China’s economy may get a much-needed boost from one powerful demo: their rule-breaking Millennials. Nearly a third expect to make more money in the next five years, and they’re planning to spend some of it on big-ticket items. Seven in ten said they’ll increase their spend on luxury products and services, according to a KPMG China and Mei.com survey of mainland Chinese consumers born after 1985. The report concludes that Chinese Millennials are “set to disrupt China’s retail sector as their spending increases” and will “become a key component of China’s retail sector.” (WARC)
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