2021-07-26T15:58:00+03:00 China 2024-09-15T08:34:23+03:00

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Survey shows significant consumer psychology changes in China

Survey shows significant consumer psychology changes in China

A survey released at the ongoing 2021 Licensing Expo China (Shanghai) showed that Chinese consumers are increasingly spending on "family and health" by buying more and more high-quality products, according to The Xinhua News Agency reports.

Jason Yu, Managing Director of Greater China of Kantar Worldpanel, released the consumer research report during the 2021 China Licensing Conference.

As consumers in China return to their regular lives from the epidemic, they are more and more focused on "protecting their families, exploring and learning new things, and quickly adapting to changes in life," said Yu.

The significant consumer psychology changes in China. Photo by Xinhua.

The report also showed that, compared with the older generations, Generation Z in China has different consumption motivations. They are spending heavily on brands and products to boost their social popularity, are in line with their "public persona," and can help them purely enjoy themselves.

According to the global licensing market report 2020 issued by Licensing International, China's licensing market reached 10.4 billion U.S. dollars, up by 9.7 percent year on year.