BEIJING — Chinese consumers are becoming more like the rest of the world: more individualistic, more loyal to brands, and more self-indulgent, according to a new report by McKinsey & Company.
At the same time, the consultancy notes that there's a growing divide between the more traditional Chinese consumers — those who spend a good deal of time in stores comparing products and who are highly conscious of value — and the "new mainstream consumers," who tend to be young and live in top-tier coastal urban areas. This latter group of consumers tends to buy more global brands, be willing to spend more money on products that bring them emotional satisfaction, and increasingly seek out labor-saving items like pre-cooked food.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"