Global Brands Turn To China’s Young Amid Slump
In her Vans cap, Quiksilver shirt and Adidas shorts, 19-year-old Terry Zhong is a walking checklist of sports brands as she sets out on a weekly shopping trip with a 500-yuan ($73) budget.
Global economic gloom has barely dented her willingness to spend.
“I don’t think it has anything to do with me,” Zhong said, striding through Beijing’s bustling Xidan commercial district carrying bags from H&M and Zara.
Young Chinese shoppers like Zhong are still spending freely, and major brands ranging from Nike Inc. to Barbie doll maker Mattel Inc. are courting them eagerly to shore up revenue as demand elsewhere slumps.