GLOBAL, NOVEMBER 2010 – Media agency MEC has forecasted the top 12 trends for China in 2011. These results were compiled from desk research and input from over 50 trend scouts from different parts of China. As China is the biggest market in the world, the results of Consumption Trends China may help inspire marketers to come up with new business concepts, products, services, and new ways to engage their Chinese customers.
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Among the trends predicted, the number one trend is Low-Carbon Consumption. The Chinese are now more conscious of going green, and have even expressed an interest to pay more for environment-friendly products. As much as 73% are willing to modify behavior.
Notable trends include Social Herding, which places fourth. Evidenced by the recent online Mercedes Benz group purchase promotion, Chinese are easily swayed by the bandwagon. For the MB promotion, 200 smart cars were sold in three-and-a-half hours. The Chinese are about belonging, even ranking low in ‘Individualism’ in Hofstede’s Cultural Dimensions survey.
Online Consumption comes in at fifth place. The power behind this might come from low-tier cities with less shops and products to choose from, and they spend more time online than those in the provincial capitals.
While centered on China, the study reflects trends that are arguably global. Other trends in the rankings include Frugal Consumption, Consumption of Sensory Experience, Cluster-Oriented Consumption, Renting Instead of Owning, Mass Luxury, Rise of Male Consumers, Consumption of Virtual Products, Social Network Consumption and Leading a Healthy Life.
Theresa Loo, Strategic Planning, Analytics and Insight Director of MEC China believes that the findings will benefit both local and new brands. "Local brands can better utilize collective memories, history and local customs as rally points around their offer,” she said.
“Our insights into new trends will also give new brands which appeal to niche interests a chance to enter the market. 2011 is going to be an exciting year for all marketing and communications professionals.”
