China’s wealthy description. Descripción de la riqueza China

China will soon be home to the world’s fourth-largest population of wealthy households. Companies that hope to reach them must understand how they differ from their counterparts elsewhere.

Talking about wealthy consumers in China may seem odd during the middle of a global economic crisis. Despite the global downturn, the number of wealthy households in China continues to grow. By 2015, the country will hold the world’s fourth-largest concentration of wealthy people. Companies that better understand the factors behind their purchases could steal a march on the competition. A McKinsey research shows that their behavior is very different from that of their counterparts in other countries and of consumers in other income classes inside China. The wealthy Chinese households, with an average annual income of about $80,000, represented the top 1 percent of earners in China’s cities.

Source: McKinsey Marketing & Sales Practice Yuval Atsmon and Vinay Dixit