BEIJING—A notable transformation in China's consumer behavior is reshaping the nation's economic landscape, with buyers increasingly prioritizing value-for-money products amid evolving market dynamics, according to insights shared at the Boao Forum for Asia Annual Conference 2025.
Rethinking Consumption Priorities
Denis Depoux, Global Managing Director of consultancy Roland Berger, told CGTN that Chinese consumers are becoming more selective, favoring affordability and quality over prestige. "This shift reflects both economic pragmatism and heightened competition among businesses," he noted, emphasizing that companies must innovate to retain market share.
Broader Economic Implications
The trend aligns with China's evolving growth strategies, including policies to boost domestic demand. Analysts suggest this consumer pivot could accelerate advancements in supply chain efficiency and sustainable industries. Sectors like budget-friendly tech, green energy products, and locally sourced goods are seeing accelerated growth, offering fresh opportunities for investors and entrepreneurs eyeing Asia's largest consumer market.
As cross-border travel resumes, observers note that purchasing habits among the Chinese mainland's middle class may also influence trends across Asia, particularly in tourism-dependent economies.
