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16 March 2021
Understanding China’s changing consumer
Consumer sentimentEnvironmental & social issuesHealth & well-being
The last year was a momentous one for China’s consumers, as new trends emerged and existing ones were accelerated by the pandemic; a Kantar study looks at everything from the rise of livestreaming to the effects of anxiety.
Why it matters
Understanding how things have changed is central to managing challenges and finding opportunities in 2021 and beyond, argue the authors of Kantar’s 2020 China Monitor, which details emerging consumer trends, and tracks changes in consumer values, attitudes and demands.
The pandemic has unleashed an “irreversible migration” to e-commerce; brands need to be agile in order to take advantage of both technology and trends. Livestreaming, for example, has rapidly become an “all-in-one retail channel that brings marketing, communications, and sales together”.
Consumers are increasingly becoming time-poor, so convenience is “a make-or-break feature of a business”. Brands can constantly improve hassle-free shopping and update user experience to become consumers’ “partners for life”.
People are anxious about many aspects of their life, from appearance to wealth, from health to the environment; they want communities that recognize these pressures and are ready to invest in ways to feel safer and alleviate anxiety.
Many Chinese consumers now think about a brand’s purpose – what it does beyond simply making a profit – when considering a purchase. National pride continues to grow, but people are still curious about and open to foreign culture. In short, China’s consumers have become more sophisticated, say the report’s authors.