Mintel report reveals shifting spending habits in China
Chinese consumers are cautious about spending but increasingly interested in travel, according to a Mintel report released on July 10. Nearly half of those aged 18 to 59 prioritize travel and holidays over food and clothing, with travel topping the list for disposable income use. Despite ongoing financial caution, demand for quality lifestyles remains high. Consumers plan to spend more on travel, food, and clothing, avoiding other categories like entertainment and tech products. Financial recovery is slow, with 85% saving money monthly, below pre-pandemic levels. Travelers favor cheaper, less-known destinations due to poor income expectations.