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In 2011, we tried our hand at predicting the ways in which, in the decade to come, Chinese consumers would change their preferences and behaviors. This article takes stock of those predictions.
Why check in now. Another is a comprehensive new McKinsey survey, which follows nearly ten years of previous research that includes interviews with more than 60,000 people in upward of 60 cities in China. Deeper and more nuanced understanding of Chinese consumers can help reveal fresh opportunitiesfor new entrants and incumbents alikeand signal those areas where established players may need to be more wary.
While geographic differences persist, Chinese consumers are, on the whole, more individualistic, more willing to pay for nonnecessities and discretionary items, more brand loyal, and more willing to trade up to more expensive purchaseseven as their hallmark pragmatism endures.
Just as it was then, generalizing about Chinese consumers continues to be almost as difficult (and maybe as foolish) as it is to generalize about European consumers. We predicted these differences would remainand even grow more significant, especially in the consumption patterns and tastes that relate to discretionary items.
To help companies better tailor their go-to-market approach, we grouped most cities in China into clusters based on their similarities, including their geographic proximity and the transportation infrastructure that connects them. Furthermore, when our latest survey compared the consumers in the Shanghai area to those around Beijing and Hangzhou, certain spending attitudes also showed marked differences.
For example, brand loyalty increased much faster in Shanghai (24 percent increase in three years versus just 7 percent in Beijing and 9 percent in Hangzhou), as did the willingness to pay for better or healthier products. Despite geographic differences, there are broad similarities among Chinese consumers.
These mirror the general trends economists have found among consumers around the world as economies develop.
The general tendency is for consumers, as they earn more, to spend a lower percentage of their income on food, a little more on healthcare, and even more on travel and transportation, as well as on recreational activities. It was no great stretch then, in our report five years ago, to predict a significant shift in consumption from necessities and seminecessities into discretionary categories. Sure enough, our new survey shows Chinese consumers following the anticipated pattern.
When we asked how they plan to increase spending as their income increases, dramatically fewer consumers said they will increase it on food (46 percent in the latest survey, compared to the 76 percent who said they would do so three years earlier). Responses trended slightly up for healthcare products (from 16 percent to 17 percent), and increased for travel (from 14 percent to 23 percent) and leisure (from 17 percent to 25 percent). In our previous predictions, we also argued that as the income of Chinese consumers grew, they would aspire to improve their quality of life by not only spending more on discretionary items, but also by shifting their spending to more expensive items in the same categories.
In necessity categories such as food, for example, we predicted consumers would be willing to spend more for healthier versions of the same productsfor instance, that olive oil would grow much faster than less healthy (and less expensive) oils. In seminecessity categories like apparel, we predicted people would buy more special-occasion and premium brands. We anticipated that the strongest beneficiaries of these changes would be in the more discretionary and aspirational categories, such as skincare and automotive.
So what has happened so far. Premium categories have really accelerated. Comparing cosmetics purchases between 2011 and 2015, 44 percent of consumers have traded up their purchases, compared with 4 percent who traded down.
Even for rice, 25 percent of consumers traded up versus 3 percent who traded down. Automotive was not included in our survey, but sales data from the Traffic Management Bureau of the Ministry of Public Security in China suggest significant trading up.
In 2011, 51 percent of the renminbi spent on cars by Chinese consumers were for autos cheaper than 100,000 RMB. These sales accounted for only 43 percent of the market. Cars selling for 100,000 to 250,000 RMB grew twice as fast with a compound annual growth rate (CAGR) of 19 percent versus 9 percent.COM is part of Bleacher Report - Turner Sports Network, part of the Turner Sports and Entertainment Network. Read this wikiHow to learn more. Hands off your face.
Avoid touching your face and popping those pimples. Go makeup free for a while. Give your face a chance to breathe. Wash your face twice daily. Use moisturizer and toner each time after you wash. Skip the sweets and junk food. Eat more fruits and veggies instead. Drink lots of water. Reduce the stress and try get around 10 to 11 hours of sleep. Treat your acne with benzoyl peroxide or salicylic acid. Seek a dermatologist's advice.
This is the number one rule. Pimples contain nasty bacteria.
If you pop your pimples, that bacteria has a chance of getting inside other pores and giving them a place to stay without charging rent, so to speak.
Make sure your pimples pay rent. Foundation and lipstick can be harmful to the skin. Although it may be a bit embarrassing going fresh faced if you have bad skin, going "bare" will definitely help your skin clear up.
