Changchun, November 13, 2023 (Xinhua) – Beijing resident Han Xue replaced all her household electrical appliances with Xiaomi products, a Chinese consumer electronics brand.
“The TV I have used for years is of high quality, and the robot vacuum is easy to use and cheap. Moreover, I can control all the electrical appliances remotely,” Han said.
“It’s not that I can’t afford big international brands, but those local products are more cost-effective,” Han added.
A large number of Chinese consumers have the same attitude. During the China Singles’ Day shopping festival on November 11 every year, they show their preference for Chinese brands and “Chinese elegance” products – products that combine fashion and traditional Chinese elements in their design.
When the e-commerce giant JD.com launched its shopping events on the evening of last October 23, the total transaction volume for local Chinese brands such as Xiaomi, Huawei, Oppo, OnePlus, and Vivo exceeded It crossed 1 million yuan (about 13.93 million US dollars) in just one second.
On the giant online shopping platform Tmall, winter clothing was also a consumption category with great demand during the shopping festival. Shortly after the start of the shopping activities on the evening of last October 31, the transaction volume for “Bossing”, a famous Chinese jacket brand, exceeded , exceeded 100 million yuan.
A report on Chinese brand development trends issued by JD.com earlier this year revealed that from 2019 to 2022, the number of consumers purchasing “Chinese elegance” products rose by 74 percent, and transaction volume grew by 355 percent. percent during the same period.
In this context; These trends encourage more companies to incorporate Chinese elements into their goods and services, said Tian Yuelin, an associate professor at Jilin University.
According to the report by JD.com, the number of brands producing “Chinese style” products increased by 223 percent between 2019 and 2022.
Generation Z plays an increasingly important role in consuming domestic Chinese products, partly due to price advantages over many international alternatives.
Consumer data from JD.com indicates that during this year’s shopping festival period, 62 percent of spending on Chinese domestic products was from consumers born in the 1990s and 2000s.
Experts said the growing cultural identification among Chinese citizens is driving the sustainable growth of the “Chinese chic” economy. The popularity of local products not only represents a consumer trend, but also embodies values, philosophies and lifestyles.
A report issued by consulting firm Alex Partners on October 31 showed that consumer loyalty to local Chinese brands is increasing in China, with 66 of those surveyed planning to increase their spending on local brands.
2023-11-13 06:41:15
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