China Gen Z’s ‘Self-Rewarding Economy’ Means Saving More And Indulging Occasionally
What Happened: In the wake of rising economic uncertainty and China’s recent COVID woes, more and more Chinese consumers are looking to save rather than spend. According to the latest “2023 McKinsey China Consumer Report,” 58 percent of urban households in China plan to “put money away for a rainy” day — the highest since 2014, … Read more