Young Chinese in small towns to power digital consumption growth: report

2019-10-08 03:32:38 GMT2019-10-08 11:32:38(Beijing Time) Xinhua English

BEIJING, Oct. 8 (Xinhua) -- Young consumers in China's small towns or lower-tier cities will likely power the country's digital consumption growth, according to a report by consultancy McKinsey & Company.

The proportion of young Chinese shopping online in lower-tier cities is almost on par with that in first-tier cities such as Beijing and Shanghai, the consultancy said, citing a recent survey.

As some luxury brands have not yet opened brick-and-mortar stores in small towns and lower-tier cities, consumers in these areas are more likely to buy luxuries online than their counterparts in big cities, the report said.

Compared with big-city consumers, young Chinese in small towns usually have lower costs of living and more time to spend.

China has a 1.5-trillion-U.S. dollar e-commerce market, making it one of the most attractive market for global retailers, the report said.

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