Higher income Chinese consumers most likely to cut festive holiday spend

An overview of planned consumer spending and channel use in China this festive holiday season.

Higher income consumers in China are most likely to spend less this festive holiday season, according to data from McKinsey & Company.

One-quarter (26%) of those with a monthly income over RMB11,000 plan to spend less on this year's seasonal events like Black Friday and Christmas compared to last year. This compares to just 16% of consumers in the lowest income category (monthly inc