Business leaders with a mandate to create growth strategies, drive innovation, and allocate scarce resources across markets have told us they would value an objective perspective on future shifts in consumer demand around the world. This knowledge is equally vital to international, national and regional government leaders tasked with aligning economic policies and stimulus programs to their population’s evolving needs and desires. We have designed The Demand Institute to provide an objective, non-partisan perspective on where consumer demand is headed tomorrow—and what it means for leaders today.Read More
Chinese Consumers and Their Shifting Demand for Financial Services
Over the past several decades, China has brought hundreds of millions of citizens out of poverty and created a thriving consumer class that has made it the second-largest consumer market in the world in aggregate terms. But, on a per-capita basis, consumption is a fraction of the level in mature economies. A Wealth of Opportunity: Chinese Consumers and Their Shifting Demand for Financial Services finds vast untapped demand among Chinese consumers for household financial services products such as deposit accounts, credit cards, and debit cards. It identifies two scenarios for how growth in Chinese financial services could accelerate consumption. Under the most likely scenario, expanded access will add $650 billion to Chinese consumption over the next decade, but it could be as much as $950 billion.
Driving Growth of New Energy Vehicles
China is the world's largest automotive market with more than 21 million sales in 2015. At the same time, many cities are experiencing high levels of pollution, and the central government's most recent 5-year plan emphasizes the importance of green energy, including new energy vehicles. Sales of new energy vehicles are growing quickly but still represent a small portion of the market. In this report, we show there is strong interest in new energy vehicles among Chinese consumers, particularly among the Connected Spenders. These consumers will account for the majority of consumption in China over the next decade, and their unique preferences will drive demand for new energy vehicles as well. We summarize those dynamics and discuss the implications for the auto industry.
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