China's major consumption trends in 2023
chinadaily.com.cn |
Updated: 2024-01-02 06:40
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China's consumer spending trends have seen a positive upturn as consumer spending contributed 83.2 percent to economic growth during the first three quarters of 2023, the Guangming Daily reported.
This surge in consumer activity marks an improvement in spending patterns, which have become more rational and individualized.
The young consumer group, who were born between 1995 and 2009, has emerged as a driving force in the consumer market. They are exploring diverse and personalized consumption styles, reshaping the market structure.
Let's have a look at the major consumption trend in 2023.
