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One part of China's consumer market is holding up against a broad slowdown

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Segments of China’s consumer market have seen resilient spending this summer.

Definitions of middle class can vary by country. In China, McKinsey Global Institute estimates the upper-middle class earns an annual income of more than 160,000 yuan .

"Media spending is between 10% to 20% down versus last year, and last year was not a good year because last year was down versus the year before," he said."So you have a kind of a double decrease. That's across the board." Within the limit of 3,800 items per store, the warehouses stock a large variety of seafood, Chinese"baijiu" alcohol and truffle soy sauce, said Susan Schwartz.

 

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One part of China’s consumer market is holding up against a broad declineSegments of China's consumer market have seen resilient spending this summer.
Source: CNBC - 🏆 12. / 72 Read more »