Daxue Consulting’s Consumer Research in China leverages various methodologies:
The Chinese market is growing rapidly for foreign firms; at the same time, it is also presenting more of a challenge due to the fickle sophistication of its consumers. The complexity of the Chinese Consumer market leads Daxue Consulting to develop its Consumer Research China solution.How much China spends is striking; even more so is the way it spends. This is now one of the world’s most sophisticated consumer markets, heavily skewed towards expensive goods. Big shopping malls are constantly built up not only in major cities but also low-tier urban areas, where the per capita purchasing power growth is the higher. Another striking trend in China is the shift towards shopping online and on mobile. According to researchers, the number of consumers who are using mobiles to make purchases online has rapidly grown – everywhere in China. China has over one billion smartphone users, and almost 90% have bought goods via a mobile phone. quality compared to local ones. Significant growth of about 30 percent cross-border e-commerce imports into China in 2016 reached CNY 1.25 trillion and had similar growth expectancy in the year 2017. There has been a steady demand for goods such as cosmetics, skincare products, electronics, maternal, baby products, clothes, shoes, accessories, jewelry, food, and other commodities which are undermining trust and pushing consumers towards overseas brands. Daxue Consulting, through our extensive knowledge of the Chinese market and consumer, is here to provide you with the information needed to succeed.
Another key trend to target Chinese consumers is the segmentation between the most and less urbanized areas and the increasing purchasing power in tier-3 to -5 cities. In Tier-1 and Tier-2 cities, a rising number of Chinese consumers are prioritizing greater value, integrity, and quality in the products they purchase. This represents a notable change from what has traditionally been seen as a price-driven market. In smaller but quickly growing Tier 3 and Tier 4 cities, price consciousness is still an important factor, but the choice of available products has significantly increased.
This provides consumers with a wider range of purchasing options than ever before and has created an increasingly competitive environment for companies. Furthermore, consumers on the higher-end of Tier-3 and Tier-4 cities are quickly taking on the behavior of their counterparts in Tier-2 cities, and it’s estimated that it will be a short time before the distinctions in these tiers disappear, at least in some regions.
This is especially important when foreign companies coming to Shanghai, one of the most dynamic and multi-layered markets, and aspires to benefit from its huge market and thriving economy. To study consumer behavior is to study individuals, groups or organizations. The further analysis focuses on the processes they use to select, secure and dispose of products, services, experiences or ideas to satisfy needs and attempt to understand the decision-making processes of buyers. It requires the systematic gathering, recording, and analysis of quantitative and qualitative data based on which information is collected to provide facts, directions, and insights to grow a business. Since a key aspect of running a successful business is getting a good sense of what consumers want and how they perceive your products, Consumer Research China becomes a crucial solution to use in business prosperity as well as introducing products and services that create value in the mind of the consumer. Undeniably, consumers can be unpredictable and fickle as they are interacting and engaging with a vast variety of sophisticated marketing platforms and brands.
Consumer research is about people.Its aim is to know what consumers see, what they buy, what they drink, what they think, and how they act &react; and further, to know the reasons behind the whats and hows.
While you need insights to make well-informed decisions, Daxue Consulting’sConsumer Research China is aiming to provide the most accurate and relevant information on your potential customers. Daxue Consulting regularly conducts consumer research in different cities within China, including the first-tier cities such as Beijing, Shanghai, Guangzhou, Shenzhen and second-tier cities such as Dalian, Harbin, Shenyang, etc.
Not only do we source and collect consumer research data through interviewing, store checks, online surveys, and research – synthesis of internal documents, imports from government website portals and trustworthy databases are also useful. We understand the data, provide the data you can trust, and the key findings that can guide your thinking to support your argument and confirm your hunch.
Daxue Consulting Consumer Research China is not just about knowing the numbers; we focus on how these numbers fit with everything else that we know. Using this information, we can predict market trends, changes in technology or help inspire your ideas. Above all, Daxue can provide you with insight about your consumers that you may not have considered before.