What Is The Cause Of The Soaring Consumer Market In China?

Much of the current research focuses on the relationship between Chinese consumers and domestic and foreign brands, or the macroeconomic role of the Chinese economy as a driving force.

However, greater social and cultural factors are also driving consumer spending.

US media said China is the largest and fastest growing consumer market in the world.

It's not enough to let consumers like your brand.

Consumption must also respect these deep social and cultural impulses.

But people do not particularly understand the power of consumerism that affects the world's largest population.

Is this just self indulgence and materialism? China

What are the differences between Western consumers?

First, consumerism is a kind of freedom.

Having choices means consumption choices.

Your consumption represents you.

Consumption is a kind of self expression.

It enables people to explore the world through products, try various ways of life, and do it safely and anonymously.

People may never have been to France, but they can try French wine.

California may be a bit scary, but you can go to Disney Park, Shanghai.

It is only twenty or thirty years since China got rid of poverty.

In fact, the enthusiasm for choice reflects the enthusiasm of Chinese consumers for online shopping: China's large shopping websites such as Tmall, Taobao and Jingdong have hundreds of millions of commodities to choose from the products of family stores to the largest.

Electronic products are available.

Two, consumerism is a declaration of success.

Thorsten Veblen, an American economist, has made the concept of "ostentatious consumption" popular.

When consumption is no longer driven by needs alone, it becomes a way of expressing attitudes. It shows that people have disposable income and can enjoy their life as they wish.

Simple pleasures, such as a pair of Nike shoes, a smart phone or a fashionable dress, are all personalities.

Why is this pattern the most obvious among young consumers? They are the ones who emit and accept "market signals".

The largest single bar in the world is the pedestrian street in Shanghai.

If you want to take a walk there, you may as well wear your best clothes.

Three, the victory of "I" ism.

My doctrine is different from selfishness, but a kind of independent action.

The one-child policy means that most Chinese do not have brothers or sisters. Their next generation will have no aunt, uncle, uncle or cousin.

There must be no problem shopping for yourself.

No one will buy it for you.

This factor is more apparent in China's singles day, the anti Valentine's day in November 11th, which turned into a consumption boom.

This year,

The giant Alibaba gets nearly $17 billion 800 million in online pactions on its annual singles day.

Four, collective experience.

People like to take part in group activities.

FOMO is spanning culture.

But I suspect that this trend is stronger in China than in the west, because Confucian culture does not praise the outliers as the West does.

Social media has consolidated this collective pattern, making shopping and eating a common experience.

Opinions are crowdsourcing.

Businesses strengthen this pattern by supporting holiday consumption, group buying and other sales activities.

Consumers themselves organize to investigate, and so do brands.

Sociologist Eric Frome pointed out that when people have the ability to become what they want to be, they want to be like others.

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