Consumer Goods and Retail Report China 1st Quarter
The Economist Intelligence Unit, January 2013, Pages: 19
The fastest growth in sales of consumer goods in China in the forecast period will occur in poorer third- and fourth-tier cities. In these provinces vast numbers of people will begin to have money to spend on consumer goods, rather than on just necessities, as their disposable incomes rise rapidly in 2013-17.
Foreign access in the retail sector, and in consumer-goods manufacturing, will be better than in many other parts of China's economy. Recent acquisitions of a number of Chinese household-goods brands by foreign firms suggest that the government may be less hostile to such takeovers than in the past, even as it encourages the development of local competitors.
The ongoing expansion in China of luxury-goods firms signals that China will drive global growth in the luxury sector in the forecast period. The luxury market will become increasingly split between top-end consumers, favouring brands perceived to be discreet and niche, and those on lower incomes that still see conspicuously-branded items as a marker of middle-class status.
Industry List: Consumer Goods, Consumer Goods, Consumer products, Retail trade, Consumer Goods, Food, beverages and tobacco, Retail trade, Consumer Goods, Retail trade, Consumer Goods, Retail trade, Retailing
Industry Codes (NAIC): 44
Industry Codes (SIC): 53;53;59
Consumer Goods and Retail Report China 1st Quarter
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