2024
0
China Technology Products Retailing Market Report 2024
2024-05-14T13:01:37+01:00
REP38C41B17_A07B_4C46_AC11_318F0AD1AF28
3695
172970
[{"name":"Retail","url":"https:\/\/store.mintel.com\/industries\/retail"},{"name":"Technology","url":"https:\/\/store.mintel.com\/industries\/technology"}]
Report
en_GB
The consumer electronics industry is in a period of recovery and adjustment. Faced with intense competition on price and functionality, technology brands should adapt their strategies to centre product quality…

China Technology Products Retailing Market Report 2024

£ 3,695 (Excl.Tax)

Report Summary

The consumer electronics industry is in a period of recovery and adjustment. Faced with intense competition on price and functionality, technology brands should adapt their strategies to centre product quality and experience, satisfying consumer demands for tech products and brands to deliver long-term value.

Toby Xu, Analyst, China Insights

Table of Contents

  1. Executive summary

    • Key issues covered in this Report
    • Definition
    • What you need to know
    • The market
    • Market overview
    • Market factors
    • Companies
    • Market highlights
    • The consumer
    • Consumers favour online channels for entry-level products, but shop offline for more expensive items
    • Graph 1: technology product purchase behaviours, 2023
    • When selecting purchase channels, product quality and after-sales services are top considerations
    • Graph 2: technology product purchase channels, 2023
    • Shopping platforms and official brand sites are key sources of information; professional and entertainment-oriented platforms should not be overlooked
    • Graph 3: technology product information channels, 2023
    • Punchy and interactive content is more likely to engage consumers
    • Graph 4: interest in content format, 2023
    • Consumers are most impressed by concise and truthful reviews and recommendations
    • Graph 5: content influencing purchasing decisions, 2023
    • Consumers want to make sensible spending decisions but also choose products that align with their values
    • Graph 6: technology product purchasing habits, 2023
    • Issues and insights
    • What we think
  2. The market

    • Market overview
    • The consumer electronics industry is making a recovery while awaiting a new cycle of growth
    • Market factors
    • Electronic information manufacturing is picking up as domestic development accelerates
    • Graph 7: total added value of the electronic information manufacturing industry, 2022-23
    • Generative AI is expected to revolutionise technology products and retail experiences
    • Expand outdoor uses for technology products
    • Graph 8: ways to relieve stress, 2020-23
    • With employment figures yet to show significant improvement, spending remains cautious
    • Graph 9: features of an ideal job, from pre-pandemic to 2024
    • Graph 10: surveyed urban unemployment rate by month, 2019-23
    • Spending on technology products has picked up but willingness to upgrade has not
    • Graph 11: planning to spend more on upgrading technology products (ie buying more expensive brands or products), 2021-24
    • Graph 12: sectors where consumers have spent more money than in the previous month – technology, 2022-24
  3. Companies

    • Market highlights
    • Boost emotional resonance by exploring the stories held in old devices
    • The New Year offers a great opportunity for brands to project positive energy
    • Cross-sector and cross-platform; refreshing the product purchase experience
    • Embrace the outdoors to appeal to a wider audience
    • Focus on the digital demands of older people
  4. The consumer

    • Purchasing journey for technology products
    • Consumers are spending on both essential and budget technology products
    • Graph 13: technology product purchase behaviours, 2023
    • Recognise the consumption potential of older consumers
    • Graph 14: have purchased the following technology products in the last 12 months, respondents aged 50-59 vs total respondents, 2023
    • Consumers favour online channels for entry-level products, but shop offline for more expensive items
    • Graph 15: purchasing journey for technology products, 2023
    • Consumers often browse offline before purchasing online
    • Graph 16: purchasing journey for technology products, 2023
    • When selecting high-priced technology products, men opt for online shopping while women prefer offline stores
    • Graph 17: method of choosing technology products, by gender, 2023
    • Technology product purchase channels
    • When selecting purchase channels, product quality and after-sales services are top considerations
    • Graph 18: technology product purchase channels, 2023
    • The younger generation use a wider variety of online sales channels
    • Graph 19: online purchase channels for technology products, by age, 2023
    • Offline brand stores are key to mobile phone and PC sales
    • Graph 20: offline purchase channels for smartphones and PCs, 2023
    • Technology product information channels
    • Consumers source product information from a few trusted channels
    • Graph 21: technology product information channels – repertoire analysis, 2023
    • Shopping platforms and official brand sites are key sources of information; professional and entertainment-oriented platforms should not be overlooked
    • Graph 22: technology product information channels, 2023
    • Professional technology websites can help reach more consumers
    • Men tend to search a wide range of sources while women prefer trusted channels
    • Graph 23: technology product information channels, by gender, 2023
    • Appeal to large families and high-income consumers with enhanced offline experiences
    • Graph 24: offline information channels for technology products, by monthly household income, 2023
    • Graph 25: offline information channels for technology products, by living situation, 2023
    • Format preferences for tech-related content
    • Punchy and interactive content is more likely to engage consumers
    • Graph 26: interest in content format, 2023
    • High-income groups prefer interactive content
    • Graph 27: interest in content format – 'increased', by monthly household income, 2023
    • Content that influences purchasing decisions
    • Consumers are most impressed by concise and truthful reviews and recommendations
    • Graph 28: content influencing purchasing decisions, 2023
    • Brand/product stories and fun content can drive technology product purchases
    • Graph 29: content influencing purchasing decisions, by purchases of technology products in the last 12 months, 2023
    • A fashionable appearance has become a key purchasing factor for smartwatches/wristbands
    • Graph 30: content influencing purchasing decisions – have purchased smartwatches/wristbands in the last 12 months, 2023
    • Focus on the different demands of younger men and women for personalisation
    • Graph 31: content influencing purchasing decisions – respondents aged 18-24, by gender, 2023
    • Technology product purchasing habits
    • Respond to increasingly knowledgeable and discerning consumers with authentic and transparent communication strategies
    • Graph 32: technology product purchasing habits, 2023
    • Consumers want to make sensible spending decisions but also choose products that align with their values
    • Graph 33: technology product purchasing habits, 2023
    • Help younger consumers better understand technology products
    • Graph 34: technology product purchasing habits, 2023
  5. Issues and insights

    • Shape brand image to boost competitiveness
    • Brand image has become a key consideration when purchasing technology products
    • Graph 35: agree with the statement, by category of technology product purchased, 2023
    • Make a strong impression with short brand videos and differentiated positioning
    • Promote technology products with personalised/fashion marketing
    • Fashion pairings drive conversions for entry-level products
    • Position high-priced technology products as fashion-forward items
    • Transform offline stores into lifestyle spaces
    • Reimagine key offline purchasing experiences
    • Create an experiential space for relaxation and socialising
  6. 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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