Where do tier-two and three consumers spend their money in China?
According to Nielsen, a leading global provider of information and insights into human behavior, the top four areas where tier-two and three consumers are spending their spare cash are: new clothing, dining out, education funds and into saving deposits. For 2013, these two tiers contributed to almost half of the total fast-moving consumer goods sales. Health and wellness related sectors maintained robust growth in 2013. A few cities with huge growth potential were chosen by Nielsen as examples of the so-called “emerging tier-one cities”, including Chongqing municipality and Suzhou, which are expected to become the powerhouses of China’s future economy.
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