Chinese middle class

I am in Chengdu this week, same week as the BBC. Here is some great footage on the “Chinese Dream”.

Trying to avoid the word ‘class’ in China seems kinda difficult with a burgeoning desire from every twenty something to be wealthy and experience a very different China to their parents.

I have been stunned how ‘Western’ everywhere we have gone is. There really isn’t the same idea of the developing world that my historic thoughts about China would have conjured up. In fact, I see this as one of the best markets that anyone in the e-commerce could attack.

I know if will be difficult, but much easier than a few years ago.

Our guides have all been well educated and exceptionally ‘pushed’ by their parents. They understand that there is a great opportunity for them but also a great deal of competition, something that I felt when I grew up . The pressure to become a ‘graduate’ seems to be similar to the 70’s and 80’s in the UK. But with 7 million graduates every year in China it is going to be very competitive.

Smartphone adoption is exceptional here – everyone has one from a 6 year old we shared an excursion with to the market stall holders. So m-commerce is going to be a must – but the convenience of e-commerce will be essential to consumers who want ‘one up’ on their peers.

OK, it might not happen overnight but it will happen.

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