Save and earn, value conscious buying on rise

Chinese consumers are shifting gears to more meaningful purchases as they strive to boost incomes and tighten spending to navigate economic uncertainties, said a report by global consumer and retail analytics leader NielsenIQ.

It said that although lower-income consumer groups have shown clear signs of improvement, over half of Chinese households report no significant financial improvement over the past six months. Some 34 percent of consumers believe their household finances are better than last year, down 16 percent year-on-year.

Against this backdrop, more consumers are adopting a "save and earn" strategy. A remarkable 72 percent are actively hunting for "side gigs" to supplement their primary incomes. At the same time, they're making every yuan count, with 47 percent confessing that they now only buy items necessary to avoid waste — a 7 percent increase year-on-year.