BIGresearch’s Q4 China Survey: Overwhelming Majority of Young
Chinese Consumers Are Confident in the China Economy
Chinese Stock Market is Hot and 88% of Young Chinese are Investing
BIGresearch’s
Q4 China Survey: Overwhelming Majority of Young
Chinese Consumers Are Confident in the China Economy
Chinese Stock Market is Hot
and 88% of Young Chinese are Investing
COLUMBUS, OH -- (MARKET
WIRE) -- 1/8/2008 – The economic mood in China among younger Chinese consumers
is strong and continues to tower over the mood of Americans the same age,
according to BIGresearch’s Q4 China Quarterly Survey. The survey was conducted
in November and 4,336 young Chinese consumers (18-34 years old) participated.
Chinese Consumers (18-34) Compared to Their American Counterparts (18-34):
· 76.2% of Chinese are confident/very confident in chances for a strong Chinese economy in the next six months compared to less than half (42.6%) of Americans.
· Attitudes on savings differ as only 16.7% of Chinese agree or strongly agree they are saving enough to meet future needs…Over a quarter (27.7%) of Americans feel the same.
· Since fewer Chinese own a vehicle they are less impacted by fluctuating gas prices… 45% say they have experienced no major impact on spending compared to only 18.5% of Americans.
· Carrefour tops the list for Grocery store among Chinese as 23.9% say they shop there most often.
· Both Carrefour and Wal-Mart Chinese consumers cite price as #1 reason for buying their groceries at a particular grocer (64.6% and 62.4%, respectively). Hualian shoppers more likely to head to a grocer because of location (61%).
· 70.9% of Chinese say fashion is less important than value and comfort compared to only 37.3% of Americans.
· Similar to Americans, Chinese consistently use media simultaneously. For example, 73.2% watch TV while online, compared to 76.2% of Americans.
· Word of Mouth becoming greater influence in China as 43.2% of Chinese regularly seek advice before buying (compared to 22.6% of Americans) and 42.8% regularly give advice to others about products and services they have purchased (compared to 44%).
· In the Electronics category, Chinese most influenced by magazines (26.1%)… Americans say Word of Mouth is most influential (52.9%).
“The
young China market continues to thrive and these consumers are well educated and
an upwardly mobile part of that success,” said Gary Drenik, President of
BIGresearch. “Young Chinese consumers, who are sometimes known as ‘Chuppies’,
are unique from their American counterparts. It is important for marketers to
recognize differences such as the rate of savings investing and media
consumption especially when developing their marketing campaigns for the China
market.”
Additional information on BIGresearch's China Quarterly may be accessed at
www.bigresearch.com/chinaq.htm.
About BIGresearch
BIGresearch is a consumer intelligence firm providing unique consumer insights
through online surveys. The China Quarterly monitors the purchasing behavior and
media consumption of more than 4,000 young adult Chinese consumers between 18-34
years old. The recently expanded China Quarterly includes more detail and
greater insights on shopping habits and media consumption. The China Quarterly
is available through BIGresearch in report or database format.
Contact:
Chrissy Wissinger
BIGresearch
450 West Wilson Bridge Road
Suite 370
Worthington, Ohio 43085
(614) 846-0146
chrissy@bigresearch.com