The future is now

Seven social and economic trends in China

On June 27th 2017 I have given a speech at the „International Roadshow 2017: China Insights“ to German enterprises in Munich with the title „The Future is Now“. I have shared some current social and economic happenings in China that are influencing the future, including consumption upgrade, sharing economy, live stream, and cash-free lifestyle, at the same time I have unveiled some business and marketing potentials embarked behind.

From my point of view, as a country named as “The People’s Republic of Change”, Future is never a settled image, but series of constantly changing realities of some of the below:

Vera Yu
Head of Strategy, Serviceplan China Beijing

  • People are and will continue to spend more on product and services that can “upgrade” their life quality such as safer, greener, healthier, better and more esthetic.
  • Luxury consumption now has beyond material procession and status emulation. Those experiences and sensations that are not easily seen by others but enjoyed by oneself now are being more appreciated. Authenticity and adventurous spirit will be more treasured.
  • Knowledge is becoming measurable and consumable. Those who are developing original content and IPs finally are seeing the light of getting rich.
  • Emotions, no matter ups or downs, as long as there is a group of people who share the same, there is a market. A more open society is now opening to more alternative ways of expressions.
  • China is entering into a great pan-entertainment age. Gaming, Comics, Films and Music, they cross and interact with each other. Marketers should seize the opportunity to turn them into marketing vehicles.
  • The fast development of Internet plus and the mobile payment is making China the world No. 1 “Cash-free Lifestyle” country. A mobile in hand, a whole world in hand.
  • Sharing economy backboned by leapfrogging adaptation of new technology are deeply influencing people’s daily life. People are shifting from the addiction to material possession for a better life with less possession but more freedom and more possibilities.

When there is no attachment, there is freedom. These already happening “realities” in China are indicating the future way of living, making Chinese less and less constrained by materials, but more and more accessible to ultimate happiness and it is a good timing for German brands who are dedicating in improving people’s quality life to come to China and play a more active role there!

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