Retail Consumer Insights: China

Retail Consumer Insights: China Summary This report provides detailed consumer insights into China's retail market. It centers on consumer sentiment, categories purchased, channel usage, motivations for purchasing, purchase frequency and the most popular global brands. Due to the crash in the real estate market and deflationary pressures, consumption has slowed down in the Chinese market. 52.3% of Chinese consumers intend to spend the same on retail goods in the next six months, while 26.2% intend to spend more as deflationary pressure subsides. Retailers need to focus on improving their instore experience and store network as 49.5% of consumers intend to continue shopping in physical stores in the next three months, with 15.5% of them intending to do so more frequently. The demand for online goods in China is expected to rise due to increasing urbanization and the presence of major domestic online retailers, helping online penetration reach 18.9% by 2028. Scope - 50.1% of consumers believe the economy will improve over the next six months - 52.3% of consumers intend to spend as normal on goods and services over the next six months - Due to deflation and the crash in the real estate market, household consumption and demand for retail goods remains under pressure in China Reasons to Buy - Understand how different demographics in China view the health of the economy over the next six months and their own personal finances​ - Discover consumer views about shopping in physical stores, including their views on self checkouts, and how they see their shopping behavior changing over the next three months​ - Understand how important the online shopping experience is to Chinese consumers and their preferred social media platform by age group​ - Learn about Chinese consumers’ perception of buying secondhand items versus selling used items by age group