BEIJING (China Daily/ANN): Belgian beer, Thai rice, New Zealand milk, Norwegian salmon, Canadian Arctic sweet shrimp and Chilean cherries－these are just a small part of a long list of affordable options for Chinese consumers from lower-tier cities and towns to welcome the Chinese Lunar New Year, which will fall on Jan 25 this year.
Shopping for festive goods has long been a tradition in China, not only for family celebrations, but also for gifts sent to relatives and friends.
Fruits, milk, candies and chocolates are the most popular types of imported goods in third-and fourth-tier cities, the data showed. As the Spring Festival approaches, the overall sales of imported goods increased 2.3 times year-on-year. Among them, the sales of milk powder, nuts and washing products grew by three times or more year-on-year, JD Daojia said.
Chen Tao, a senior analyst from market consultancy Analysis, said people in smaller cities and towns are eager to celebrate the Spring Festival by purchasing imported goods, and have greater access to various kinds of special purchases due to the rising e-commerce penetration rate in these lower-tier areas.
Statistics from global data analytics company Nielsen showed there are 953 million people living in third-tier cities and below, far surpassing the 427 million people in the first-and second-tier cities. The data showed that smaller cities have huge untapped consumption potential. "We expect consumption in lower-tier cities to surge from US$2.3 trillion in 2017 to US$6.9 trillion in 2030," Robin Xing, Morgan Stanley's chief China economist, said in a research note.
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