What does “value” mean now for Chinese consumers?

  • Advertising and Marketing
  • Asia
On-demand
Online event

In Mintel’s 2023 Global Consumer Trends, we explored 5 trends that shapes and impact consumer behavior, one of which is Intentional Spending: factors like flexibility, durability and sustainability will play increasingly important roles in consumers’ value equation.

But what is the true meaning of value for consumers now in China in a post-pandemic era? Price, function, flexibility or durability alone is not the only value that Chinese consumers are after now. They want a combination, they go far beyond the above factors: sustainability, environment-friendliness, individualization, even delivery. This holistic view goes well beyond the product to encompass the brand, and the company behind the brand, and what ‘value’ the company puts in (or takes out) from society.

Mintel’s APAC Trends Vice President, Matthew Crabbe, led the discussion and talked about the new values for Chinese consumers and what that means for brands and companies who want to grow in China market.

Meet the Presenter
Matthew Crabbe
Mintel Vice President of Trends & Lifestyles, Asia-Pacific, Mintel
Having covered most consumer product and service markets in China at some point or other in the past 30 years, Matthew now focuses his time on divining the future of Asia-Pacific’s consumer trends. He takes a particular interest in the human story behind the rapid growth in Asia’s economy, and how such breakneck change is having an effect on its people, their lifestyles, society and communities. Having traveled to and lived in Asia regularly since the late 1980s, he has witnessed this change first hand, and has documented these changes within his research work.

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