| China's
youth population holds the answer to future consumption patterns
- 16 Dec 2004
Author: Louise Nicholas
After
25 years of the "one child policy", China's population
is en route to stabilisation, with annual growth rates forecast
to drop from 1.3% between 1980 and 2000, to 0.6% over the
coming two decades. But despite this fall in numbers, China's
youth generation alone, which is expected to hit 560 million
in 2005, exceeds the entire population of most countries in
the world and is the core demographic influencing China's
future consumption patterns.
According
to new research from Euromonitor International, University
graduates are the key emerging economic force within China's
"youth generation", which includes all those aged
between 0 and 29 years old. This graduate segment of the population
has been rapidly expanding since 2000, thanks to state efforts
to increase enrolment at Universities. By the end of 2004,
2.8 million students will graduate from institutions of higher
education, more than twice as many as in 2002 and Euromonitor
expects this number to rise to 3.2 million in 2005.
Research
by Euromonitor suggests that university graduates can be typically
characterised by their spending habits - unlike older generations,
well-educated young Chinese people are far less inclined to
save as, thanks to their higher qualifications, they have
confidence in their long-term earning potential. Marius Dundulis,
global market research manager at Euromonitor International,
comments, "This segment of the population also exerts
influence beyond its own buying power, as many graduates continue
to live at home after University. While they remain there,
they have the ability to persuade their parents to buy new
brands and products".
This
in-depth demographic data on the Chinese market can be found
in The Future Demographic, a new publication launched this
month by Euromonitor International. This new publication draws
together for the first time an unparalleled collection of
demographic data, covering not only China but also a further
70 countries worldwide and 9 major geographic regions.
The
Future Demographic is unique in its future focus, analysing
shifts in the global population over the next 15 years to
examine how this will impact consumer lifestyles, spending
patterns and behaviour. The book also contains unique contour
charts, which map the entire past, present and future population
structures of any country or region.
Marius
Dundulis, global market research manager at Euromonitor International,
comments "What makes this book unique is that the reader
can chose a population target group and track its future development,
comparing it with that of other countries. With The Future
Demographic answers to long-term strategic questions can be
found at a glance, literally, in a matter of seconds". |
