Perception of Western Brands
14%
9%
% of participants that found western brands more appealing
2024 Survey
2025 Survey
5%
Consumer Income & Spending
% of participants that expected a slight increase in pay
2024 Survey
2025 Survey
56%
50%
6%
Intentions to Save
% of participants reporting savings are up, but drawing down
2024 Survey
2025 Survey
7%
9%
2%
Housing Market Sentiment
% of participants that expected housing prices to decline
2024 Survey
2025 Survey
42%
42%*
*There was a 9% drop in China's housing price index since last year
Source: TD Cowen Chinese Consumer Survey, N=2000, May 2024 & February 2025