Consumer

Why are China's big spenders so difficult to figure out?

In China, the only thing that may be more important than being rich is looking rich. There are two Chinas and the Chinese – particularly the middle class riding between them both – have developed a sense of urgency to distinguish themselves from the majority of the country's population, which is still desperately poor. "China's consumers represent an archipelago of wealth amid a sea of rural poverty," says Arthur Kroeber, the editor of the Beijing-based China Economic Quarterly.

Rosy expectations about the economy have made Indonesian consumers among the most optimistic in emerging economies, a survey from Credit Suisse Research Institute shows.

In the survey, published on Thursday, Credit Suisse said that even though Indonesia was among the poorest of the eight countries surveyed, it was the third most optimistic, after India and Brazil.

The other countries in the survey were Russia, China, Turkey, Saudi Arabia and Egypt.
 

Research by retail consultants Global Retail Theft Barometer and Checkpoint Systems has suggested a new wave of middle-class shoplifter is targeting high-end delicacies from supermarkets in order to maintain a lifestyle they could no longer afford. These are people who appear to be reputable and often justify their actions by arguing that they have become victims to the economic recession.

China's reputation as the home of fake goods may be coming to an end as increasingly savvy consumers demand the real thing.

Licensing agents for global brands said the threat from fake goods had declined in recent years amid surging demand for genuine goods and co-operation between mainland and overseas merchandisers.