More emphasis has been placed on quality, content and shopping experience
China is becoming a significant market for imported goods, driven by consumers’ growing desire for a lifestyle upgrade as their incomes rise, according to the report by Deloitte China, the China Chamber of International Commerce and AliResearch.
The report noted the robust economic growth in China has added to the numbers of middle-to-high-income consumers. Those consumers tend to be more discerning about what they purchase and are turning to imported goods, which are generally perceived as higher quality alternatives to domestically produced goods, the report said.
The report said total retail sales of consumer goods in China last year hit RMB36.6 trillion, a 10.2% rise over a year earlier. That total accounted for a quarter of total global retail sales.
Specifically, food, mom and baby products, cosmetics, watches, glasses and jewelry are top categories for imported consumption, because Chinese consumers place priority on food safety, product quality and design, the report said.
Even in areas, like electronics, where imports are decreasing because of more domestically made choices, there’s still strong demand for imports that differentiate themselves from Chinese products, such as photographic equipment, water purifiers and robotic vacuum cleaners, categories where demand for imports has yet to be satisfied.