{"id":4268,"date":"2019-06-19T10:07:57","date_gmt":"2019-06-19T08:07:57","guid":{"rendered":"https://cross-border-magazine.com/cn/?p=4268"},"modified":"2022-04-21T16:08:06","modified_gmt":"2022-04-21T14:08:06","slug":"demand-online-marketplaces-driven-by-lower-tier-chinese-consumers","status":"publish","type":"post","link":"https://cross-border-magazine.com/cn/demand-online-marketplaces-driven-by-lower-tier-chinese-consumers/","title":{"rendered":"Demand for online marketplaces driven by lower-tier Chinese consumers"},"content":{"rendered":"

\"China\"A report by Invesco about how China’s lower-tier cities are stepping up in consumption says that demand for online marketplaces is driven by lower-tier Chinese consumers. This shift allows merchants to take advantage of this rare occurrence.

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Understanding the consumer
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The number of consumers that purchase from global marketplaces is increasing due to movement within the consumption dynamic in China. These consumers are looking for high-quality goods at a reasonable price. Online marketplaces offer diverse selections at different price ranges and values, which is why the consumer’s hunt starts there.

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China currently only has four first-tier cities and 46 second-tier cities. According to Invesco’s research, the tier-three to tier-six cities are the ones that define the lower tier markets. Approximately 193 and 696 are third-tier and fourth-tier cities, which equals around 934 million Chinese shoppers (in 2017). That is three times greater than the population of the United States.

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The vast majority of the Chinese population currently lives in lower-tier cities. This change of new increasing urban population allows the (e-commerce) consumer sector to flourish.

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\"graph1\"

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China’s consumption economy driven by lower-tier consumers
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According to the research, lower-tier Chinese consumers are now ready to drive the overall consumption growth in China. As can be seen in the following graph, the consumption growth in lower-tier cities is currently growing increasingly higher than the growth in spending of tier-one cities.

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An example is the capital city of Sichuan province, Chengdu, which is currently home to 16 million Chinese people. From 2013 to 2017, its average retail sales growth reached 11.6%. On the contrary, Beijing, the capital city of China has only reached an average sales growth of 7.4% during this period of time, even though the population is higher by 6 million.

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The consumption sales are still one of the largest drivers for the world’s second-largest economy. As demand for higher-quality, higher-priced goods available on marketplaces is quickly increasing, it is now time for lower-tier cities to play a bigger role in driving the consumption growth in China.

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A report by Invesco about how China’s lower-tier cities are stepping up in consumption says that demand for online marketplaces is driven by lower-tier Chinese consumers. This shift allows merchants...

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