This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in China.
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Overview:
Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries.
The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.
The Consumer Lifestyle in China report includes:
Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented
The Consumer Lifestyle in China report answers:
- How is the consumer mindset in China changing? In China, what are consumer attitudes towards “green” and sustainable products?
- What values influence consumers in China purchase decisions?
- Where and how do consumers shop in China?
- What health-related activities do consumers in China participate in?
- What megatrends should I focus on in China (and why)?
- How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
- My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Businesses harness megatrends to renovate, innovate and disrupt
The drivers shaping consumer behaviour
Megatrends framework
Convenience will remain a priority, supported by digital innovation
Convenience
Airmeter breaks down cooking barriers for Chinese consumers with pasta recipe kits
Millennials are most willing to invest money to save time
Chinese aspire to achieve better balance between work and leisure
Gen Z values instant gratification when making in-store purchases
Gen Z prioritises customisation opportunities when shopping online
Consumers look for more convenient meal solutions
Digital living
OPPO launches China’s first AI-enabled phone
Smart technology helps to speed up everyday tasks
Internet users are protective of their personal data
Elder consumers are the most open to receiving targeted offers online
Personal recommendation remains the top source of information
Consumers expect more face-to-face activity in future
Diversity and inclusion
LUX aims to empower Chinese women through baby-naming campaign
Chinese are more reserved about expressing their opinions publicly
The sense of community is strong among the Chinese
Millennials are the most comfortable with expressing their identity
Brand trust is important to Chinese consumers
Experience more
Lego promotes creative play with immersive experience stores
Socialising is important to Chinese, both online and offline
Chinese travellers are placing greater importance on immersing themselves in local cultures
In-person moments are the most appreciated
Personalisation
DeRucci’s AI-enabled mattress allows users to personalise sleep
Younger consumers are more cautious about sharing their personal data
Millennials are more likely to look for personalised experiences
Premiumisation
Freshippo launches new high-end format with premium private label
Consumers seek simplicity and uniqueness
Shoppers become more discerning
Consumers pay more attention to health claims
Pursuit of value
Discount shopping app Pinduoduo enjoys meteoric growth
Gen X are among the most frugal shoppers
China remains sheltered from global cost-of-living crisis
Repurposing movement gains traction
Consumers plan to spend more on food and drink
Shopper reinvented
Alibaba uses generative AI to optimise the Tmall shopping experience
Celebrity endorsements hold much sway with Chinese consumers
Shift towards e-commerce affects all sectors, with notable exception of large appliances
Social commerce is highly popular
Millennials are the most likely to shop via social media platforms
Sustainable living
Resale platform Idle Fish drives repurposing movement
Conscious consumerism is on the rise
Sustainability plays a growing role in product choice
Chinese still lag behind rest of world in adopting greener lifestyles
Consumers are starting to hold brands to account
Consumers show a preference for recyclable packaging
Wellness
Mistine upgrades sun protection formula in response to consumers’ safety concerns
Increase in sleep disorders drives demand for sleeping aids
Consumers increase their use of health tech
Consumers continue to pay attention to personal safety
Leverage the power of megatrends to shape your strategy today
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Gain a thorough knowledge of shifting consumer attitudes and habits and fill in information gaps to inform product/service development, market positioning and channel strategy.
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