Chinese consumers willing to switch brands, survey shows

By Ding Yining | June 30, 2014, Monday |

Online Edition

DESPITE Chinese consumers' strong brand awareness, many of them are willing to try new services or products, a survey shows.

A total of 69 percent of Chinese consumers said they were willing to try new products from new brands, and about 40 have shifted retailers in the past year, mostly due to bad shopping experiences, the consultancy Accenture said.

Accenture's survey covered 3,500 consumers in 27 Chinese cities

Chinese consumers are also keen to combine online information with products they tend to buy from offline stores, with 75 percent checking online store prices and half of them carefully examining the products in department stores or supermarkets before placing orders online.

Some 90 percent of respondents say they would be willing to pay a 5 percent premium for products of higher quality, and 60 percent would pay a 10 percent premium. Only half of the consumers said they would stay loyal to one brand, and the rest choose from different brands when they make the final purchase.

Accenture suggested retailers leverage their technical platforms to aggregate and study consumer behavior from different channels in order to have deeper understanding of consumers' purchasing decisions.

Business Consumer

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Chinese consumers willing to switch brands, survey shows

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