Inflammation will cause even more redness and pain. Your hands (no matter how many times you wash them) have oils and dirt on them, and are vectors for bacteria. If you're constantly wiping that dirt, oil, and bacteria back onto your face, chances are it's not going to respond too well and you will also end up spreading even more the bacteria to other areas of your face.
Many doctors recommend that you drink between 9 and 12 cups of water per day (2. Although the evidence has been disputed for decades, new reports seem to indicate that diets do have a substantial effect on acne, listing sugar as a trigger.
Milk, too, has recently been implicated as an acne-producing agent. Milk stimulates male sex hormones testosterone and androgens that, along with insulin, cause nasty pimples.
For a healthy alternative to water, brew some tasty and healthy green tea. Diet can help your complexion look its best if you let it. There's nothing amazing about the following sentence, and you can probably guess what it's going to be: eat more fruits and vegetables, more healthy fats, and experiment with probiotics WH.
There's fat, and then there's healthy fat. Healthy fats, like omega-3s, help fight inflammation and promote healthy cells. In a pinch, baked or broiled is better than boiling or fried. Foods rich in omega-3s include: Fish, particularly salmon, sardines, and herring. Probiotics are healthy bacteria found in certain foods, such as kombucha, that promote good digestive health and cut down inflammation.Web Design Express has evolved in a very positive way through the years.
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Offshore books were taking business away from the Nevada casinos. But the Nevada desert was still a powerful allure for men (and a few women) with fool-proof systems and a yearning to live like a wise guy. Millman portrays the Las Vegas gambling lives of three man in great detail. Rodney Bosnich, wise guy in training, a recent arrival from small-town Indiana, has a smaller bankroll but no less ambition that the established Vegas bettors.
On the other hand, Joe Lupo despises the wise guys. Wise guys take up space in his head every waking moment of every day as he carefully crafts each Opening Line of every game. Before we go any further, it needs to be mentioned that I have bet on college basketball games. Alan put low five figures on New Orleans plus-9. The game looks good so he gets some money down early. Then it moves his direction and he puts a little more down.
Readers looking for a moral tome on the evils of the gambling life will need to look elsewhere.TEST FOR WORKABILITY OF CONCRETE - SLUMP CONE
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The Hollywood Sign is a trademark and intellectual property of Hollywood Chamber of Commerce. Buying Back 'I Love You, Daddy' Following Scandal 6 Quentin Tarantino's 'Star Trek' Will Be R-Rated: 'The Revenant's Mark L. Discover midnight movie origins A down on his luck man gets into an absurd but high stakes bet where he has one summer to find, and hook up with, every girl he had a crush on from 1st to 12th grade.
A friend of mine told me about this one giving me a head's up about the content, so I knew going in it was going to be raunchy, so I watched with an open mind. I have to say, I thoroughly enjoyed watching The Bet. I laughed, I blushed, I rolled my eyes shaking my head (boys will be boys). I warn that it is not for the weak of heart or for hard-core politically correct tight asses. I also enjoyed the cameo appearances and the cast as a whole, good chemistry between the actors. I found myself rooting for the hero (though officially offended as a female - wink wink).
Paul Scheer discusses The Disaster Artist and his love of awesomely bad movies. Plus, we dive into the origins of midnight movies and explore how The Room became a cult classic. Watch nowFind showtimes, watch trailers, browse photos, track your Watchlist and rate your favorite movies and TV shows on your phone or tablet. Some parts of this page won't work property. Please reload or try later. Error Please try again. Use the HTML below.
You must be a registered user to use the IMDb rating plugin. Add the first question. Online sportsbook reviews serve an important role in the sports betting industry, most importantly for bettors themselves, and credible sports information websites are obliged to produce objective consumer reports on these gambling sites. Because there are rules and regulations that need to be followed in order to protect customers, and the unfortunate reality is there are a wide range of reputations out there from good to bad with mediocre somewhere in between.
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As a staff reporter at AdExchanger, Alison covers advertising agencies and the digital audio landscape. Previously a copywriter at MarketSmiths, she has written digital marketing copy and produced campaigns across multiple verticals. Prior to that Alison worked in editorial at award-winning travel journalism site Fathom. She has a B. Scott Galloway, Founder, L2 The Marketer In The Year Ahead Louis Paskalis, SVP, Customer Engagement and Investment, Bank of America, takes the stage to discuss the year ahead and what's most important when it comes to the nexus of marketing and technology.
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