Chinese Consumers Are Evolving By The Minute
Havas recently published a report of Meaningful Brands 2019: The fast-changing interaction of Chinese consumers with brands, it is meaningful for companies to build their brands in the Chinese market. The report researched over 16,000 consumers in China and it provides insights on the relationship between Chinese consumers and brands.
1. Chinese consumers are becoming more detached with brands
In the future, 54% of brands in China could disappear tomorrow and no one would care. This shocking number has grown 4% more than in 2015. Brands play a different role in consumers’ decision with the high development of E-commerce business platforms. Chinese consumers become ‘picky and smart’, this means they don’t rely on brand image anymore, instead, they compare goods between different merchants and make decisions by product detail and quality. Brand image is not necessarily the most important factor any more. Digital and online shopping also change the mindset of consumers.
2. Consumers value meaningful benefits from brands, in order to improve the quality of life
84% of Chinese consumers wish brands can improve their life quality. The number goes up 13% compares to 2015. Economy slows down, expensive housing price, medical service and education, drive more consumers to spend on themselves. Young people worry about their future and are willing to change their consumption pattern. Young consumers are spending more in that segment at the moment, while sales of cars and furniture dropped by 14% and 11.6% in 2018.
3. More qualified products, experienced consumption and Chinese brands
Chinese consumers prefer better quality products, especially top criteria craft so that they can get the best quality and function from it. Consumers like to enjoy their moments in three aspects: everyday life, experience and the attitude of ‘word hark play hard’. Besides, Chinese consumer prefer Chinese brands to show the proudness of their nation.
4. Content which inspires, helps and reward consumers help brands see their meanings
Consumers believe that the content provided by brands is meaningful to them increases from 46% in 2017 to 52% in 2018, and it is 10% more than the global meaningful content. Brands need to create better quality contents for inspiring, helping and rewarding consumers, improve their lives. The report tracks the relationship between brand performance, meaning and content show that brands need to improve their content quality to attract audiences’ attention so that they can have more benefits from the market.
More and more Chinese brands dedicated to making better quality contents, including many E-commerce digital platforms. They are hoping to extend their brand influence to more consumers.