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China’s new consumption patterns

Date

20 Nov 2014

Address

Madariaga - College of Europe Foundation
Avenue de la Joyeuse Entrée, 14/2
1040  Brussels
Belgium

Event Location

Brussels

Event Description

China is expected to account for about 20 percent of global luxury sales in 2015, and in less than a decade, more than three-fourths of China’s urban households will approach middle-class status on a purchasing-power-parity basis. Over the last three decades of economic reforms and opening, collectivism and egalitarianism have slowly given way to a stress on individuals both at ideological and broader social levels. The dynamics of the relationship between the state and markets have been shaping specific patterns of desires and consumption in post-Mao China. The Chinese way of life is changing rapidly but significant economic and demographic differences across China persist.

Consumer empowerment and activism are on the rise, e-commerce and social media platforms play an increasingly crucial role, while president Xi Jinping has launched “luxury and anti-extravagance” campaigns as part of the fight against corruption. Many of the following trends are typical of rapidly industrialising countries: rising incomes, urban living, better education, postponed life stages, and greater mobility. However, other factors, such as the one child policy and marked economic imbalances between regions, make China a case for itself.

How are class and social stratification related to consumption practices and patterns? Which are the economic, societal, and demographic changes that are shaping Chinese consumer profiles and spending habits?

It is indeed key that European companies, and all actors concerned, understand the challenges ahead, in order to be able to seize the opportunities offered by China’s demographic and socio-economic transition.

The workshop program presents a mix of plenary and interactive sessions with experts from different backgrounds (academic, industry) who will share their views and knowledge on the evolution of consumption practices in China. The workshop will offer a comprehensive sociological and market oriented analysis of recent and future developments of Chinese consumers habits.

This workshop is organised by the Madariaga-College of Europe Foundation, the Confucius Institute at the University of Liège, Interface Entreprises-Université de Liège and Awex.

The event will be held in English.

Participation fee: 50 euros - Your subscription will be considered firm after payment receipt

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