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Chinese brands close the gap between international rivals
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CHINESE brands are closing the gap between international brands, with consumers becoming more concerned about the product quality rather than the origin of the brands, a latest study shows today.
As many as 67 percent of consumers said they're becoming more favorable towards domestic brands, consumer research firm Mintel said in a latest research report today.
They study covers 3,000 consumers aged between 20 to 49 in 10 cities in China.
Domestic brands' advantage is obvious especially in food and beverage categories with 42 percent respondents favoring domestic snacks over foreign ones, compared to 25 percent that prefer imported snacks, and 44 percent consumers prefer ready-to-drink beverages, against that of 27 percent that are inclined towards foreign products.
Baby food is an exception with as much as 45 respondents said they would choose international brands against only 31 percent who favor local products.
"We've seen Chinese consumers becoming more value-driven, as they're more likely to judge a product by its content and quality instead of checking whether it's with an international or domestic brand," said Mintel China senior lifestyle analyst Laurel Gu.
As many as 47 percent of consumers said they're more willing to indulge themselves by paying for services instead of products, and consumers also named annoying services one of the top reasons for their unfavorable shopping experience in the past year.
Mintel's research suggests both multinational and local companies need to think about improving customer services that is consistent with product quality to cater to consumers that are becoming more sophisticated.
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