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Mintel 2018 the Chinese Consumer Official Store

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Mintel 2018 the Chinese Consumer Official Store MINTEL 2018 THE CHINESE CONSUMER OFFICIAL STORE COMPREHENSIVE ANALYSIS. EXPERT INSIGHT. ASPIRATION AND Mintel PRIDE IN CHINA Point of sale Consumer Company market data behaviours strategy Reports Utilise IRI point Understand Understand the of sale data consumers’ strategic moves Editor’s Note Contents to see exactly buying of key players what consumers behaviours, to see what’s Over 1,000 global Mintel is using ‘aspiration and pride’ to are purchasing habits and working describe Chinese consumers in 2018. purchase 02 consumer markets The reasons behind this theme will influencers Priorities for 2018 become clear as you uncover our latest consumer insights and market research at your fingertips. in the pages that follow. 06 Ruyi Xu, Today, China’s economy remains in Understand the market. Market Size Demographic Product Changes in Head of Reports, good health and continues down the Evaluate the breakdown innovation consumer spending North Asia path of reformation, becoming more Know your consumer. size of your From Identify and consumption- and service-driven. GDP market and Millennials to evaluate new growth accelerated slightly in 2017 to See the future. the 5-year Baby Boomers, products with reach 6.9% with 58.8% of the growth being 08 forecasted assess how each our Global driven by retail sales of goods and services; 5 markets to watch growth rate group spends New Product FIND YOUR REPORT meanwhile, CPI growth stayed at a low level Database of 1.6% and home price increases eased in 2017. The unemployment rate dropped 3.9%, the lowest since 2002 and per capita 11 disposable income grew by 9.0%. What we think Market Representative Opportunities Regarding China’s population, it hit nearly Segmentation sample Assess the 1.4 billion in 2017, around 60% of whom are Identify the Evaluate areas of growth urbanites. While 2017 saw a declined birth 12 various market consumers and potential rate of 12.43% (down from 12.95% in 2016) About the analysts segments and accurately market due to fewer first-birth babies, it was the how they’re with data from opportunities first time that there were more non-first birth performing real-world babies (than first-birth babies) after the full consumers relaxation of the one-child policy in 2015. On the other end of the age spectrum, the THE CHINESE CONSUMER CHINA, APRIL 2018 aging population continues to grow with THE CHINESE CONSUMER, CHINA - APRIL 2018 Being an aspirational brand is no longer about price and exclusivity FIGURE 7: ATTRIBUTES ASSOCIATED WITH AN ASPIRATIONAL BRAND, 16 While value for money is the most JANUARY 2018 11.4% of the nation’s total population (158 mentioned criteria defining an aspirational brand, this is not enough: consumers also “Which of the following attributes would you associate with an aspirational brand expect the brand to be sincere, ethical, apart from offering high quality? (Multicode)” sharing the same values with them and being rich in cultural heritage. There is much more about the brand personality Being value for money than product offering (being cutting edge Shares the same value with me in technology and aesthetical in design) in million) now over age 65. Post-70s, Post- consumers’ definition. Has historical/culturalIs heritage sincere 62 44 Consumers from different generations 44 Is ethical have somewhat different views on what % 39 defines an aspirational brand: for Post- Full of high-tech 70s, it is important for the brand to be seen Is trend-leading 38 Get 20% off the new Chinese as an approachable and genuine friend; Is aesthetically designed 34 for Post-80s, this brand needs to be the 32 Is luxurious one setting the standard in the industry; 30 80s and Post-90s are becoming the core for Post-90s, the brand is like an idol or Difficult to buy 12 spokesperson they can identify with. None of the above 5 Base: 3,000 internet users aged 20-49 1 Short-term gimmicks cannot fulfil Source: KuRunData/Mintel the long term job again proves the point that short-term Nearly half of consumers are indifferent buzz generators are limited in their power Consumers report code AP20. to certain marketing activities that brands to change consumers’ feelings about the brands that offer real benefits (such as spending consumer segments in China, with the employ, eg using young hunks as an brand in the long term. smart services and customised solutions) endorsement and event marketing. This are most likely to win their favour. On an Chinese consumers are practical by emotional level, nostalgia marketing and FIGURE 8: ATTITUDES TOWARDS DIFFERENT MARKETING ACTIVITIES, JANUARY 2018 nature, which is reflected by the fact that lifestyle-positioning are more likely to resonate with them. “In