The affluent will be a powerful force behind the growth of China's consumer market and account for 5 percent of global consumption by 2020, according to a new report released today by The Boston Consulting Group.
The report, titled The Age of the Affluent: The Dynamics of China's Next Consumption Engine, discusses the rapid rise and significance of this consumer class.
Much attention has been paid to China's middle-class and high-net-worth individuals. But the affluent—richer than members of the middle class but not as wealthy as the superrich—have spending habits and attitudes that are distinct.
With annual household disposable incomes of at least $20,000, these consumers are set to become an important driver of growth, especially for premium product and service categories.
A copy of the report can be downloaded at
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