Mintel On China’s Biggest Consumer Insights

Mintel in a new conference presented its latest report on China’s consumer market, and here are some of the highlights and its implications for brands.

Consumers are more confident in their future financial standings, while they are spending more, people are also more selective with purchase decisions.

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Rebound in consumer confidence

  • People no longer see value as just lower price. Function, design, novelty and quality and brand value are all big part of what consumers consider.

Opportunity for brands:

Thoughtful design, fun packagings and providing quality will triumph in the long term over providing cheap products.

 


77% of university students finds enjoyment in life from simple everyday pleasures

  • 小确幸( Simple Everyday Pleasures):Originally quoted from Japanese author Haruki Murakami’s essays, which tells his philosophy of enjoying life from its small everyday pleasures.

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Opportunity for brands:

Consumers takes rituals seriously and brand should too. By building rituals and messages around everyday happiness and quality of life we gain a more meaningful place in consumers everyday life.

 


41% of consumers consider “honest is advertising” a very important factor in ethical company/ brand

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Opportunity for brands:

Being real matters. Consumers don’t want to be spoken to like consumers, instead talk to them in real terms and connect with them over what matter to them the most.

 


45% of university students prefer imaginative ways to advertise.

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Opportunity for brands:

Think fun, think outside the box, and think personalized. Stand out from competitors marketing for people to remember you in a meaningful way.

Link to download report

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