Economic Uncertainty Drives China's Middle Class to Embrace Thriftiness, Boosting Beijing Wholesale Market
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More middle-class Chinese are shopping at Beijing's Daliushu wholesale market due to economic uncertainty and weak consumer confidence.
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Bargain-hunting shoppers include teachers, retirees, and even wealthy individuals looking to save money.
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Stagnant wages and pensions coupled with job insecurity have reduced household spending power.
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The shift is a boon for Daliushu merchants, with some vendors struggling to keep up with demand.
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Luxury brands banking on growth in China could face challenges as thriftiness spreads among middle-class consumers.