As China undergoes a rapid economic transformation, the consumer market is undergoing some profound changes, says Young & Rubicam Global Planning Director Sandy Thompson in a new video interview with Thoughtful China.
According to Rubicam, as middle class incomes rise, consumers are becoming more focused on the concept of "earned" wealth, a factor which is closely linked to netizens' harsh criticisms of anyone perceived to be showing off wealth that they didn't earn.
She says this is also affecting their travel habits, which are becoming much more focused on unique experiences. "It's the whole notion of having an adventure, it's not just about arriving someplace... it's about what you do when you're there: the experiences that you have, the products that you try, the places that you go." In Thompson's view, there's "much more depth" to Chinese travel planning today, which "goes back to earning something. You earned that vacation, so you're going to make sure that you know and experience absolutely everything that you can along the way."
Watch the video embedded above to see the entire interview.