中国的网购消费者_千禧一代如何促进中国零售业变革（英文版）_24页_2mb

Summary of "China's Connected Consumers"

Core Content

This report, commissioned by KPMG China and Mei.com, provides an in-depth analysis of the evolving consumer behavior in mainland China, with a particular focus on Millennials. Conducted in September 2017, the survey included 3,004 consumers and aimed to understand current and future shopping habits, as well as how companies can adjust their strategies accordingly.

Main Points

• Millennials as Key Drivers: Millennials (born after 1985) are set to become a major force in China's retail market. Currently, they make up 67% of the survey respondents, with an even split between those born between 1985-1989 and those born after 1990.

• E-commerce Dominance: Online shopping is a major leisure activity for Chinese consumers, with 77% of respondents identifying it as their favorite. This trend is reflected in the growth of e-commerce platforms and events like Singles' Day, which saw Alibaba record Rmb121 billion in sales.

• Omnichannel Experience: Companies are integrating online and offline operations to provide a seamless omnichannel experience. This includes the use of data analytics, social media, mobile apps, and more.

• Innovation and Technology: The demand for innovative products and services is growing, especially among Millennials. Emerging technologies such as smart cars, wearables, virtual and augmented reality are gaining popularity. The rise of the sharing economy is also influencing consumer behavior, with Millennials more open to such platforms.

• Luxury Consumption Trends: Millennials are showing a strong interest in luxury goods, with 70% expecting to increase their consumption over the next year. Affordable luxury is becoming a significant segment, as many Millennials are willing to purchase luxury items during special occasions.

• Shopping Preferences: Millennials prioritize product quality, brand image, and online feedback when making purchases. They also rely heavily on mobile devices and computers for shopping information. The report highlights that 68% of Millennials use mobile devices, and 56% use computers for this purpose.

• Post-Purchase Engagement: Consumers are more active in providing feedback after purchases, with 48% citing online feedback as a key shopping influence. Over 67% of respondents post comments on online stores, and 59% share feedback on social media platforms like WeChat.

• Challenges in E-commerce: Issues such as product authenticity, quality, and visual discrepancies between online and offline channels are top concerns. The Chinese government has introduced e-commerce regulations to address these challenges, including the first comprehensive draft in 2016 and a second in November 2017.

• Strategic Adaptation: Retailers are adapting to the changing landscape by using multi-brand strategies, KOLs for marketing, and pop-up stores. These tactics help in reaching diverse consumer groups while maintaining brand identity.

• Customer-Centric Approach: The retail industry is shifting towards a customer-centric model, where consumer data and feedback are crucial in shaping product development and marketing strategies.

Key Information

• Survey Composition: 67% of respondents were Millennials, with the rest being non-Millennials.
• Income and Spending: Millennials have an average monthly income of Rmb11,738 and spend Rmb5,565, which is less than the average for the general population.
• Shopping Frequency: 77% of respondents shop online more than once a week, and the same percentage expects to increase their online shopping frequency in the next year.
• Popular Platforms: Tmall is the most popular platform among both Millennials and non-Millennials, followed by JD.com and VIP.com.
• Luxury Trends: 45% of Millennials consider owning a designer item essential, and the demand for affordable luxury is rising due to its accessibility and affordability.

Conclusion

The Chinese retail market is undergoing significant transformation, driven by the rise of Millennials and their demand for innovation, convenience, and personalisation. Companies are adapting to these changes through multi-brand strategies, omnichannel experiences, and the integration of technology and data analytics. The future of retail in China will be shaped by a more customer-centric approach, where real-time feedback and data-driven decisions play a central role.