Visitors fill an official Detective Conan-themed coffee shop in a shopping mall in Shanghai, China, on Thursday May 13, 2021.Investors are betting on an emerging generation of spenders in China – about 250 million people known as Generation Z, roughly equal to 75% of the U.S. population.
Born between 1995 and 2009, these young people are among the wealthiest and highest-income groups in China, according to Asian investment firm CLSA. This generation will likely spend most on housing, food and beverage, and leisure-related categories, the firm said.. But investment firm China Renaissance said Gen Z is the group to focus on for those who want to cash in on opportunities in China's economy.
Investors can get a more direct understanding of high-growth consumer trends by looking at Gen Z's spending habits, said Charlie Chen, the firm's head of consumer research. "Because the aging population's consumption habits are the same as when they were young, the market has already become familiar with them," he said in a Chinese statement translated by CNBC.
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