Accessible version In this report, we seek to decode the polarization of New vs. Old Consumption in China. We see three key trends: 1) a well-penetrated, stagnant economy pressures growth overall, leaving room only for select opportunities; 2) an imbalanced world of supply- demand mismatch and corporate competency gaps further challenge companies, amid commoditized supply, demanding consumers, and channel/media disruptions; and 3) a new generation of consumers, in face of a fragmented social media, affluenz ...