"The biggest opportunity for western companies in China is to "seduce the farmer" — the growing middle classes."
"China's middle class population is the biggest in the world."
Since 1978, when China opened its industrial gates for the world, the economy started to take a positive turn and everything started to improve from that moment. A small part of the population got rich very fast and they were the only luxury consumer for a while. The middle class was almost nonexistent so the products were either addressed to the low class or to the elite.
The project is an in depth research into the evolution of the chinese middle class and explains how valuable this social category will become in the next years. China has more billionaires than America so the presence of so many luxury brands is justified. However, the middle class consumers altogether will spend more than the billionaires until 2022.Their incomes are increasing and more and more customers shift their spending habits from mass products to premium ones. Furthermore, the way that consumers are spending this extra income is starting to change shifting from conspicuous consumption to inconspicuousness, as the population gets more sophisticated and pays more attention on uniqueness. Therefore, the real opportunity is for premium brands who manage to offer good quality and affordable price.