China: Despite slowing economy, poised to drive the future of consumption

 

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China’s economic slowdown has dampened local consumer confidence. Nevertheless, the bigger story about China is its continued appeal and strategic importance for global brands. Poised to overtake the US as the world’s top retail market this year, China is successfully transitioning into a consumption-driven economy, and marketers trying to prepare for the future of consumption and innovation can often get a glimpse of what’s coming from this increasingly forward-leaning market. Already, China leads the world in ecommerce, mobile payments, the sharing economy, and sales of electric vehicles – to name a few. Chinese consumers – among the most tech-savvy and open to new solutions - will likely continue to embrace and demand breakthrough innovations.

As promising as it may be, China also represents an increasingly challenging market. Consumers are growing ever more sophisticated and demanding. Homegrown brands have emerged as fierce competitors that no longer just win on price. In addition, a strong sense of nationalism could work against foreign players.

So, who are Chinese consumers? What are their concerns, values and mindset, shopping and brand attitudes? How to address and win them?

Report specifications: 

  • 22 slides
  • Language: English
  • Region: China
  • Year: 2019
  • Delivery: 2-3 days
  • Investment: € 2,500
Have we aroused your interest? Please feel free to contact us personally or download our teaser for more information.

 

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Petra Süptitz
Petra.Sueptitz@gfk.com 
T +49 911 395-3082