[[Exhibit 3]]\n\u003cp\u003e\u003cem\u003eFor a deeper dive on the findings\u003c/em\u003e, \u003cem\u003edownload the full report from which this article is extracted\u003c/em\u003e, China consumer report 2020, \u003cem\u003ein \u003ca href=\"/~/media/mckinsey/featured insights/china/china consumer report 2020 the many faces of the chinese consumer/china-consumer-report-2020-chinese.pdf\"\u003eChinese\u003c/a\u003e\u0026nbsp;(PDF\u003cem\u003e\u0026ndash;\u003c/em\u003e5.5MB) or in \u003ca href=\"/~/media/mckinsey/featured insights/china/china consumer report 2020 the many faces of the chinese consumer/china-consumer-report-2020-vf.pdf\"\u003eEnglish\u003c/a\u003e\u0026nbsp;(PDF\u0026ndash;4.0MB).\u003c/em\u003e \u003c/p\u003e"},"isFullScreenInteractive":{"boolValue":false},"hideStickySocialShareBar":{"boolValue":false},"desktopID":{"value":""},"mobileID":{"value":""},"desktopURL":{"value":""},"mobileURL":{"value":""},"desktopPaddingPercentage":{"value":""},"mobilePaddingPercentage":{"value":""},"desktopOverrideHeight":{"value":""},"mobileOverrideHeight":{"value":""},"cerosOembedURL":{"value":""},"cerosRenderMode":{"targetItem":null},"cerosBackgroundColor":{"targetItem":null},"hideByLine":{"boolValue":false},"tableOfContentsTitle":{"value":"TABLE OF CONTENTS"},"accessStatus":{"targetItem":{"key":{"value":"AllUsers"},"value":{"value":"All Users"}}},"articleType":{"targetItem":{"displayName":"Report"}},"hasSpecialReport":{"boolValue":false},"contentType":{"targetItem":{"displayName":"Article"}},"sourcePublication":{"targetItem":null},"externalPublication":{"value":" "},"mobileReady":{"boolValue":true},"forClientsOnly":{"boolValue":false},"excludeFromClientLink":{"boolValue":false},"originalPublishDate":{"jsonValue":{"value":"2019-12-18T21:14:00Z"}},"footnotes":{"value":"\u003col\u003e\n\u003cli\u003eIn 11 of the 16 quarters since 2015.\u003c/li\u003e\n\u003c/ol\u003e"},"contributoryPractice":{"targetItems":[]},"aboutTheAuthors":{"value":"\u003cp\u003e\u003cstrong\u003eJohnny Ho\u003c/strong\u003e is a consultant in McKinsey\u0026rsquo;s Shanghai office, where \u003cstrong\u003e\u003ca href=\"/sitecore/service/notfound.aspx?item=web%3a%7bcbc63b40-12e7-425b-9c68-30ba85e4acb4%7d%40en\"\u003eFelix Poh\u003c/a\u003e\u003c/strong\u003e is a partner; \u003cstrong\u003eJia Zhou\u003c/strong\u003e is an associate partner in the Beijing office; and \u003cstrong\u003e\u003ca href=\"/our-people/daniel-zipser\"\u003eDaniel Zipser\u003c/a\u003e\u003c/strong\u003e is a senior partner in the Shenzhen office.\u003c/p\u003e"},"authors":{"targetItems":[{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"AFB18BEFEA324F1FBC38984AAD004DD5","name":"Johnny Ho","authorTitle":{"value":"Johnny Ho"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"18C3805C25CF4114A49013C4E681AB12","name":"Felix Poh","authorTitle":{"value":"Felix Poh"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"5E901C858B06459E80A8C6A638503C98","name":"Jia Zhou","authorTitle":{"value":"Jia Zhou"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"8094FCF31BA840AE9E405DB5A09EF266","name":"Daniel Zipser","authorTitle":{"value":"Daniel 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