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Chinese consumers choose high-quality products thanks to consumption upgrade

(People's Daily Online)    15:46, November 01, 2018

(Photo/Chinanews.com)

High-quality products have a better chance in China today as the country goes through comprehensive consumption upgrading, according to a report on the integrated development of Chinese retailers, which was issued on Wednesday.

The report was compiled by major retailers including Walmart, JD.com and Tencent based on sales data from their respective platforms. It found that quality is considered the most important factor by middle-income earners when making a purchase.

The report said that Chinese citizens have been spending an ever-growing amount on education, culture, entertainment and daily use products since 2013. Their consumption demand has gradually grown to a higher level from one that focused merely on food and clothing.

For instance, from July 2017 to June 2018, the sales of neck care products on JD.com surged by 75.5 percent from the previous year, while sales of skin care kits for men at Walmart also grew by 54 percent.

Due to the rising price of health care, education and housing, consumers in first-tier cities tend to be more rational, preferring more cost-effective products.

At the same time, young consumers from lower-tier cities are contributing more to China’s total consumption. The report showed that sales growth on JD.com in third- and lower-tier cities outran that of first- and second-tier cities in the period from July 2016 to June 2018. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Bianji, Hongyu)

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