Aside from big growth trends such as ongoing urbanization, and the life style changes that come with it, there are also cultural factors further fueled by the one child policy such as the idea that “only the best is good enough”.
Regarding food, for example, “consumers are increasingly health conscious and looking for natural, minimally-processed foods, and the stakes are even higher when it comes to their babies”.
Another important field is the one of education and culture: Chinese families give much importance to the education of their children and invest important sums of money in it. A family’s spending for their children’s education is second only to their spending for food.
Many factors contribute to the rapidly increased family spending on education. “Making sure my kid gets the best possible start” is one of them, as witnessed by the high spending in all grades, starting from pre-school education.
In recent years, going abroad to study has become a trend among young Chinese. Chinese parents believe there are several advantages to their children’s going abroad to study, getting direct exposure to foreign languages and culture may be the most important one.
In conclusion, there is tremendous potential waiting to be developed, whether local or international brands, renowned manufacturers or emerging small workshops, providers of services, everyone will have a chance to find space in this booming market.
ENMARK (Shanghai) Co. Ltd. / 恩唛（上海）有限公司
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