2021
0
China Spending Habits in Lower Tier Cities Market Report 2021
2022-01-29T03:03:18+00:00
OX1046071
3695
147494
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Report
en_GB
“Consumers in lower tier cities have demonstrated significant improvement in consumer confidence and spending power, and have not shown compromise in quality of life even under the impact of the…

China Spending Habits in Lower Tier Cities Market Report 2021

£ 3,695 (Excl.Tax)

Description

“Consumers in lower tier cities have demonstrated significant improvement in consumer confidence and spending power, and have not shown compromise in quality of life even under the impact of the COVID-19. Whether it is home life, or sports and fitness, their pursuit of technology and intelligence, fashion and trend is no less than that of consumers in big cities. Young consumers in lower tier cities are looking to brands to bring more social topics through innovative experiences with uniqueness and exclusivity. Pan-entertainment experiences that integrate culture, IP and other elements can help brands open up marketing boundaries and create more new marketing scenarios and consumption hot spots.”
Gloria Gan, Research Analyst

Key issues covered in this Report

  • Consumption and investment attitudes under the influence of COVID-19: increased awareness of investment and risk aversion
  • Requirements for home products and environments: smart home with Chinese characteristics becomes a trend
  • Consumer attitudes towards sports and fitness: integration of leisure and social attributes brings better experience
  • Spending on social interactions: expect uniqueness and atmosphere to bring more conversation
  • Shopping and leisure mode: pan-entertainment experience becomes a breakthrough point

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Objective and methodology
    • Quantitative research
      • Figure 1: The sample structure for each city is as follows:
    • Qualitative research
      • Figure 2: Interview cities in the qualitative research
      • Figure 3: Profiles of respondents to the qualitative research
  2. Executive Summary

    • Consumption and investment attitudes under the influence of COVID-19: financial management and insurance become hot topics
      • Figure 4: Changes in spending during the pandemic – Interview excerpts, 2021
      • Figure 5: Commercial insurance – Interview excerpts (positive feedback), 2021
      • Figure 6: Preferences on financial products, by age, 2021
    • Requirements for home products and environments: ‘smart’ also reflects the need for simplification
      • Figure 7: The expectation of decoration style – Interview excerpts, 2021
      • Figure 8: Preferences on home retailing brands, by age, 2020
    • Consumer attitudes towards sports and fitness: a popular social currency
      • Figure 9: The relationship between sports fitness and social and creating a persona – Interview excerpts, 2021
      • Figure 10: The relationship between sports fitness and social and creating a persona – Interview excerpts (negative feedback), 2021
      • Figure 11: Demands for athleisure products – Agree, by age, 2020
    • Spending on social interactions: expect uniqueness and atmosphere to bring more conversation
      • Figure 12: Give gifts – Interview excerpts, 2021
      • Figure 13: Inviting guests to dinner – Interview excerpts, 2021
      • Figure 14: Expectations for traditional festive food, by age, 2020
    • Shopping and leisure mode: culture and IP consumption become popular
      • Figure 15: Attractive events in shopping malls – Interview excerpts, 2021
      • Figure 16: Local themed markets – Interview excerpts, 2021
      • Figure 17: Purchased IP licensed products/services, by age, 2020
    • What we think
  3. Introduction to Lower Tier Cities in China

    • Fast rebounded consumption confidence and accelerated consumer affordability
      • Figure 18: Confidence in improving future finances – Very confident/somewhat confident, by city tier, 2020-21
      • Figure 19: Interviewed experts’ words about consumption confidence and power, 2021
    • Consumers emphasise value for money, and promotions have significant influence
      • Figure 20: Consumer Price Index, 2021
      • Figure 21: Attitudes towards price changes, by city tier, 2021
      • Figure 22: Interviewed experts’ words about spending habits, 2021
    • Domestic brands are highly accepted, and emerging brands have great potential in the market
      • Figure 23: Impression comparison between premium domestic brands and foreign brands, by city tier, 2020
      • Figure 24: Interviewed experts’ words about brand choices, 2021
    • Video livestreaming commerce is switching towards ‘unity of efficiency and effectiveness’
      • Figure 25: Attitudes towards livestreaming shopping – Strongly agree/agree, by city tier, 2020
      • Figure 26: Interviewed experts’ words about livestreaming commerce, 2021
  4. Consumption and Investment Attitudes Under the Influence of COVID-19: Financial Management and Insurance Become Hot Topics

    • No compromise on quality of life
      • Figure 27: Changes in spending during the pandemic – Interview excerpts, 2021
    • Uncertainty inspires investment awareness to survive change
      • Figure 28: Financial management – Interview excerpts, 2021
    • Needs and concerns about insurance products coexist
      • Figure 29: Commercial insurance – Interview excerpts (positive feedback), 2021
      • Figure 30: Commercial insurance – Interview excerpts (negative feedback), 2021
    • High-risk investment becomes a potential income source valued by young consumers
      • Figure 31: Preferences of financial products, by age, 2021
    • Consumers under 30 are more concerned about the potentially high cost of medical treatment for uncertain illnesses
      • Figure 32: Financial priorities – Important, by age, 2021
    • Brands introduce stored value programme to meet the demand for ‘profit through investment’ and platform/brand endorsement to provide a ‘guarantee’ for safe shopping
      • Figure 33: Winona introduced the stored value programme
      • Figure 34: Dewu provides authentication services
  5. Requirements for Home Products and Environments: ‘Smart’ also Reflects the Need for Simplification

