Chinese Consumers Are Way More Optimistic Than American Consumers

Chinese consumers remain optimistic, even as their slows, while U.S. and U.K. consumers remain fearful, according to a new Boston Consulting Group survey.

40 per cent of Chinese consumers said that they are planning to spend more money in the next 12 months than they did in the past 12 months — up from 36 per cent in 2011 and 23 per cent in 2010.

Meanwhile, fewer than one in 10 consumers (9 per cent) in both the U.S. and the U.K. said that they are planning to spend more in the next year, the survey found.

Here’s the story in table form:

china confidence

Photo: Boston Consulting Group

“Chinese consumers are a beacon of hope,” Michael J. Silverstein, a senior partner based in BCG’s Chicago office and a coauthor of The $10 Trillion Prize, said in the release accompanying the survey.

More from Silverstein:

They believe they will earn more, they will spend more, and their children will have a better life. They don’t see a global conflict on the horizon.

U.S. and U.K. consumers, on the other hand, remain guarded, stressed, and anxious. They are suffering the consequences of four years of recession and continued talk of a ‘double dip.’ They read the gloomy headlines from around the world and are filled with fear.”

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