Tuesday, January 4, 2011

Asia’s hip new consumers...

A composite image of icons of Kuala Lumpur and...Image via Wikipedia
Meet Meimei and her cousin Mei Lyn: they represent a sophisticated new Chinese retail consumer...

Meimei is a typical late 20-something Shanghai woman. She’s one of the new generation of consumers growing at an unprecedented pace in a nation with a 30 year average annual economic growth rate nudging 10 per cent.

Meimei is, for the purposes of this article, a composite of consumer profiles described by no less than five presenters on the Westfield Asian Express Retail Study Tour - presenters experienced in market conditions throughout the Asian continent, presenters based in Shanghai, Singapore, Kuala Lumpur and Hong Kong.

Meimei and her friends are getting richer faster than consumers in any other part of the world - and certainly faster than her parents, and their parents, who can now but marvel at the freedom and choice Meimei’s generation has in 2010. 

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