From the external blog post: The Products Chinese Consumer Wants, I found many useful information on the consumers’ behaviour and preferences. Unsurprisingly, China’s consumer goods market expanded rapidly over the past 20 years. The reason to that is that the increasing number of first-time buyers, who are desperate and eager to buy goods and services that were previously unavailable or unaffordable. With so many new products in the market, the consumers don’t know what to purchase, therefore they try new products.
Interestingly, in 2010, 20% of China’s urban consumer spent more money than they did the previous year because they were first-time buyers; but that number dropped to just 5% in 2011, since the first-time buyers have bought some items that they wanted already.
In the past few years, there wasn’t enough(alot of) fresh milk that could be supplied to the majority of households. But recently, as more milk farms being created, milk has become much more available to people. In 2005, over 85% of Chinese consumers had tried drinking milk, so the market leader Mengniu( of the milk industry) changed its slogan from “one cup of milk a day” to “three cups.” By 2010, Mengniu’s revenues had tripled to around $4.5 billion. This post gave me an idea how much the effects of the availability of products can affect consumers behaviour.
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