The modern Chinese consumer is very sophisticated in their shopping behaviour. They are very aware of the sales channels and what they want to buy. The Chinese consumer is also increasingly wealthy and their brand awareness is rising fast. From a country that didn’t have a notable middle-class still in the early 90s China has transformed into the country with the biggest middle-class in the world. The trend in the recent years has been that the upper-middle class is the segment that is making a drastic increase. With the growing middle-class comes a bigger spending potential.
The consumer behaviour in China has changed drastically in the last decade. Before, the wealthy Chinese consumer wanted to display their status by showing off big logos or seeking some kind of functional benefit in the products. Now the consumer behaviour has changed and the Chinese consumer is much more brand aware. You could say that the modern Chinese consumer’s buying habits are becoming more similar to the western world.
The modern Chinese consumer buys a brand that they can associate with and that shows their unique taste.
Chinese consumers born after the mid 1980s have very different buying habits then the previous generations. For this generation it’s all about lifestyle. They are the most independent minded and confident to display their values through consumption. This generation is the most westernized and they are happy to try new things. As consumers they are more likely to check the Internet for reviews and comments before they buy. This generation of consumers is brand loyal and they want to have the brand reflect their personal beliefs and image.
3 things the modern Chinese customer are buying?
Food & Beverage: The Chinese consumer spends increasingly more money on western alcoholic beverages (wine, whiskey), health foods and snack foods.
Travel: With the increasing middle-class Chinese people travel more then ever. In 2014 China had 117 million outbound tourists and this number grows every year.
Electronics: Smartphones, tablets and cameras are some of the most popular electronics items on the Chinese market.
The Chinese consumer is willing to pay a premium price for a quality product or service, so first of all realize the potential that the segment of Chinese consumers posses and dare to make changes to cater that market. Position your brand for the modern Chinese consumer. By building your brand right you can reach a huge customer base in the Chinese middle, upper-middle and upper class.