普华永道2025全球消费者之声中国报告：新时代中国消费者——食品、健康与可持续发展

The New Chinese Consumer:Food, Health, Sustainability ForewordRetail market overviewThe five faces of the New Chinese ConsumerAbout the survey Contents This year marks the 16thAnniversary of PwC’s Voice of theConsumer Global Survey, and I am pleased to share withyou the findings of our 2025 China Report. dietary needs, and feature sustainable packaging, whilealso remaining receptive to quality imported goods. Thesepreferences create a clear roadmap for brandmanufacturers and retailers, highlighting precisely where The 2025 consumer landscape in the Chinese Mainlandand the Hong Kong SAR is a study of contrasts andconvergence. While Hong Kong consumers grapple withimmediate economic pressures, their Mainlandcounterparts are navigating a complex blend ofburgeoning health consciousness, a resurgence of For retailers, this means employing strategic categorymanagement to curate product assortments that directlyreflect consumer priorities like wellness and Carrie YuPwC China ConsumerMarkets Industry Leader sustainability. In a market where private brandconcentration is in single-digit, this presents a goldenopportunity for private labels to evolve beyond theirtraditional role as budget alternatives. By developingtargeted private brand lines—from premium wellness To navigate this complexity, our report moves beyondbroad trends to look at five distinct consumer personas.From the hyper-rational value seeker to the culturallyattuned domestic brand supporter, we explore theirunique motivations, behaviours, and expectations. Byunderstanding the "day in the life" of these consumer Ultimately, this strategic pivot from reactive selling to Foreword proactive curation underscores a fundamental markettruth: understanding the consumer is no longer a meremarketing exercise, but the central pillar of a resilientbusiness strategy. The businesses that will lead tomorrow In particular, when compared to their global peers,Chinese consumers place a significantly higher value onproducts that offer nutritional benefits, meet specific Retail marketoverview Market duality: Navigating economic headwinds and sectoral booms proximity and value. Hypermarkets, conversely,continue their decline, while membership-basedwarehouse clubs like Sam's Club are seeing remarkable China’s consumer market is a dynamic ecosystemvalued at approximately RMB49 trillion in 2024,integrating both traditional and modern retail formats.The retail environment presents a dual narrativeheading towards the end of 2025 and into 2026. Onone hand, macroeconomic softness, employment recent market data showing a deceleration in fast-moving consumer goods (FMCG) growth, driven by adecline in average selling prices (ASP), even as sales This cautious sentiment is reshaping the retail channellandscape. According to the Kantar Worldpanel ChinaShopper Report 2024, offline channels haveoutperformed the market for the first time since the In Hong Kong, retailers are facing high operating costsand intense competition from Chinese e-commerce platforms making inroads into the city. Meanwhile,certain consumption patterns are accelerating,including the rise in the northbound travel trend of On a positive note, according to oursurvey, Chinese respondents arewilling to spend onpremium and health-conscious food, preventative healthcare, wellness services, and overall personal well-being, signaling Most important factors when choosing food This heightened focus on personal well-being also extends into a sense ofenvironmental responsibility. Chinese consumers are more inclined toselect products with sustainable packaging and to look for sustainability certifications. Most strikingly, a substantial majority demonstrate a At the same time, the “instant retail” phenomenon,has become a highly competitive space for tech giants The “Guochao 2.0” or “national wave 2.0” trend—apreference for domestic brands that celebrate Chineseculture and heritage—is also fundamentally alteringbrand loyalty. This surge in national pride, as seen inthe stellar success of the national blockbusterNa Zha2 like Alibaba, JD.com, and Meituan. Promising deliveries within 30-60 minutes, this sector reachedapproximately RMB780 billion in 2024 and isprojected to exceed RMB2 trillion by 2030[1]. The Taken actions to reduce impact on climate As consumer confidence rebounds from previous lows,supported partly by targeted government incentives,Chinese consumers are investing in their physical andmental well-being. This is driving demand for However, this shift does not signal a receded interestin foreign goods. Chinese consumers remain open tointernational products, especially those that offer competition: that includes delivering clear price-to-value propositions, integrating seamless digital andphysical experiences, catering to the wellness boom, market rather than relying solely on their country of All in all, this complex environment demands amultifaceted strategy for retailers. Success