Summary of What Does China’s Middle Class Want?

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What Does China’s Middle Class Want? summary

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Experts predict that by 2030, one-third of the Chinese population will be part of the middle class. Members of this group are determined to make the most of their lives. What will motivate them, and what challenges stand in their way? Li Jing, a former Baidu vice president and marketing expert now known as Professor Li, explores why the young people who make up China’s new middle class fail to live up to their own expectations. He also explains how businesses can take advantage of this group’s ambitions to tap this vast and growing market. getAbstract recommends Professor Li’s article to anyone interested in marketing, product design and consumer behavior. 

In this summary, you will learn

  • What kind of lifestyle China’s new middle class seeks,
  • What challenges prevent them from living the life they aspire to live, and
  • How businesses can win over this growing socioeconomic class by building products and services that address their typical anxieties.
 

About the Author

Li Jing is a former vice president of Baidu and a marketing consultant, who now runs the marketing- and strategy-focused WeChat wemedia account known as Professor Li.

 

Summary

Experts predict that by 2030, one-third of the Chinese population will be part of the middle class, which will drive the transformation of the country’s consumption habits. Those born in the 1980s and 1990s dominate this group. What products and services will they want and need? The frugal, task-oriented older generation mainly worried about having enough money to care for their families. In contrast, the fear of missing out or not being able to live a spectacular life drives the younger, experience-oriented generation. To woo China’s new middle class, businesses must offer solutions that alleviate this generation’s fears and move young people closer to the life they envision. To win them over, offer products and services that target four typical obstacles middle-class youngsters face on their way to realizing their dreams: