BofA sees upgraded China consumption demand among higher-income consumers
BofA Securities says China’s consumption is seeing upgraded demand among higher-income consumers, with the shift most evident in everyday discretionary categories where international brands are regaining share among affluent households.
China's consumption likely is seeing an upgrade in demand among higher-income consumers despite overall spending, according to BofA Securities in a commentary. "The shift is most evident in everyday discretionary categories, where international brands are regaining share among affluent households i…