McKinsey released the latest of its China consumer spending reports. Some highlights for luxury brands include:
- By mid-2011, 195 million Chinese had used Weibo, Chinaâ€™s Twitter equivalentâ€”triple the number of users that had used the service just six months earlier.
- Higher income consumers tend to be more brand loyal. 26 percent of those with monthly incomes of more than RMB 8,500 buy only one brand of mobile phone compared with 21 percent across all income groups.
Download the report here: