Middle Class in China Triples in Size
China's middle class is defined as:
1. those whose annual income ranges from $7,500 to $25,000
2. aged from 20 to 49
3. double-income couples with no kids (DINKs).
4. "Modern women" – those with a university degree or above, a professional job and financial independence.
China expects the size of the group to triple to nearly 100 million within the next
10 years.
The middle class is different – spenders instead of savers. They are also investors.
For those who make $25,000-$50,000, 73% of disposable income is discretionary spending.
For the middle class discretionary spending is 30% of their income.
The 'modern woman' – 85% have purchased some luxury good, compared to 76% of the middle class and 75% of DINKs.
Two out of three modern women have traveled overseas. Less than half (46%) of middle class have made the trip. DINKs have sent 52% of their bunch overseas.
What's 100 million times $25,000 x 50% for discretionary spending?
What do you want to sell to the Chinese middle class?
Leave a comment!