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The growing Chinese affluent class

The basis of this model was the growing affluent population in China and their ability to spend money on home furnishing as a result of either moving home or replacement of their current furniture. The base data for this model was taken from McKinsey’s estimation of the size and total number of affluent people in China between 2010 and 2020. This group included households with a total income of $34,000 or approximately 200,000 RMB and above. This group of individuals were used as a base line because even the lowest income levels within the purchase class they could potentially purchase at least one piece of modern European furniture. ….

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