2022
0
China Fan Economy Market Report 2022
2022-03-05T03:02:05+00:00
OX1100947
3695
148463
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Report
en_GB
“Today’s more sophisticated Chinese consumers are seeking a deeper connection with brands beyond products and are growing to become brand fans. The job of brands is not only informing consumers…

China Fan Economy Market Report 2022

£ 3,695 (Excl.Tax)

Description

“Today’s more sophisticated Chinese consumers are seeking a deeper connection with brands beyond products and are growing to become brand fans. The job of brands is not only informing consumers of the latest trends, but also providing a sense of companionship and reflecting their values and personality. In response, brands have the chance to initiate more charity/sustainable activities and strengthen their brand images as caring brands, while showcasing transparency around both strengths and weakness and further involving brand fans in co-creation to make brands appear more approachable.”
– Yuxi Shao, Research Analyst

This Report looks at the following areas:

  • Innovative marketing activities that help brand build fans
  • Brands with considerable brand fans
  • What makes a brand popular
  • Typical behaviours of brand fans
  • Appealing interactions with brands
  • Unfavourable factors towards brands
  • Current brand-consumer relationships and expectations

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Covered in this Report
  2. Executive Summary

    • The market: key market factors
    • High willingness to try new things poses challenges for building brand loyalty in China
      • Figure 1: Tendency of switching and persistency, 2020
    • New way of leveraging fan economy redirects consumer passion from real-life to virtual idols
      • Figure 2: Attitudes towards celebrity endorsement, by age, 2021
    • Purchases as an extension of personal tastes and self-identity
    • Companies and brands: what’s working?
    • Big brands: from leading innovations to driving good values
    • Legacy brands: projecting a modern image without losing brand equity
    • Lifestyle brands: be vocal about values and life aspirations
    • The consumer
    • Long-standing brands generally outperform in brand loyalty
      • Figure 3: Top 10 favourite brands in each category, 2021
    • Brand value figures highly in driving affinity
      • Figure 4: Preference factors, 2021
    • Long-time loyal fans could still be sensitive to price
      • Figure 5: Behaviours of brand fans, 2021
    • New product review activities give brand fans a sense of exclusivity
      • Figure 6: Ways to interact with one’s favourite brand, 2021
    • Poor innovation and lack of engagement on social issues could also severely impact brand image
      • Figure 7: Unfavourable factors, 2021
    • Brands are expected to provide a greater variety of experiences
      • Figure 8: Attributes associated with and expected from favourite brand, 2021
    • What we think
  3. Issues and Insights

    • Devotion to sustainability represents forward-looking brand values
    • The facts
    • The implications
      • Figure 9: Blue Sky Lab, 2022
      • Figure 10: Stan Smith Mylo, 2022
      • Figure 11: Upcycle by Miu Miu, 2022
    • Being transparent about both strengths and weakness makes brands more approachable
    • The facts
    • The implications
      • Figure 12: Xiaozhuo price tag, 2022
      • Figure 13: ‘FCK, We’re Sorry’ campaign, 2018
    • Co-creating to let brand fans’ voices be heard and appreciated
    • The facts
    • The implications
      • Figure 14: Co-creation project of HomeFacialPro, 2020
      • Figure 15: Ikea’s “Let’s Play for Change” campaign, 2022
  4. Market Factors

    • Chinese consumers generally show high openness to new trends and choices
      • Figure 16: Tendency of switching and persistency, 2020
    • From real-life to virtual celebrities, brands are looking for different ways to capitalise on fan economy
      • Figure 17: Attitudes towards celebrity endorsement, by age, 2021
    • Rising needs in self-identity drive the development of Buydeology
  5. Marketing Activities

