Lower-tier cities hold great potential for consumption upgrading
By Chen Yingqun | China Daily | Updated: 2019-01-22 07:11
Growing consumption demands in lower-tier cities mean great potential for the development of Chinese brands, according to industry insiders.
Lower-tier cities, which include third- and fourth-tier ones and those below, have seen significant consumption upgrading, said Chen Ke, a senior partner with global consultancy Roland Berger.
"If local brands can make products that are cost-efficient and of high quality, based on a deep understanding of consumers and marketing channels in these smaller cities, they will definitely make great progress," Chen said.
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