The allure of the world’s fastest growing economy and largest population is undeniable; companies crowd into the mainland in search of salvation to offset markets that have peaked or are in decline. China’s youth population is composed of 500 million under the age of 30 and is poised to play a vital role in the global economy. Until now, no one has focused on this powerful group and the strategies that succeed with them.
Born under the one-child policy into a newly opened economy, Chinese youth are consumer pioneers almost by birthright. Backed by two parents and four grandparents, they are positioned to consume new cars, luxury products, and real estate much earlier than their foreign peers. It is youth’s accumulation of power that will catapult China to become the number one consumer market across too many categories to list.
In All Eyes East, author Mary Bergstrom shares years of experience studying youth and helping companies understand and better target young audiences in China. She guides readers through the stories behind the headlines to reveal the unique way that Chinese youth look at themselves and the world. Along the way, she deciphers key issues such as the phenomenon of assigning new generations every ten years (or less), the meaning and manifestations of subcultures, and the new order that has emerged as a result of the country’s dramatic gender imbalance.
At each step, Bergstrom marries insight to action; explaining how and why changes have occurred, what companies have done to successfully (or not) leverage trends, and what will happen next. By interviewing leaders of brands that have operated successfully in China for decades such as Pepsi, GM, Li Ning, McDonald’s, Converse, JWT, and Interbrand, Bergstrom goes behind the scenes to deliver personal accounts of best practices and lessons earned. Interviews with China-focused academics and journalists help to round out a thought-provoking analysis of the world’s most powerful consumers.