Chinese consumers throng a Costco Wholesale store in Shanghai during the first week of its opening in August last year. The coronavirus pandemic has dented Chinese consumers’ appetite for higher priced goods. Photo: EPA-EFE
China’s consumption upgrade hits coronavirus hurdle as consumers want more bang for their buck amid slowdown
- Spending on fast-moving consumer goods in the mainland fell 6.7 per cent in the first quarter, the biggest decline on record, study shows
- Kantar’s list of the world’s 100 most valuable brands in 2020 includes Alibaba and Tencent
Chinese consumers throng a Costco Wholesale store in Shanghai during the first week of its opening in August last year. The coronavirus pandemic has dented Chinese consumers’ appetite for higher priced goods. Photo: EPA-EFE
