Survey on consumer spending
Print Edition
Chinese born between 1970 and 1979 continued to be the main contributors to consumption, according to a report on the latest trend of domestic consumption done by China Unionpay and JD Finance, the financial arm of major e-commerce behemoth JD.com.
The survey, which randomly selected 400,000 active users of the two companies and tracked their behavior of consumption during the past three years, revealed that those born in the 1970s contributed nearly half of the total daily consumption of the 1970s, 1980s and 1990s in the past three years.
Those born between 1980 and 1999 saw a rapid growth of spending during the three years, doubling the spending of people born in the 1970s. The survey also showed that money spent through mobile and Internet channels took up over half of their daily consumption expenditure.
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