Resident Consumption Expectations: Increasingly Cautious Attitudes Are Evident
The share of per capita consumption expenditure relative to disposable income can be divided into two phases: before 2019 and the “post-epidemic period” after 2020. Despite an increase in disposable income after 2020, people spent a smaller proportion of it compared to pre-pandemic levels. After 2022, consumer confidence declined, leading to more cautious spending habits.
Consumers’ Consumption Concepts and Habits Tend To Be Rational
Consumers are prioritizing value and practicality, with over 70% becoming more cautious in spending. Rational consumption is the norm, as 74.4% now focus on essentials, budgeting, and cost-effectiveness.
Consumers Obtain Sufficient Information for Consumption Decisions
Most consumers take a detailed approach to decision-making, comparing products across multiple factors such as brand, quality, and reputation. Over 60% of consumers consider at least three dimensions before making a purchase. They also tend to favor practical and functional products, prioritizing quality, utility, and price in their buying decisions.
Consideration/Decision Path Before Consumption
Low-Price Marketing Fatigue is Evident, and the Market is Entering a Stage of Discarding the False and Retaining the True
Consumers are growing tired of frequent promotions, as seen in the declining sales of the 2024 “618” event. Instead, they prioritize real experiences and expert content when making purchase decisions, signaling a shift toward authenticity in the market.
Consumers are More Cautious About the Consumption Content
Consumers Trust Product Information/Content Released by Recommenders
Brands are Exploring Effective Methods to Truly Engage Consumers
The number of users of community social apps has exceeded 800 million. With the penetration of social media, the value of content marketing on such platforms has become prominent.
According to research, 68.3% of advertisers plan to increase their advertising budget on community social platforms in 2024. The recognition of the platform’s consumer coverage and content format has led advertisers to view community social platforms as the main marketing battleground and actively carry out content marketing.
Marketing Media Where Advertisers Plan to Increase Budgets in 2024
Post-pandemic, consumers are spending more cautiously, prioritizing practicality over impulse buys. Over 70% now focus on product value and utility, relying on thorough research before purchasing. Low-price marketing fatigue has set in, with promotions losing effectiveness. Instead, brands are shifting to community social platforms, where over 800 million users engage, making them the new hotspot for marketing efforts.
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