    • A caring brand, not just an innovative brand
      • Figure 18: Huawei Cloud medical healthcare solution, 2022
      • Figure 19: Alipay’s “Blue Wind Chimes” program, 2022
      • Figure 20: The work uniform of Meituan food delivery riders, 2021
    • Legacy brands still need to stay relevant
      • Figure 21: Tiffany’s “About Love” Campaign, 2021
      • Figure 22: “Year of the Tiger” Limited Bottle, 2021
      • Figure 23: “Taller” Want Want Milk, 2021
    • Inspire consumers’ way of life
      • Figure 24: Uniqlo Flower Store, 2021
      • Figure 25: “Muji Verse”, 2021
      • Figure 26: ToSummer products, 2022
      • Figure 27: Saturnbird’s “Project Return”, 2021
  6. Favourite Brands

    • Long-established brands generally stand out
      • Figure 28: Favourite brand, word cloud generated by open-end, 2021
    • Brand loyalty is strongly correlated to market share
      • Figure 29: Top 10 favourite brands in each category, 2021
      • Figure 30: Favourite brand, word cloud generated by open-end, by category, 2021
  7. Preference Factors

    • Besides product performance, brand power is also emphasised
      • Figure 31: Preference factors, 2021
    • Beauty brands rely more on brand value, technology brands more on innovativeness
      • Figure 32: Preference factors – Ranking first, by brand category, 2021
    • Young generation more value-oriented in their brand selection
      • Figure 33: Preference factors – Ranking first, by age, 2021
  8. Behaviours of Brand Fans

    • Even long-time fans can be price sensitive
      • Figure 34: Behaviours of brand fans, 2021
    • Eagerness to own new launches is similarly high across different categories
      • Figure 35: Selected behaviours of brand fans, by brand category, 2021
    • High-level brand fans show higher engagement with brands, but similar price sensitivity
      • Figure 36: Selected behaviours of brand fans, by preference factors, 2021
  9. Interaction with Brands

    • Providing consumers with a sense of exclusivity and belonging
      • Figure 37: Ways to interact with one’s favourite brand, 2021
      • Figure 38: Ways to interact with one’s favourite brand – TURF Analysis, 2021
    • Beauty brand fans resonate well with new product trials and experiential activities
      • Figure 39: Selected ways to interact with one’s favourite brand, by product category, 2021
    • Charity and sustainable activities particularly appeal to high-income consumers
      • Figure 40: Ways to interact with one’s favourite brand, by monthly household income, 2021
  10. Unfavourable Factors towards Brands

    • Price increases, failure to innovate and lack of engagement on social issues could also alienate consumers
      • Figure 41: Unfavourable factors, 2021
    • Be careful with price increases in certain sectors
      • Figure 42: Selected unfavourable factors, by brand category,2021
    • Unprofessional salespeople, wrong choice of celebrities and “brainwashing” advertising turn off young consumers
      • Figure 43: Unfavourable factors, by age, 2021
    • Engaging with social issues especially matters for high-level brand fans
      • Figure 44: Selected unfavourable factors, by preference factors, 2021
  11. Relationship with Brands

    • Brands need to become more experiential
      • Figure 45: Attributes associated with and expected from favourite brand, 2021
    • Consumer expectations vary by product category
      • Figure 46: Selected attributes expected from favourite brand, by brand category, 2021
    • Key analysis of leading brands by sector
    • Apple outperforms in introducing new trends and Huawei in value resonation, while Xiaomi needs improvement
      • Figure 47: Attributes associated with favourite brand, by selected brands, 2021
      • Figure 48: Attributes associated with and expected from favourite brand, by selected brands, 2021
    • Nike and Adidas maintain leadership in design but can be more experiential
      • Figure 49: Attributes associated with favourite brand, by selected brands, 2021
      • Figure 50: Attributes associated with and expected from favourite brand, by selected brands, 2021
    • Estee Lauder is expected to do better in introducing trends and matching values
      • Figure 51: Attributes associated with and expected from favourite brand, by selected brands, 2021
    • Ikea, the home industry leader, can be more experiences-driven to further boost brand power
      • Figure 52: Attributes associated with and expected from favourite brand, by selected brands, 2021
  12. Appendix – Methodology and Abbreviations

    • Methodology
    • Abbreviations

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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