China’s new consumers have become more emotional-McKinsey

China’s emerging consumer class is more emotional than previous generations of shoppers and firms must shift their marketing strategies to keep pace with the nation’s new standard setters, consultants at McKinsey said in a new report on Tuesday.

More self-indulgent, individualistic and brand loyal than before, China’s mainstream consumer class will comprise 400 million people with incomes above 106,000 yuan (US$16,800) by 2020, polarising the market as they replace a more modestly monied urban population still focused on buying life’s basics.

via Business feed http://www.scmp.com/business/china-business/article/1046992/china%E2%80%99s-new-consumers-have-become-more-emotional-mckinsey