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[Figure You Should Know] – 630 M[#economy #promiseconsulting @printempsetudes]

According to McKinsey (March 2014), by 2022, middle class in China will change considerably, mainly geographically.

Tier 1 cities (Beijing, Shanghai, Guangzhou, Shenzhen) might see their share of urban middle class decline (from 40% in 2002 to 16% in 2022) while it should be rising in tier 2 and tier 3 cities (for the latter, from 15% to 31%). This middle class could reach up to 630 million people in 2022, which is accounting for around half of the population in China, thus making China a middle class country.

Since they are now spreading, brands looking for customers will have to focus more on tier 2 and tier 3 cities and especially on middle class customers.

Source: Mc Kinsey

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