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Double-clicking on the Chinese consumer

# Regional Focus

Double-clicking on the Chinese consumer

If you’re looking for evidence that Chinese consumers are confident, look no further than the one-day online-sales phenomenon known as Singles Day, which falls every year on November 11. Singles Day has morphed from being a day dedicated to lonely singles to becoming the largest e-shopping day globally. With an estimated $25 billion in sales, or over $1 billion in transactions per hour, Singles Day this year easily bested last year’s sales by close to 40 percent, and was larger than Black Friday and Cyber Monday in the United States combined.

Double-clicking on the Chinese consumer

Singles Day reinforces what we already know: Chinese consumers today are earning much more money and are spending that money on a wider variety of higher-quality and pricier goods and, increasingly, on services.

But only by digging deeper into the attitudes and behaviors of consumers can you see a more multifaceted set of consumer segments, each with unique characteristics that determine their shopping habits. This is what we’ve done with our latest survey of nearly 10,000 consumers aged 18 to 65 across 44 cities and seven rural villages and towns.

As in previous reports, we present four key trends that companies need to know to help them formulate their operational strategies in China. But this time, we reveal deeper, more meaningful layers of insight into what makes Chinese consumers tick today.

 

Understanding how they make the critical decisions that affect what they buy — and what they don’t — is vital for any company to succeed in this hotly contested market.

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