Consumer Spending Habits - China

Developments in the country affect different consumer groups in a variety of ways. As a result, this has a bearing on the aspirations of different consumer groups, thereby influencing the changes in how they spend.

Table of Contents :

INTRODUCTION Definition Methodology Abbreviations

EXECUTIVE SUMMARY Key trends China’s economy shifts towards domestic consumption Figure 1: Percentage breakdown of total rural and urban household expenditure by type, 2011 Consumer spending changing as incomes grow Figure 2: Reasons for consumers spending more, by product and service category, February 2013 Consumer lfestyles and attitudes changing rapidly in response to massive economic and social change Figure 3: Percentage annual growth of total retail & wholesale trade and average urban wages, 2007-12 How consumer spending habits are changing Figure 4: Proportion of consumers spending more by sector, by monthly income group, February 2013 How consumers feel their lifestyles are changing Figure 5: Changes in lifestyle habits, February 2013 How the retail industry is changing to meet new consumer needs Figure 6: Consumer attitudes towards shopping, February 2013

CHINA’S ECONOMY SHIFTS TOWARDS DOMESTIC CONSUMPTION Key points Continued consumer spending growth despite economic slowdown Figure 7: China retail sales significance within GDP, at current prices, 2007-12 Figure 8: China consumer confidence index, December 2007-December 2012 Figure 9: China national retail price index by sector. December 2007-December 2012 Rapid consumer income growth drives rising expenditure Figure 10: China average annual per capita incomes in urban areas, by monthly income group, 2006-11 Figure 11: Value of urban and rural consumer expenditure by type, 2008-11 Figure 12: Changing level of spending habits, February 2013 Figure 13: Reasons for spending more, February 2013 Consumer savings and home ownership Figure 14: Total wholesale & retail trade value, average urban wages and total household savings deposits, 2007-12 Figure 15: Changes in savings habits, February 2013 What it means

CONSUMER SPENDING CHANGING AS INCOMES GROW Key points The growing size of China’s middle class Figure 16: Defining the middle class in China, 1999-2015 Figure 17: Defining the middle class in China, 1999-2015 (continued) A trend towards nesting Figure 18: Ownership of major durable consumer goods within urban households at year-end, 2005-11 Figure 19: Ownership of major durable consumer goods in rural households at year-end, 2005-11 A strong feel-good factor helps raise spending Figure 20: Sectors in which people have spent more compared to this time last year, by gender and age group, February 2013 Figure 21: Sectors in which people have spent more compared to this time last year, by monthly income group, February 2013 Is increased spending really “feel-good”, or is it inflation? Figure 22: Reasons for spending more, February 2013 Figure 23: Reasons for spending more, by gender and age group, February 2013 Figure 24: Reasons for spending more, by monthly income group, February 2013 The frugality flipside Figure 25: Reasons for spending less, February 2013 What it means

CONSUMER LIFESTYLES AND ATTITUDES CHANGING RAPIDLY IN RESPONSE TO MASSIVE ECONOMIC AND SOCIAL CHANGES Key points Rapid economic growth sustains rapid lifestyle changes Figure 26: Total wholesale & retail trade value and average urban wages, 2007-12 The fundamental change in the retail landscape Figure 27: Total supermarket/hypermarket outlets, floor space, staff and retail sales, 2007-11 A rapidly aging population changing social dynamics Figure 28: The population of the over-60s in China, 2000, 2005, 2010 and 2015 Gender imbalance skews social relationships Figure 29: Decline in birth rate and increase in gender imbalance over 20 years, 1992-2011 Wealth distribution gap becoming a crucible for social unrest Taxation and other cost commitments Figure 30: China income tax rate by monthly income bracket, 2013 Household structures and set-up costs Figure 31: Total, urban and rural average household sizes, 2002-11 Figure 32: % annual growth in total registered and new marriages, 2002-11 Figure 33: Index of residential housing, rental and utilities prices, 2002-11 Figure 34: Changing level of spending habits, by marital status, February 2013 Figure 35: Reasons for spending more, by marital status and children in household, February 2013 What it means

HOW CONSUMERS’ SPENDING HABITS ARE CHANGING Key points Education levels correlate to different spending patterns Figure 36: Changing level of spending habits, by education level, February 2013 Figure 37: Type of degree intended for child, July 2012 Figure 38: Consumer shopping behaviour, by education level, February 2013 Changing imperatives across the generations Figure 39: Sectors in which people spent more, by gender and age group, February 2013 Figure 40: Consumer shopping behaviour, by gender and age group, February 2013 Diversity of lifestyles, diversity of consumers Figure 41: Changing level of spending habits, spending more, by region, February 2013 Figure 42: Changing level of spending habits, spending about the same, by region, February 2013 Figure 43: Changing level of spending habits, spending more, by city tier, February 2013 Figure 44: To treat myself as reason for spending more, by region, February 2013 Figure 45: Prices have increased as reason for spending more, by region, February 2013 What it means

HOW CONSUMERS FEEL THEIR LIFESTYLES ARE CHANGING Key points Things are generally feeling better for China’s consumers Figure 46: Changes in lifestyle habits, February 2013 Figure 47: Changes in lifestyle habits, by gender and age group, February 2013 Figure 48: Changes in lifestyle habits, by monthly income group, February 2013 Figure 49: Changes in lifestyle habits, by city, February 2013 Changing consumer lifestyle perceptions manifest differently with each sector of spending Figure 50: Spending changes by sector, by consumers feeling they have healthier lifestyles, February 2013 Figure 51: Spending changes by sector, by consumers feeling they buy more treats for themselves, February 2013 Figure 52: Spending changes by sector, by consumers feeling they are environmentally-friendly, February 2013 Figure 53: Spending changes by sector, by consumers feeling they are looking for more ways to save or invest money, February 2013 Figure 54: Spending changes by sector, by consumers feeling they are spending more time with family, February 2013 Figure 55: Spending changes by sector, by consumers feeling they are spending money more cautiously, February 2013 Figure 56: Spending changes by sector, by consumers feeling they are cooking at home more often, February 2013 Figure 57: Spending changes by sector, by consumers feeling they are doing more free-time activities, February 2013 Figure 58: Spending changes by sector, by consumers feeling they are entertaining out more than at home, February 2013 Figure 59: Spending changes by sector, by consumers feeling they are putting more money into savings, February 2013 Figure 60: Spending changes by sector, by consumers feeling they are working longer hours, February 2013 Figure 61: Spending changes by sector, by consumers feeling they are going on fewer holidays, February 2013 Figure 62: Spending changes by sector, by consumers feeling they are taking more frequent, shorter holidays rather than fewer longer ones, February 2013 Figure 63: Spending changes by sector, by consumers feeling they are doing more home maintenance themselves instead of hiring a professional, February 2013 Figure 64: Spending changes by sector, by consumers feeling they are taking more holidays abroad instead of travelling closer to home, February 2013 Better diets, more food scares and greater consumer awareness of consumption issues Figure 65: Consumer likelihood of checking packaging information and labelling, March 2012 Figure 66: Categories of “organic” food ever bought in the last 12 months, March 2012 Figure 67: Is “organic” and “green” worth paying more for?, March 2012 Figure 68: How likely are you to pay a premium price for fair trade, March 2012 What it means

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