The report categorizes the respondents by age, city tier, monthly household income and shopping channel. In every consumer group, values and activity are observed to obtain the four features of Chinese consumers, which are: the huge potential of young consumers; increasing consumption activity of consumers from low-tier cities; the substantially improved consumption power of high-income consumers; and the rapid growth of online shopping.
The report suggests companies should consider focusing on China’s market from three different angles.
First, companies should position their brands in line with consumers’ values.
Second, companies should define the marketing focus and approach based on the target group’s consumption behaviors, including adopting the new marketing approach of mobile Internet.
Third and finally, companies should attach great importance to online shopping due to the fast growth of e-commerce business and select the right e-commerce business development strategy.
The report is available to download from the Roland Berger website.