China's economy sees new pockets of growth in rising shopping trends

China's economy sees new pockets of growth in rising shopping trends
CNBC
4 hrs ago
Evelyn Cheng
Chinese brands were able to adapt more quickly to local trends than foreign brands last year, according to the latest "China Shopper Report" from Bain & Company and Kantar Worldpanel.
People living in smaller cities were also more willing to spend last year than those living in large ones, the report said.
However, Chinese consumers overall are more price sensitive than before, the analysis found.
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A customer eyes the beverage section in a supermarket on June 9, 2021 in Handan, Hebei province.
BEIJING — Chinese consumers spent less on daily necessities from foreign brands last year during the coronavirus pandemic, while those in smaller cities were more willing to spend than those in large ones, according to a report.

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