Content library
Editor's opinion
Insider's Insights
Business Review
Collecting and collectables
Fashion and accessories
Home and interiors
Luxury cars
Luxury hotels
Luxury yachts and Private jets
The travelling Chinese
Watches and jewellery
City Report
Sector Focus
Brands & Management
Tan Lun
Special Reports
Target consumer groups
McKinsey has in recent years, produced two reports evaluating the consumer market in China, one in 2010 considered luxury consumers in particular, and one in 2011 focused on the growth of the middle and affluent class. In our model, we use base data from both reports to estimate the number and split of households by income and to allocate potential spending patterns for these consumer groups.
The estimated split of the three household income groups over a 10-year period is therefore shown below by number of homes by income group and year. ….
The full article content is only available to Luxury Insights China subscribers.