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The Global Economic Crisis: The Impact on Consumer Attitudes & Behaviors In China
Datamonitor, July 2009, Pages: 101
Less than a quarter of Chinese consumers believe that they are currently living in a recession, compared to 90% of Americans. This is indicative of an altogether more optimistic outlook for the Chinese economy and a more positive mindset among Chinese shoppers. Nevertheless, Chinese consumers are demonstrating many traits associated with the intensifying recessionary mindset apparent elsewhere.
Scope
- Detailed analysis documenting Chinese consumers recessionary mindset and how this influences perceptions about current and future prospects
- Insights highlighting how the economic downturn has affected perceived quality of life, emotional wellbeing and financial security in China
- In-depth analysis of Chinese shoppers changing price sensitivity, value consciousness and attitudes towards private label across 4 major FMCG sectors
- Countries and categories covered: China; food and non-alcoholic beverages, alcoholic beverages, personal care and household care
Highlights of this title
Chinas economy has demonstrated comparably higher resilience in the midst of a worldwide slump and it also seems Chinese consumers recognize this. They are less likely to perceive that their lifestyle has changed in light of the economic downturn with just over a quarter (27%) perceiving that their lifestyle has been impacted by the recession.
Despite modernization, traditional Chinese values have persisted, posing dilemmas for marketers to develop creative campaigns that can work within a Chinese cultural context.
For 67% of Chinese shoppers, overall quality of products sold has a high amount of influence over where people do their grocery shopping. This is symptomatic of the aspirational mindset among Chinas emerging consumer culture and the opportunities apparent for strong brands that are synonymous with quality.
Key reasons to purchase this title
- Gain a detailed understanding of changing consumer attitudes and behaviors amid the downturn in order to determine appropriate recessionary strategies
- Obtain country and sector specific insight about pertinent recessionary themes such as private label and consumers value consciousness
- Assist consumer segmentation and targeting efforts by accessing data from two waves of primary research conducted in August 2008 and April 2009
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