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Accenture’s latest study reveals strategies that help accelerate growth for consumer packaged goods and retail companies in China. For more information view us on http://www.accenture.com/ConsumerGoods
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The Allure and Challenges of China'sChanging Consumer Market
Accenture China Consumer Survey
Copyright © 2014 Accenture All rights reserved.
Accenture reveals the new rules of China's consumer market, advising consumer packaged goods companies and retailers on how to leverage consumer insights and segmentation to develop successful consumer engagement and growth strategies in a changing market of one billion empowered urban consumers.
Source: Accenture China Consumer Survey
Developing Winning Strategies
Invest in technology platforms to increase
visibility and responsiveness.
Build analytics capabilities to understand high-value
consumer archetypes.
Develop a consumer engagement blueprint to deliver personalized shopping experiences.
Identify opportunities for unconventional
growth.
The rules are changing in the vast China consumer market, and the profit rate of consumer packaged goods companies
and retailers continues to decline.
Diversity of consumer preference and behavior is transforming the traditional market segments. Accenture applied advanced analytics to identify 8 high-value consumer archetypes.
New Chinese consumer behaviors and preferences present consumer packaged goods companies and retailers with an opportunity to leverage digital channels to drive growth.
A “me” cultureis prevailing
It is difficult to drive loyalty
Life isdigital
Pragmatismstill rules
Profitsare down
A majority are willing to spend on
products that reflect one’s
identity.
Two thirdsare willing to
try new brands/products.
Nearly three quarters are online daily.
More than half often go to a physical store
to see/try before buying an item
online.
EBITA of 540 of China’s public retail,
non-durable consumer packaged goods and apparel companies is
declining.
Understanding Insights and Challenges
73% 52%
9%
’11 ’12 ’13
7%
4%
69%62%
Higher income Lower incomeMiddle income
Identifying Consumer Archetypes
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Young urban professionals (Yuppies)• High spending power• Product purchased should reflect status• High brand awareness
Exclusive service buyers• High spending power• Preference for highly personalized service• Experienced in online shopping and social networks
Fashion-forward consumers• High spending power• Price is a less important consideration• Preference for high-quality goods
Conservative middle-income shoppers• High spending power; conventional
spending practices • Prefer to shop in stores, not online• Greatly influenced by TV advertising
Internet civilians• Emotional and impulse buyers• High buying intent; relatively
low buying power• Enthusiasm for online
shopping and social networks
Price-sensitivefamilies• Lack strong
spending power• Value discounts and incentives• Experienced in online shopping
Thrifty householders• General spending power, but cautious• Concerned about saving for family and future• Attracted by in-store promotions
Aspirational wage earners• Lack strong spending power• Highly influenced by social networks
and online adverts• Attracted to point redemption schemes
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Meet Your UrbanChinese
Consumers
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LEARNINGS OPPORTUNITIES ACTIONS
Understanding Insights & Challenges Identifying Consumer Archetypes Developing Winning Strategies
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LEARNINGS
OPPORTUNITIES
ACTIONS