Top 10 Consumer Trends in China in the Upcoming Decade
“Better to say OOP than WHAT IF”
Truer words has never been spoken. What is that oomph factor that a business looks for? How can they become the trend of the century?
According to Geoffrey Moore, “Marketing has long known how to exploit fads and how to develop trends”.
This says a lot about how marketing strategies do have an impact on consumer behavior all over the world. Consumption patterns can be changed and developed, shaping consumer behavior is a real challenge but something that an ambitious business can take into account.
This does remind of what Tyra Banks once said, “Vogue, has the power to make and break-whether its fashion trends, designers, models, and yes, even industry practices”
If there is anything that you cannot overlook is the power to make or break the trends. But the question arises, is it the businesses setting the trends these days or is the KOL?
Roleplay of KOL and KOC
KOL, stand for Key Opinion Leader, is known as the filter cutter (influencers) that sets authentic trends for the advertising industry. Currently, advertising is the leading industry for every other domain so consumer trends are highly dependable on it as well. KOL is the real deal-breakers, consumer relies on them to provide the “point of view” and, yes, they are the trendsetters as they target the specific demographics.
For instance, a Chinese influencer promoting a book on their YouTube channel will recommend using Chinese translation services to his/her followers to promote the translation service agency. It’s all about branding via micro-KOLS, reaching the audience with an open window. This practice is based on KOC (Key Opinion Customers).
5 W’s of Global Trends in China
With the influencers rocking the advertising and business world, markets are evolving. One of the most evolved global markets is in China. You can’t just overlook the continuous growth of Chinese market. Who is buying, what they are buying, when they are buying, where they buy and why foremost shapes the consumer trends. Keeping these 5W’s in mind let’s find out the exclusive top consumer trends that will shape the upcoming trend;
1. The Demographics
How can you identify which set of the consumer is the trendsetter? Consumer behavior depends on certain demographic features such as age, gender, marital status, etc. in China the majority of consumers are middle-class income. They shape the buying pattern.
According to stats, 65% of households are represented by the middle class. The economy in China is strongly driven by these demographics. And the settlement of people from rural to urban areas does bring a certain impact on changing the market trend (as it affects the resources).
2. Age Factor
Traditionally old is gold, but old age needs to be taken into account for shaping trends. Medical and healthcare industries are prospering to the fact; the senior citizen is increasing in number. They are less likely to travel, shop and dine or wine.
Will it reshape the buying pattern? For a specific age group, it will. As the main needs derived are basic not for luxury purpose. For instance, an old employer won’t be requiring Chinese translation services for his work, rather he will be thinking of retiring and handing over the task to his protégé. Why? Because work is not his priority anymore.
3. Personalization Is Appreciated
Is the consumer interested in self-care products? Absolutely!
With the accessible technology, the excessive use of mobile apps has driven consumers towards personalization (customizing products and services). Either it’s a beauty product, sports, food or travel, they want every service/product accordingly.
The era of digitalization is empowering the consumer needs at a higher rate. The role-play of KOL is important here as they help brands cater to followers and increase the business trend.
4. Healthier Lifestyle
Fitness regimes, these days are taking the market in an uptake roar. Celebrities, global influencers, business giants, are persuading people to move towards a healthy lifestyle. Taking a balanced once considered to be a luxurious way of life is now considered to be a desirable want.
Because of the increasing trend, brands are opting for maximizing the solutions in the main categories of food, health, fitness, and sports. After all Chinese are quite particular about their lifestyle. Somewhat around 45% of Chinese consumers are already leading a healthy lifestyle.
5. Gender Role Play
Females are notorious for shopping sprees. But in the business world, female consumers have now taken the role-play of KOC (as mentioned earlier) and have a large impact on the upcoming generations. Brands need to target the right person for the target demographic. Lack of awareness is a serious loss.
Female empowerment is on the rise, so brands need to tackle their movement and bring major endorsements. Female standard of living in china is different than other cultures, even 30% of them feel marriage is not necessary to move forward in life, so likewise, business needs to keep an eye on such cultural impacts in terms of gender.
6. Video Consumption
Want a review of a product? Watch a YouTube video.
Want to see humorous reactions on music videos, movies etc.? Watch videos. Such trends have taken an uprising. Thanks to YouTube channels, videos are more diversified and is acting like a magnet for consumers. Recently language trend videos with catchy content present in a funny way are targeting businesses and consumers.
Even translation agencies are catering to branding by sponsoring influencers and creating awareness of the translation services and its advantages.
7. Online to Offline
The online purchasing trend is high in the Chinese market. Consumers are more likely to move away from the in-store experience. The convenience of online availability has evolved the global market in advance. Chinese travelers are using mobile payments, localized payment and customer services (thanks to Chinese translation services) in foreign countries.
Innovating shopping (virtual shopping) is the new trend, where the need to visit the actual store is being diminished due to virtual stores. Certain courier services are earning a great deal and are also increasing the shipments.
8. Relevant Media
The Internet is a wide domain for web surfing. A consumer will not stick only to the website to buy a product, instead he will access every relevant media that is promoting the product. Unanimous platforms are evolving into multiple networks, for instance, social media networks, and key influencers (KOC) help brands optimize their search and consumer demographics.
So brands should keep the perspective in focus when investing in ads and such mobile platforms.
9. Western Culture
It’s been a while now, western culture played a key role in shaping various consumer needs. Similar to the trend now, the culture of China is also influenced by it. These two forces shape and change the consumer’s attitude towards products and lifestyles.
China’s open policy has taken a turn on the policies and technology industry. Due to technological advancements had opened doors to western culture and businesses. Promotions take place encouraging and strengthening the native culture.
10. Live to Stream
One of the fastest emerging trends is live streaming. This marketing trend is rewarding in many ways such as engaging a large number of followers. Even on online bestselling sites, it’s becoming the fastest approach to reach millions of users, for instance, Alibaba’s is showcasing this feature to promote exclusive sales (time-limited offers).
This has a psychological effect on the consumers, contouring the impulsive buying behavior of consumers based on influencers or sites’ goodwill.
Penny for a Thought
With plenty on their plates, businesses keep changing their marketing strategies once consumer buying behavior changes. Trends will fade with time, but they do set fads and temporary fame which attracts millions of consumers.
Agencies working with experts in various industries understand the importance of the upcoming trends and structure their business plans accordingly.