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Premium Spirits in China Case Study: Harnessing Greater Consumer Spending Power in the Chinese Market
Datamonitor, June 2011, Pages: 23
Introduction
China is a key growth market for virtually all consumer packaged goods categories; indeed, the sheer size and spending power of the market is difficult to ignore. The situation in the spirits category is no different; the biggest players in the world are looking to China to drive growth. However, the opportunity is as challenging as it is lucrative.
Features and benefits
- Understand the appeal of premium spirits in the Chinese market, and how these qualities are expected to manifest over time
- Identify the obstacles faced by premium spirits players in China, and how to effectively counteract them without excess additional investment
Highlights
Over half (51%) of Chinese consumers are highly influenced by brand name when purchasing alcoholic beverages. Evidently, alcoholic beverages are a category in which a desirable brand name is a sign of affluence, success and status - qualities that foreign brands effectively exude
Your key questions answered
- How will Chinese consumers' alcoholic beverage preferences evolve over time, and what can spirits players do to stay relevant?
- How can imported spirits compete with the dominance of the local spirit baijiu? Should brown and white spirits adopt different approaches?
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