China's economy dependent on consumer behaviour patterns

A report from Boston Consulting Group (BCG) says that by 2020, 81% of Chinese consumption growth will come from China's "upper middle class" or "affluent" households with annual disposable income over $24k. BCG forecasts the number of such households to double to 100m within four years, to comprise 30% of all urban households. According to the author of this Financial Times article, food safety is one of the most important issues for these consumers and they are increasingly willing to pay a premium for high-quality, traceable food. One such example is the Lonely Mountain free-range "black pork" sold on e-commerce site Taobao, which costs about a third more than normal "white pork" bought at local food markets. The Chinese Government is consumers behaviour patterns and hoping for a willingness to upgrade to higher-margin items to help combat the country's economic slowdown.

25 Reasons to Join Pride@BCG

Our LGBTQ+ employee resource group, Pride@BCG, offers extensive career-development support, as well as mentorship and networking opportunities to help BCGers excel and connect with fellow LGBTQ+ professionals. In honor of 25 years of Pride@BCG, we reached out to network members and allies to hear about how they have benefitted from being a part of this global community.