general, how do you feel about the following brand activities and trends? (Single code per row)” representing nearly 636 million people. Offer customised product/serviceOffer smart services solutions (a) 72 Nostalgia marketing SHOP NOW Self-label as a lifestyle brand 70 23 33 47 Use hot event to market a brand 25 3 % 3 44 43 Crossover marketing (b) 4 6 34 45 Live streaming brand activities 6 5 30 48 13 6 Use grassroot star as a brand'sOpen spokesperson pop-up stores 30 46 16 7 Use young hunk as a brand's spokesperson 29 55 9 6 Self-label as an internet famous brand 26 55 8 NEXT60 8 26 Have favourable attitudes toward the brand 7 20 54 7 Putt me off the brand 50 15 5 24 Base: 3,000 internet users aged 20-49 Doesn't affect my feelings towards the brand 6 (a) eg self-serve ordering, pay by facial recognition I don't know/It's hard to say (b) eg KFC launching perfumes, Gucci opening a café Source: KuRunData/Mintel PREVIOUS © Mintel Group Ltd. All rights reserved. NEXT 02 – 03 Middle class General attitudes towards lifestyles and values, values without January 2018 the label Chinese brands are Chinese consumers, whether they just as innovative 78% identify as middle class or not, value as foreign brands Priorities hard work and ambition, which are traditionally core middle class values in Western society. However, using the middle class label in marketing is less likely to connect or inspire Supporting for 2018 Chinese consumers, not only 71% Chinese brands is because it does not strike a clear important to me meaning in China due to a lack of shared meaning, but also because people do not necessarily feel it is an aspiration. With the term’s Western Most important things in life, January 2018 Achieving work/ roots, only 41% of consumers say Western lifestyle Western lifestyles and brands are and brands are Happy family 41% family balance aspirational to them, far lower than aspirational to me 51% 56% those who think it is important to When asked what matters most to support Chinese brands (71%). consumers, the top three choices Healthy lifestyles Base: 3,000 internet users aged 20-49 have remained the same this 45% 43% year compared to 2013. What is interesting to note is that consumers Best education for my child(ren) today are putting more emphasis on 28% 31% their personal happiness at work, with more consumers saying they Make more money want to make money while also enjoying the job they do. 25% 23% More comfortable living environment Regardless of 24% 11% whether they self- Job I enjoy identify as middle 23% 16% class or not, 90% Enough time for my personal life of 20-49-year-olds 18% 13% agree in order to Successful career 2018 live a better life, one 18% 25% 2013 has to work harder. Base: 3,000 internet users aged 20-49 04 – 05 ONLINE BEHAVIORAL Finding value Attributes associated with an aspirational brand in aspirational (apart from high quality), January 2018 INTELLIGENCE brands 62% Mintel and Early Data’s new joint venture gives you insights into consumer behavior and online retail While value for money is the most performance to help drive your decision making. mentioned criteria defining an aspirational brand, this is not enough: consumers also expect the brand 44% 44% to be sincere, ethical, share the same values with them and be rich 39% 38% in cultural heritage. Consumers are 34% taking brand personality, as well as 32% GAME CHANGING product offering, into consideration 30% • • when making a purchase decision. DATA INSIGHT RESULTS Consumers from different generations have somewhat different views on Online retail has BETTER TOGETHER WITH MINTEL AND what defines an aspirational brand: EARLY DATA YOU CAN for Post-70s, it is important for the gone from an brand to be seen as an approachable Advert industry disruptor 3 Gain insights on and genuine friend; for Post-80s, the to an everyday, Consumers Category monitoring how your category is brand needs to be the one setting Find out how your Access comprehensive preferred channel consumers are thinking reporting for China’s performing and the the standard in the industry; for Offers value for money Shares the same values as me Is sincere heritage Has historical/cultural Is ethical Is high-tech Is trend-setting Is aesthetically designed and behaving. leading ecommerce best sellers driving it. Post-90s, the brand is like an idol or for many consumers. platforms and online spokesperson they can identify with. Base: 3,000 internet users aged 20-49 Trends markets. 3 Identify issues, Brands will be able to Understand changes trends and threats in culture, markets Price tracking access category and brand and brands. Follow the latest pricing to your business. share for both ecommerce and promotional trends Innovations for your markets, stores, 3 Discover new product retail volume and value with Keep on top of key items and competition.
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