    • A comfortable and smart ‘New Chinese’ style is welcomed
      • Figure 35: The expectation of decoration style – Interview excerpts, 2021
    • Brand awareness of household products is awakening
      • Figure 36: Attitude towards the big brands in home appliances – Interview excerpts (positive feedback), 2021
      • Figure 37: Attitude towards the big brands in home appliances – Interview excerpts (other feedback), 2021
    • Young consumers prefer original brands that reflect their individual lifestyles
      • Figure 38: Preferences on home retailing brands, by age, 2020
    • Young consumers seek happy experiences in multi-aspects of home life: indulgence, DIY and individual expression
      • Figure 39: Household spending intentions, by age, 2020
    • Innovative design that better understand the Chinese consumers and provide an all-round comfortable living solution
      • Figure 40: BORCCI
      • Figure 41: Offline Experience Centre of Buydeem
  6. Consumer Attitudes towards Sports and Fitness: A Popular Social Currency

    • In addition to improving self-image, consumers also seek an interest-based social circle of like-minded people
      • Figure 42: The relationship between sports fitness and social and creating a persona – Interview excerpts, 2021
      • Figure 43: The relationship between sports fitness and social and creating a persona – Interview excerpts (negative feedback), 2021
      • Figure 44: Dance studio in Ji’an, Jiangxi and gym in Bengbu, Anhui, 2021
    • Fitness spawns complementary digital products, while food and beverage products become fashionable
      • Figure 45: Buy sports and fitness related products – Interview excerpts, 2021
    • Improve service quality and launch creative co-branding to help attract younger consumers
      • Figure 46: Influential factors for purchasing, by age, 2020
    • Older consumers seek the experience and trendiness created by smart technology
      • Figure 47: Demands for athleisure products – Agree, by age, 2020
    • Combining entertainment, social and sports spaces and coupling with game experience to create buzz
      • Figure 48: The Dalian Champions Stadium
      • Figure 49: Adidas Neo collaborated with Ubisoft’s “Just Dance” to launch in-game radio gymnastics track “Youth is Calling”
  7. Spending on Social Interactions: Expect Uniqueness and Atmosphere to Bring more Conversation

    • The evolvement of gift-giving concept: from ‘suit one’s liking’ to expressing a unique relationship
      • Figure 50: Give gifts – Interview excerpts, 2021
    • A speciality restaurant with a delightful overall ambience is better for creating great memories
      • Figure 51: Inviting guests to dinner – Interview excerpts, 2021
      • Figure 52: Zhuangyuanlou Restaurant in Ji’an, Jiangxi
    • Festive food innovations in fun, eco-friendly packaging appeal more to younger consumers
      • Figure 53: Expectations for traditional festive food, by age, 2020
    • Male consumers in their 30s prefer original and customisable design gifts to show their personal relationship
      • Figure 54: Gifting priorities when buying gifts for friends, by age, 2020
    • Leveraging cultural elements and regional cross-category collaboration to create a scarcity experience
      • Figure 55: The Black Wizard launched Whisky Custard Mooncake Mid-Autumn Luminous Gift Box, 2021
      • Figure 56: The Fengjie Baidi Orange Gift Box by Chijia Group, 2020
  8. Shopping and Leisure Mode: Culture and IP Consumption Become Popular

    • Marketing activities that offer entertainment experiences and themed fairs with cultural elements are more attractive
      • Figure 57: Attractive events in shopping malls – Interview excerpts, 2021
      • Figure 58: Local themed markets – Interview excerpts, 2021
      • Figure 59: Xinguang Shopping Park in Ji’an, Jiangxi, 2021
      • Figure 60: Night Market in Liaocheng, Shandong, 2021
    • Blind box marketing can’t be “all blind”
      • Figure 61: Blind box – Interview excerpts (positive feedback), 2021
      • Figure 62: Blind box – Interview excerpts (negative feedback), 2021
      • Figure 63: Gift packs and blind boxes with the national style theme sold in Qiqihar, Heilongjiang, 2021
    • Consumers in their 30s are more interested in variety shows with additive effect
      • Figure 64: Brand marketing activities, by age, 2020
    • Sophisticated beauty products that cooperated with IP are more favoured by young consumers
      • Figure 65: Purchased IP licensed products/services, by age, 2020
      • Figure 66: Beauty product displays in an official store in Qiqihar, Heilongjiang, 2021
    • Brands expand circle of influence with pan-entertainment activities such as IP short film and Room Escape
      • Figure 67: Perfect Diary cooperated with Douyin to create “Queen’s Playlet”
      • Figure 68: Midea’s Jidi Escape Room pop-up store, 2021
  9. Appendix

    • Abbreviations

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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.

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