Insights China by McKinsey and the Chinese Consumer Center launched the third annual Chinese Consumer Report today at a media briefing in Shanghai.

The report states that four major trends are reshaping China's consumer landscape: the growing importance of regional differences in consumer behavior; the emerging preference for premium products among affluent consumers; the changing ways that consumers choose brands; and new ways of connecting with consumers. The survey underscores the need for companies in China to tailor their marketing programs to address Chinese consumers' unique preferences.

China is a dynamic market that continuously challenges our assumptions and compels us to innovate. Over the 3 years that we have conducted our annual research into the Chinese consumer, we have witnessed the emergence of an increasingly discerning and sophisticated class of consumers.

The speed of change in China can be breathtaking. Consumer goods companies trying to keep pace can easily lose sight of the big picture as they focus on operational necessities. But failing to understand the ever-changing dynamics of this market can all too quickly result in being left behind, and the price to get back at the front of the race may be crippingly high.

McKinsey's China Consumer Center has interviewed about 5,000 to 6,000 consumers annually since 2005, providing the broadest and deepest overview of consumer attitudes and behavior in China. Our sample is representative of 90 percent of China's GDP, 80 percent of its disposable income, and 60 percent of its population, with in-depth views across city tiers, income groups, ages, and regions.

This report delves into four critical areas that consumer-facing companies need to understand in order to fully appreciate fundamental shifts in evolution of China's consumer landscape: the rising importance of regional differences, the growth of the premium market, the new look of winning brands, and new ways to connect with consumers.

Visit Chinese Consumer Survey 2008 McKinsey Web Page

You can download full publication in PDF format.

Vinay Dixit, Max Magni, Ian St-Maurice, Claudia Suessmuth-Dyckerhoff, Hsinghsin Tsai
McKinsey & Company, 2008

Download Chinese Consumer Survey 2008

PDF format, 3.2MB, 40Pages.

CONTENTS
Executive Summary
The Growing Importance of Regional Differences
Accelerating Demand for Premlum Products
The New Look of Winniing Brands
- Fewer brands, bigger brands
- Focus on the right brand attributes
- Going green
Connecting with Consumers
- Television: Earn the right to play
- In-store promotions: Stand out from the crowd
- Sponsorship: Get maximum bang for your buck
- Blogs and online forums: Understanding new media
Conclusion
Insights China by McKinsey

Visit Insights China by McKinsey & Company Website

What is INSIGHTS CHINA?

Capturing business opportunities in China requires a deep understanding of future market development and consumer behavior. Insights China by McKinsey is a powerful resource that uses a rigorous fact base to generate answers, and beyond that, provide a framework for formulating the right business strategy. Insights China by McKinsey comprises:

    * Access to a comprehensive and reliable market intelligence
    * Analysis tools based on an integrated McKinsey problem solving approach
    * Optional workshops and telephone support to help define and develop analysis

Insights China by McKinsey helps decision makers find the answers they need to successfully tackle strategic challenges.

Comments (0)

Show/Hide comments

Name

Email

Website

Title

Comment

smaller | bigger

Add Comment