China’s Confident Consumers

January 3, 2013

China’s Confident Consumers

All:

 

The Chinese have taken to consumerism with ease, embracing thousands of new products, services, and brands. But the flipside is that the Chinese market changes at a speed capable of leaving all but the nimblest of companies breathless, as McKinsey’s 2011 survey of Chinese consumers highlights.1 Three findings stood out. Even in the face of rising inflation, Chinese consumers are more confident this year than in 2010 about their financial prospects. Among urban consumers, the number of first-time buyers—a group that has been a major driver of category growth in China—is declining. Finally, although brand awareness is rising, we see little sign that brand loyalty is following suit. In fact, more and more consumers choose among a growing number of favorite brands.”

 

The preceding quote is from the latest “DFS Learning e-Blast” article, China’s Confident Consumers, by Yuval Atsmon and Max Magni.

 

In this November 2011 article from McKinsey Quarterly, the authors discuss the recently published 2011 Annual Chinese Consumer Survey by McKinsey Insights China.

 

At a time when our PRC business is exploding in virtually all our retail locations, it is important for our leaders to understand the underlying factors influencing Chinese consumer behaviors.  By understanding the evolving Chinese consumer mindset we can make better decisions on how we serve this important client today and into the future.

 

More from the article:

 

The survey shows the extent to which consumers value brands more than price or channel, largely because they believe that branded products are safer, of higher quality, and more reliable than nonbranded ones. But faith in brands still does not translate into brand loyalty. In fact, both the number of consumers who always choose from among a relatively small set of brands—whom we refer to as “repertoire loyalists”—and the number of brands in their repertoire continue to rise. The average Chinese consumer now chooses among three to five brands in any given category, compared with two to three brands two years ago. In some categories, such as apparel, where luxury brands have grown hugely popular, the contrast is sharper still.”

 

Read the short article to learn more!  The full survey is available here as well.

 

Mike Osorio, your Dare to be Contagious™ strategist

www.OsorioGroup.com

What do you think?  Please add your comments to join the discussion!

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7 Reasons for Positive Updates

January 1, 2013

DISCUSSION TOPIC

 

7 Reasons for Positive Updates

November 24, 2011

All:

The most common way of getting people to share ideas is to hold a meeting.  We’ve all attended hundreds, if not thousands, of meetings. 

But, here’s the problem.  Let me demonstrate it.  Pretend the following statement applies to you right now. 

“You have to go to a meeting.” 

Okay.  How are you feeling?  What are you thinking?  If you’re like most people, you’re not happy.  You might have said to yourself, “Oh no.  I just want to get my work done.”  “Or, why do I have to sit in another meeting.” “Or, this is going to be a waste of time.”  If this is how you feel, how do you think other people feel?  This is what you’re up against when you ask people to come to your meeting.”

 

The preceding quote is from the latest “DFS Learning e-Blast” article, 7 Reasons for Positive Updates, by David J. Pollay.

 

In this 2009 article from leadership consultant David J. Pollay, the author provides us with a simple approach to significantly improve the effectiveness of any meeting you hold.

 

All of us complain about the number of conference calls and meetings we need to attend.  Wouldn’t it be amazing if more of the meetings we hold or go to were somehow changed to be seen as positive and a good use of our time? 

 

More from the article:

Most people come to meetings in the mood of the last call they had, email they read, meeting they attended, or interaction they had with someone.  Their moods and attention are basically tied up in other things.

The key is to get everyone focused on the expected outcomes of your meeting.  So you have to do something different.  I’ll share with you what I’ve been doing for years with my team meetings.  It will not cure people’s fear or dread of meetings, but it will help you get your meetings off to a good start every time.”

 

Read the short article to learn more!

 

Mike Osorio, your Dare to be Contagious™ strategist

 

www.OsorioGroup.com

 

What do you think?  Please add your comments to join the discussion!

 

Thank you for visiting my blog. Please follow, subscribe using RSS, and/or comment on my postings.


The New Japanese Consumer

January 1, 2013

DISCUSSION TOPIC

 

The New Japanese Consumer

November 18, 2011

 

All:

 

After decades of behaving differently, Japanese consumers suddenly look a lot like their counterparts in Europe and the United States. Celebrated for their willingness to pay for quality and convenience and usually uninterested in cheaper products, Japanese consumers are now flocking to discount and online retailers. Sales of relatively affordable private-label foods have increased dramatically, and many consumers, despite small living spaces, are buying in bulk. Instead of eating out, people are entertaining at home. Workers are even packing their own lunches, sparking the nickname bento-danshi, or “boxlunch man.”

 

The preceding quote is from the latest “DFS Learning e-Blast” article, The New Japanese Consumer, by Brian Salsberg.

 

In this 2nd quarter 2010 article from the McKinsey Quarterly, the author provides an interesting overview of the Japanese consumer’s changing domestic purchasing behaviors.

 

In previous e-Blast articles we’ve explored the changing dynamics of consumers in Korea and China.  Today, learn what factors are changing the way the Japanese consumer thinks about shopping and brands, and how this impacts their shopping behaviors.  By better understanding what drives today’s Japanese shopper, we can better serve our #2 customer nationality as they visit our locations throughout the world.

 

More from the article:

 

This fundamental shift in the attitudes and behavior of Japanese consumers seems likely to persist, irrespective of any economic recovery.  That’s because the change stems not just from the recent downturn but also from deep-seated factors ranging from the digital revolution to the emergence of a less materialistic younger generation.

 

Read the short article to learn more!

 

Mike Osorio, your Dare to be Contagious™ strategist

 

www.OsorioGroup.com

 

What do you think?  Please add your comments to join the discussion!

 

Thank you for visiting my blog. Please follow, subscribe using RSS, and/or comment on my postings.