Ten Consumer Trends and Behaviors to Watch During Recession
By TNS China, 2009
Marketing pundits believe that condoms, DVDs, lipstick and junk food are likely to
gain in prominence in the times of recession. Consumers, it is felt will be more
rational in their choices, spend more time on inexpensive leisure, take the time to
relax, and re-charge of better times ahead.
Will Chinese consumers’ behavior be similar in these times of strain? Which
products and services will be affected and which, if any, will get a boost? TNS
China conducted an study in urban China to validate or explode these hypotheses
and myths, and the findings have been distilled to ten key changes in consumer behavior that we can expect to see in these difficult times.
The data collection was online, and as a result the profile of the consumers that TNS
studied represented the relatively younger and well-off online consumers, rather
than the total urban population
On the whole the urban Chinese consumer is facing the crisis with stoic optimism. Half the consumers feel that despite the downturn their incomes in 2009 will actually increase in comparison to 2008. 31% expect to retain the 2008 level of income and only 19% expect a decline. The optimism is based on the fact that most consumers feel that their lives will only be slightly singed by the fury of the global economic meltdown.
However on the whole the year 2009 for the Chinese consumer will be a time for reflection and an opportunity to seek a balance in life – balance between work and play, friends and family, saving and spending and between excitement and peace.Download the full report
(pdf, 240 Kb)