Kantar China MONITOR
Pandemic experience influences the values that guide consumers
Patriotism rises, and priority of wealth declines
The Covid-19 experience influenced the priorities of Chinese consumers, accelerating ongoing changes, based on 31 values measured by the Kantar China MONITOR.
“Patriotism” moved up 14 positions to rank No. 11 as a life value, indicating how the Chinese response to the pandemic has intensified feelings of national pride. Almost two-thirds of consumers said they would buy Chinese-made products when possible.
Simultaneously, “Wealth” declined 13 positions to rank No. 27, and “Fun” rose 8 spots to rank No. 14. These shifts suggest that the home lockdown period reinforced a growing desire to better balance long hours at work with more time for enjoying recently achieved prosperity.
On a practical level, 71 percent of consumers said they want to be more frugal after the pandemic, and 72 percent said they would pursue goals other than material wealth. These shifts do not portent less interest in shopping, however.
More than half of consumers anticipated a major shopping excursion to make up for shopping limitations during the lockdown. Luxury continues to be important, especially among consumers in lower-tier cities, where price also remains an important consideration.
The ways people shop changed with the expansion of O2O and the emergence of new retail channels, including social e-commerce, where users on a social commerce site can move seamlessly to an e-commerce site. Consumers also used community group purchase, an emerging channel where neighbors or families and friends combine their purchasing to earn a group discount.
The use of emerging channels may decline somewhat as physical stores reopen. Meanwhile, the lockdown also reinforced the dependence on social media; 76 percent of consumers said they “can’t imagine life without the internet anymore.” And brand choice expanded, with 58 percent of consumers saying they had purchased, considered, or used a new brand during the pandemic.
Three-quarters of consumers say that post-pandemic they want to focus on improving quality of life. In this context, consumers expect brands to not only provide quality products and services, but also contribute to the welfare of Chinese society.
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