Chinese Consumer Trends in 2020

Abstract

This article aims to explain Chinese consumer trends that are likely to occur in 2020 and proposes guidelines for businesses that are interested in the Chinese consumer market. It contains three main parts. The first part is about factors shaping Chinese consumer trends in 2020 which included three important ones namely, the Thirteenth National Economic and Social Development Plan (2016-2020), demographic changes, and digital life. The second part involves Chinese consumer behavior in 2020 which pointed out four main Chinese consumer groups namely, mainstream consumers, aging population, single people, and mothers and children, as well as indicating some important Chinese consumer behavior trends such as increasing in buying luxury products and life styles, more health-conscious, online shopping, and looking for goods and services that delivered value for money. The third part provides some guidelines for entering the Chinese consumer market successfully. This article is helpful for interested businesses as it contributes a better understanding of Chinese consumer trends in 2020.