SOURCE: BIGresearch

March 26, 2008 10:58 ET

BIGresearch's Q1 China Survey: Consumer Confidence of Young Chinese Soars as U.S. Consumer Confidence Continues to Sink

Digital Nomads in China Use Cell Phones as Gateway to Internet

COLUMBUS, OH--(Marketwire - March 26, 2008) - The China Market continues to thrive with double-digit increases in both retail sales and GDP. Unprecedented growth, combined with some extra cash found in red envelopes from the Chinese New Year, has helped to fuel young Chinese consumers' confidence in the first quarter of 2008, according to BIGresearch's (http://www.bigresearch.com) latest China Survey of over 4,500 young Chinese consumers between the ages of 18 and 34.

When it comes to economic outlook, 74.3% of Chinese consumers ages 18-34 say they are confident/very confident in their economy, a stark contrast in comparison to their American counterparts as only 33.2% say the same.

The stock market isn't the only market performing well in China. With the largest number of mobile phone users in the world, China's cell phone market is booming. For many young Chinese consumers, cell phones are their main entrance to the Internet, and they look for functionality to include web access, streaming video, games and music downloads far more than their American counterparts. For example, three-fourths of young Chinese (74.3%) say they need/look for streaming video in a cell phone compared to only 16.6% of Americans.

"Advertisers and their agencies should recognize both the similarities and differences between young Chinese and American consumers when buying media," said Gary Drenik, president of BIGresearch. "Knowing differences such as adoption of new media is important for increasing advertising ROI."

BIGresearch compared the responses of the young Chinese consumer (18-34) to their American counterparts (18-34) and some of the key differences are:

--  71.1% of Chinese would definitely/probably invest in the Chinese stock
    market, vs. the 53.1% of American consumers who have the same feelings
    towards the U.S. stock market.
--  70% of Chinese car owners indicate gas prices have greatly impacted
    their spending, compared to 83.7% of American car owners.
--  20.9% of Chinese car owners say they will take fewer shopping trips as
    a result of fluctuating gas prices; 36.5% of American consumers are likely
    to do the same.
--  Compared to U.S. consumers, young Chinese are more likely to blog,
    download/access video and music content, instant message online, play video
    games, and use their cell phones for pictures, text messaging, and watching
    videos.
--  Simultaneous media usage for Chinese consumers is on par with the
    U.S., making it difficult to rely solely on traditional media to reach
    them.
--  97.2% of Chinese consumers regularly/occasionally seek advice from
    peers before buying products and services, and in turn, give advice about
    products they have purchased... American consumers are more likely to give
    advice after purchasing a product, rather than seeking advice prior to
    purchasing.
    

Additional information on BIGresearch's 11th China Quarterly survey on the young Chinese market may be accessed at www.bigresearch.com/chinaq.htm.

About BIGresearch

BIGresearch is a consumer intelligence firm providing unique consumer insights through online surveys. The China Quarterly monitors the purchasing behavior and media consumption of more than 4,000 young adult Chinese consumers between 18-34 years old. The recently expanded China Quarterly includes more detail and greater insights on shopping habits and media consumption. The China Quarterly is available through BIGresearch in report or database format.

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