China Consumer Sentiment Study: July 2024 Data

Travel plans this summer are lower for China’s consumers than plans for Labor Day. But nearly half of them plan to travel, and more are looking to head to Tier 1 cities and overseas. This month’s China Consumer Sentiment Study compares income growth, restaurant price hikes, and shifting meal expectations across the foodservice industry.

Key Insights:

• Across Tier 1 and Tier 2 cities, the share of increasing incomes fell compared to last month.

• Price hikes at restaurants was more noticeable in Tier 1 cities.

• In the coming month, consumers expect to reduce spend on snacks, desserts, and alcohol.

• 50% of consumers who are traveling planned a trip to Tier 2 cities.