BIGresearch China Quarterly: Less Than Half of
Young Chinese Confident in Their Economy
Despite Decreased Confidence, Chinese Travel Sector Continues to Boom
BIGresearch China Quarterly: Less Than Half of
Young Chinese Confident in Their Economy
Despite Decreased
Confidence, Chinese Travel Sector Continues to Boom
COLUMBUS, OH – (MARKET WIRE) – 2/3/09 – As young Chinese consumers ring in the
Year of the Ox, which typically symbolizes renewal and rebirth, hopefully
they’ll find a revitalized hope for the future of their economy. Less than half
(47.4%) of Chinese consumers 18-34 are confident/very confident in their
economy, according to BIGresearch’s (http://www.bigresearch.com)
most recent China Quarterly (4,328 participants). Although the young Chinese
continue to have more confidence in the Chinese economy than their American
counterparts do in the U.S. economy (26.5%), confidence is a striking 37.8%
lower than one year ago (v. 76.2%, Q4 2007).
Although consumer confidence is down, vacation travel is thriving. 66.3% of
young Chinese travel in their leisure time and 40.9% take two or more trips a
year. Of those planning to travel in the next six months, 43.5% will hit the
rails, while 38.9% will fly the friendly skies. Many of these travel plans were
for the recent Chinese New Year celebrations.
Young Chinese
Consumers (18-34) Versus Young American Consumers (18-34)
· More young Chinese consumers predict layoffs than last quarter; 66.1% expect more layoffs in the next 6 months (compared to 39.9% Q3 2008). This compares to 57.3% of young Americans who feel the same about U.S. employment environment.
· 15.7% of Chinese agree/strongly agree that they are saving enough to meet their future needs, compared to 28.3% of Americans saying the same.
· When looking for a new cell phone, the top three features Chinese consumers want: caller ID (89.9%), an address book (86.9%) and text messaging (85.5%). Top three for Americans: caller ID (68.7%), text messaging (65%) and color screens (60.9%).
· Simultaneous media usage for young Chinese is more prevalent than in the U.S., making it difficult to rely solely on traditional media. An example: 63.8% of Chinese read the newspaper while listening to the radio, compared to 43.4% of Americans.
· Media influence varies by the retail category among young Chinese. Electronics purchases are influenced most by in store promotion (28%), Broadcast TV (22.9%) and cable (20.4%). Grocery purchases are influenced most by in store promotions (32%), coupons (25.2%) and word of mouth (21.7%).
For
complimentary data and charts:
http://www.prosperchina.com/big.htm
Source: BIGresearch, China Quarterly Q3 2008, Q4 2008; CIA Oct 08, Dec 08 and
SIMM 13
About BIGresearch
BIGresearch is a
consumer intelligence firm providing analysis of behavior in areas of products
and services, retail, financial services, automotive, and media.
The China Quarterly monitors
the purchasing behavior and media consumption of more than 4,000 Chinese
consumers, focusing on consumers between the ages of 18-34 years old. The China
Quarterly is available through BIGresearch in report or database format.
BIGresearch conducts
the biggest surveys with sample sizes from 4,000 to 15,000 and employs unique
computer intensive statistical methods to give highly accurate consumer
information with a margin of error of +/- 1 percent.
http://www.prosperchina.com
Contact:
Chrissy Wissinger
BIGresearch
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Suite 370
Worthington, Ohio 43085
(614) 846-0146
chrissy@bigresearch.com