Ten years ago, when Accenture established the China Consumer Insights Research Project, it advocated studying the Chinese consumer market from the four dimensions of technological evolution, urbanization, population generation and social values. Today, we still adhere to a multi-dimensional perspective, understand the changes in people's lifestyle behaviors and consumption behaviors, and explore the internal reasons for the changes and future trends.
Accenture will conduct a Chinese consumer survey in June 2021, covering first to fifth tier cities. The survey found that under the combined influence of long-term trends (slowing economic growth, aging population, deep penetration of technology) and short-term drastic changes (impact of the epidemic), people’s inner conflict has intensified, their anxiety has increased, their consumption concepts have become more rational, and their thinking has become more dimensional. More diverse: Struggle is still the main theme, but more emphasis is placed on family and health; both immediate happiness and long-term happiness are needed.
The economic scale for the whole year of 2021 shows that the scale of China's consumer market has exceeded the level of 2019, reaching 44 trillion yuan, and consumption has once again become the first driving force for economic growth. Consumer confidence has recovered somewhat and is above the 2020 average, but remains volatile. Looking forward to 2022, the National Two Sessions once again emphasized the implementation of the strategy of expanding domestic demand. It is expected that consumption will continue to recover this year under the dual influence of economic stability and policy guidance. China's consumer market has entered a new stage of steady growth. Companies also need to shift from extensive expansion to refined operations, deeply understand demand changes, and build basic capabilities in order to continue to provide consumers with goods and services that truly meet their needs.
Accenture’s 2022 Chinese Consumer Insights uses five major trends as the entry point to analyze the diverse value demands of Chinese consumers and reveal an increasingly mature consumer society to readers.
"Me" economy: With the popularization of smart devices and the rapid development of e-commerce platforms, the decision-making power of household consumption returns to individuals. "One person has one shopping cart", consumers' "self-awareness" has become increasingly clear, and consumption has become a way for people to shape their personal style. When making shopping decisions, you value your own internal needs more than external opinions and evaluations.
New Rationalism: After the outbreak of the epidemic, consumers examine their needs more strictly, actively restrain their consumption impulses, and take longer to think and make decisions; they pay more attention to the essence of goods, conduct multi-party comparisons, and conduct in-depth research, and regard the selection process as the basis of their consumption experience. An important part of. Domestic brands and international brands have entered the era of "strengthening internal strength".
Master of time: As living standards rise and optional services increase, people gradually begin to pursue a balance between work and life, pay more attention to the value of time, and are willing to pay for convenience. At the same time, people desire quality leisure and pursue cultural enjoyment and growth experience, but the "leisure consumption" scenarios provided by the market are far from sufficient.
Symbiosis with technology: Chinese consumers have an overall open and positive attitude towards digital technology , and smart life has become normalized. While consumers are enjoying the convenience brought by technology, they are increasingly paying attention to issues such as health, privacy and security, and their demand for humanized services is also increasing.
Sustainable prosperity: More and more Chinese consumers think environmental protection is cool and fashionable, and are aware of the importance of sustainable development and are willing to spend energy and money on environmental protection. At the same time, consumers also expect the government and enterprises to play a greater role in providing low-threshold and interesting environmentally friendly options.
Looking into the future, China’s consumer market, which has the world’s largest middle-income group, has huge growth potential. Chinese consumers are maturing rapidly, becoming more rational and independent, and their pursuit of products, experiences, and long-term value is constantly increasing. Enterprises need to focus on human needs, think about the mission value of the enterprise from a more macro perspective, gain insight into consumers' inner desires, continue to innovate, and adapt to the changing needs of consumers. Only in this way can we cultivate long-term and tenacious consumer relationships , enhance consumers' confidence in enterprises and brands, and thus win long-term high-quality development.
pictures come from the Internet
