A Look at Consumer Buying References
Understanding consumer market dynamics and positioning ahead of emerging trends is crucial for consumer brands and retailers to shape their business growth strategy. In China, Deloitte’s consumer research suggests:
* Increased consumer sophistication with ‘Value for Money’ becoming the key purchasing criterion in Tier One and Two cities. It is expected to supplant ‘Quality’ as the top decision criterion for consumers in China’s Tier Three and Four cities.
* A high portion of consumers with proven purchasing power are willing to experiment with new premium brands. Many brand ‘relationships’ with their customers are weak and opportunities for new entrants remain.
* Despite the growing importance of ‘Sustainability’, Chinese consumers are unwilling to pay for abstract environmental concepts.
Understanding how these (and other) consumer trends will play out is a crucial input to adapting your strategy for long term success. Join AustCham Shanghai and Alan MacCharles as he talks about “Winning the Wallets of Today’s Chinese Consumers”on Wednesday, August 18.
For more information please visit the website: www.austchamshanghai.com