富裕消费者消费的未来（英）-益普索

The Future ofAffluent Consumers ConsumptionThe New Wealth Era: Decoding Affluent Consumer Behavior & Market Opportunities张玲玲 副教授 lzhang@Ceibs.edu李丽真 资深研究总监 Abby.Lee@Ipsos.comIntroduction Background: With rapid economic growth and wealth accumulation, China has become the world’s largest high-net-worth population by volume. From 2010 to 2020, the number of households with over RMB 1 million in investable assets grew nearly tenfold, fueling the rise of a sophisticated and diversified premium consumption market.Today, Gen Y and Gen X remain the core force behind high-end spending. Meanwhile, Gen Z—shaped by digital fluency, strong self-awareness, and intergenerational wealth—has emerged as a new driver of market trends. Their consumption is highly individual, emotionally expressive, and socially charged, reflecting a shift from status-driven spending to value-based lifestyle expression. At the same time, the Silver generation—experienced, financially stable, and increasingly open to lifestyle upgrades—is emerging as an underexplored yet promising segment. Their demand for quality, health, and meaningful experiences presents new opportunities for brands looking to serve a growing and loyal premium audience.This evolving consumer landscape calls for brands to rethink how they define “premium” and “luxury.” Affluent Chinese consumers are not just chasing labels—they’re curating identity, meaning, and connection through every purchase.This report is based on in-depth interviews with 15 affluent consumers and 4 experts, spanning four generations (Silvers, 80s, 90s, 00s). Using Ipsos UU China’s qualitative framework, the study explores how wealth, values, and generational differences shape premium consumption across key lifestyle categories.Research MethodologyRespondents profile — ExpertConsultingName：Mr. YanOccupation：Consumer Digital Operations and Retail ConsultingFast Moving Consumer Goods (FCMG)Name：Ms. MirandaOccupation：Marketing and Brand Operations in the Fast Moving Consumer Beauty IndustryInvestmentName: Mr. LiuOccupation：Investment analyst/investor, focusing on the consumer and technology sectorsInvestmentName：Ms. SunOccupation：Venture capital practitioners and financial advisorsRespondents profile – Consumer NameAgeGenderOccupationGen ZMr. LiVickyReneeJuneItolMaleFemaleFemaleFemaleFemale2526252525Financial Technology at a bankReal Estate Development in a family-owned companyHuman Resources in a foreign enterpriseEntrepreneurDigitalization in the manufacturing industryMs. ShiMs. ZhangMr. TanFemaleFemaleMale322833High EducationMBA studentVice President in the finance industryGen YGenerationMr. WuMale33FinanceRespondents profile — ConsumerNameAgeGenderOccupationGen XMr. ZhaoNing HuMaleFemale3843Account manager at AmazonVice President in a cosmetics companyJing ZhangMr. LiuMs. HuFemaleMaleFemale506350Advertising company entrepreneurEnterprise InvestmentPartner of a food processing and manufacturing companyGenerationMs. ChenFemale57InsuranceSil