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Maintaining Growth amidst Slowing Chinese Consumerism: Consumption Differentiation

After 28 years of continuous growth, sales volumes declined for the first time in China’s domestic automobile market in 2018. In 2018, the total sales volume was 28.08 million, representing a reduction of 2.76% compared to the 28.88 million recorded in 2017. The sales volumes of passenger cars also decreased by 7.99% [1]. The downtrend seen in China’s automobile sector is a microcosm of the real economy which is under significant pressure in China. Influenced by the deleveraging in the finance sector, trade frictions, everyone agrees on one thing…winter is coming. So how can enterprise and their brands offset consumer fears and continue to grow in China? How can enterprise leverage new technologies and leverage the vast amount of data generated by mass content consumption?

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Tags : China
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Glory Guo
Content Specialist
Glory Guo is the content specialist from ChemLinked . Currently, she keeps tracking Chinese consumer goods market trends and provides in-depth insights.
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