SOURCE: Prosper China

Prosper China

April 01, 2010 13:02 ET

Prosper China™: Chinese Consumer Confidence Up; Focus on Needs Over Wants, Practicality Down in First Quarter

China Executive Briefing, Q1 China Quarterly Report Now Available

COLUMBUS, OH--(Marketwire - April 1, 2010) -  63.8% of Chinese consumers ages 18-54 years old are confident/very confident in the Chinese economy, up over 25% from Q1-2009 (50.8%), according to the Prosper China™ March 2010 Executive Briefing (now available at http://www.ProsperChina.com). Focus on needs over wants has decreased year-over-year (41.3% vs. 44.6% Q1-2009) and so has making more practical purchases (59.8% vs. 60.9% Q1-2009).

Other talking points from the March 2010 China Executive Briefing:

  • Employment outlook up
  • Personal financial situation improves
  • Bank Card used most often
  • Carrefour and Walmart shopped most often for groceries
  • 6 month outlook bright
  • To read the complimentary briefing: http://www.ProsperChina.com

When it comes to younger Chinese consumers (ages 18-34), confidence is even higher, according to the Q1 China Quarterly Report. 66.9% of 18-34 year olds say they are confident/very confident in the chances for a strong Chinese economy in the next 6 months. This number is up 29% year-over-year illustrating how quickly consumer sentiment has recovered among this segment since the financial meltdowns of late 2008 and early 2009.

Other key findings among Chinese Consumers (18-34):

  • The percentage who have become more practical in their purchases over the last 6 months is down both quarter-over-quarter and year-over-year.
  • Although 98% of 18-34 Chinese Consumers currently own a cell phone, almost half (47.5%) are planning to buy a new one in the next 90 days.
  • Apparel purchases are most likely to be influenced by in-store promotion (31.2%) and advertising inserts (23.2%).

For more information and to download complimentary past China Quarterly reports on Chinese consumers (18-34) in both English and Chinese, visit http://www.ProsperChina.com and click on "Free Reports."

With consumer confidence and practicality in purchases down, how does this impact shopping behaviors, purchase intentions and personal savings? Find out in the April 2010 Prosper in China Webinar. The webinar will highlight insights from over 16,000 Chinese consumers 18-54 years old from the Q1 China Quarterly.

To sign up: http://www.formsite.com/prosper/pcwebinar/ for English or http://www.formsite.com/prosper/pcwebinar-cn/ for Chinese.

About ProsperChina.com
ProsperChina.com is an information bank & online forum for firms marketing products & services to Chinese consumers. ProsperChina.com partners with leading marketing resource companies to provide marketers unique insights on Chinese consumers as well as share innovative ways to improve marketing effectiveness. Visit www.ProsperChina.com 

About BIGresearch®
BIGresearch® is a consumer intelligence firm providing analysis of behavior in areas of products and services, retail, financial services, automotive, and media. The China Quarterly monitors the purchasing behavior and media consumption of more than 16,000 Chinese consumers, focusing on consumers between the ages of 18-54 years old. The China Quarterly is available through BIGresearch in report or database format. BIGresearch also conducts the monthly Consumer Intentions and Actions® Survey (CIA™) of 8,000+ respondents and the semi-annual Simultaneous Media® Survey (SIMM®) of 20,000+ respondents. More information is available at http://www.bigresearch.com.  

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