Y2Q2 Consumer behaviour.pdf - Week 1 u2013 Characteristics...

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Week 1 – Characteristics of consumer behaviourTrends → impact on consumer behaviourE.g. China: e-commerce due to increasing access to internet, skin care is bought the most out of all online consumptions (90%), rising income/middle class → more demand for luxury productsWeek 2 – Consumer Behaviour and trends in Chinae-commerce (increase in online sales) → Amazon failed in China due to lack in trust → therefore, e-commerce flourished between individuals instead of companies → personal relationships + increase in accessibility, increase in trust (consumer behaviour)personalised/individualised speciality productsincreasing middle class/disposable income (in China: 40-47% of the income earners, about $400 dollars a month) → shift in demand to more expensive goodsbrand loyalty is growing (switch due to increase in disposable income) as people get more experienced with brands, perceived value of the brandincreasing demand (in e.g. quality)strict beauty standards due to women positions in society (conservative role division)11/11: Singles day (comparable to Black Friday) → Comfort from social pressure on relationships, express themselvesSmall/traditional shops are disappearing replaced by Hypermarkets (increase in convenience)uneven division of population → increase of elderly → growth of demand in health care → increasing demand for nursing homes/elderly care market → supply consists of investment from real estate + insurance companies + general health care market → three suppliers work together to create most efficient solutionhighly price sensitive consumers (less towards foreign products)Examples: Taobao, Hema (reinvented themselves in China due to big size of the market, flexibility of people, quick adaptability) -trust-problem-china-and-changed-wayWeek 3 – Consumer Behaviour and trends in Japan and IndiaJapan: consumers are spending more time at home, are changing not only what they buy but also how they buy it → Online shopping is becoming increasingly popular in spite of traditional

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