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AmCham lists six consumer trends in China

Updated: 2011-06-14 17:10

By Yin Mingzhe (chinadaily.com.cn)

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The American Chamber of Commerce in Shanghai (AmCham Shanghai) released on June 13 a report revealing the six fundamental trends impacting the consumer market in China, China Business News (CBN) reported Tuesday.

The research report, “China Consumer Market Strategies 2011”, was jointly issued by AmCham Shanghai and Booz & Company, an international management consulting firm. The report is based on a survey of 135 companies doing business in China.

The key trends listed include increasing use of the Internet and other mobile communications, and a change in expectations among consumers based on external exposure such as overseas trips and access to media. A third trend is the rising mobility of Chinese consumers because of major investments in roads, trains and other transportation infrastructure.

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The three other trends are: changing demographics, the evolution of the family unit and changes in work-life balance among China’s consumers.

“The race is on to win in China's emerging consumer market,” Joanne S. Bessler, a partner at Booz & Company, said. “While multinationals and Chinese companies are competing intensely in China, they are using different approaches and strategies to secure their market position.”

Chinese companies that want to become more competitive in the country’s high-end consumer market should focus more on quality, branding and service, the report also stated.

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