New trends in Chinese consumption: 3 major drivers will shape 5 new customers

The three emerging powers – the rising affluent class, the new era of consumers, and the ubiquitous popularity will lead China’s new consumer economy.

Source | Weed New Consumption (ID: yeCA oxxf)

Text | Weed new consumption

In the consumption upgrade, the core is still the change of consumer demand, and enterprises can only be invincible in the consumer market if they adapt to these changes.

Recently, Boston Consulting teamed up with Alibaba to launch a heavy report - "China's new consumer trends: three major drivers to shape new consumer groups in China." From the report we can see that despite the slowdown in economic growth, China will remain one of the fastest growing consumer markets in the world in the foreseeable future. And the three emerging powers - the rising affluent class, the new era of consumers and the ubiquitous popularity will lead China's new consumption economy.

1

Three major drivers have spawned five new customers

Driven by the three middle-class middle class and wealthy people, the young generation of new generations, and the online and offline integration of the three major consumer carriages, with the continuous evolution of population structure and society, people's consumer demand, lifestyle and behavioral attitudes have become very large. Changes have spawned more and more new segments of consumer groups in Chinese society.

For example, the social changes in the era of universal consumption have spawned consumer groups such as “urban trend men” and “active silver ages”; the rise of single trends has made the new urban “single aristocratic” group appear to be different from other consumers. Different unique needs; attention to the experience and feelings and keeping up with the trend of fashion have created "experience supremacy" and "eager to become masters"; under the wave of high connectivity and digitization, the birth of "secondary" and "virtual social" "Customer group and so on.

It should be noted that the above provides only examples of changes in customer demand caused by consumer demand and behavior changes, which may overlap and overlap each other, and do not exhaust all customer segments. We aim to enlighten companies by categorizing and enumerating representatives of consumer diversification segments – avoiding “one size fits all” misunderstandings in the face of future consumer markets, and being able to find their own segments more accurately. user group.

Each customer group has its own unique differentiation needs and wants to get customized products and services. In the future, companies must thoroughly understand each segment of the customer base, fully consider their unique needs, in order to accurately locate products and services, and judge their growth potential based on diversified prices, segmentation scenarios and differentiated functions, and develop appropriate Your own strategic decision.

1. Younger men and old consumers

“Everyone's consumption” has spawned young hipsters and new consumers. The expansion of online shopping and the enthusiasm of multi-year consumer goods brands mean that consumption of all ages and consumer groups has generally increased, and consumption is no longer only for individual consumer groups. China has ushered in “all-people consumption regardless of gender, age and gender. "era.

The rise of Chinese male consumer groups originated from the accumulation of social wealth. Social progress has led to the diversification of individual social identities. The richer social life has made men's thirst for non-essential substances more powerful and the driving force behind the rapid rise of male consumption in China.

Regardless of whether it is online or offline, male consumers have increased significantly, and the types of consumption have become more diversified. The amount of consumption is moving closer to women. Especially on the Internet, whether it is for shopping for themselves or for women at home, the annual expenditure of Chinese male consumers is even higher than that of women, reaching 10,025 yuan.

Taking the growth of the skin care products market as an example, other institutions have pointed out that compared with the overall increase of 11% in the Chinese skin care market, the growth rate of the male consumer goods market in the Chinese skin care market is more than doubled, reaching 24%.

The young male consumers who live in the city today – men born in the 1980s and 1990s – are very different from their parents. They look through men's fashion magazines, pay attention to their own image and enjoy life. They are willing to spend money on their clothes and hairstyles. They spend an average of 24 minutes a day on the instruments. They pay attention to health and will go to fitness clubs and various places. club.

According to surveys from different sources, 73% of first-tier urban male consumers believe that personal meters are very important for job hunting and dating; 88% of first-tier urban male consumers will view beauty and fashion information online; and 83% of first-tier cities 18-35 Older men think it is necessary to use skin care products.

Some brands have already smelled this trend early, and the huge potential of the trendy market will attract more brands to take action against male consumers in the future. In addition to traditional advertising marketing, the impact of the network on male consumers can not be ignored, many brands began to pay more attention to their exposure in the network. In the face of the Chinese men's consumer market, which is increasingly fashionable and personalized, different brands may make more differentiated choices.

In addition to the "influx of men", China's population structure is becoming more mature, and the "silver economy" is also popular. The aging of China's population has become an indisputable fact. According to official surveys, the total number of elderly people in China has exceeded 200 million. In the past decade, the income of the elderly population in China has increased significantly, and the consumption structure has changed from survival to cultural leisure.

In this context, the silver-haired lifestyle is becoming more proactive and diversified. It can be seen from the BCG global aging population study that the mentality of the elderly is now younger and “not old”. The retirement life of the elderly is no longer in the status quo and they are not leaving home; they also get rid of the old age and only have a stereotype in the care of their children and grandchildren. When asked about “the ideal retirement life”, the 46-55-year-old Chinese new generation of older people showed significant changes compared with the older generation over 55 years old.

The older generation of older people are generally more willing to go out of their homes and pursue a more colorful life in their later years. They are particularly evident in tourism, cultivating hobbies, engaging in rehiring/volunteer work and physical exercise preferences, and are ten to twenty higher than the older generation. Multiple percentage points. In addition, Reebok spokesperson "the coolest grandfather" Wang Deshun, as well as the 72-year-old sportsman Shao Quanfa who has finished 70 marathons, and other inspirational elderly public figures, also let the retired customers realize the new possibilities and bring new business opportunities. .

China's elderly consumer market is a blue ocean in the future, showing the characteristics of large scale, increasing diversification, insufficient supply of the elderly consumer industry, and obvious consumer willingness to consume. Taking the elderly tourism industry as an example, according to the statistics of the China Tourism Administration, the Chinese elderly tourism market has experienced a huge increase in 2012-2015, with an average annual growth rate of 21.5%, and the overall market growth level of more than 16.8% has reached 826 billion in 2015. The size of the renminbi.

In the silver economy era, economic speed and economic quality should be equal. From the perspective of consumption, the growth of some durable consumer goods has gradually become saturated, and consumer organizations are shifting to services that are dominated by middle-aged and old people. How to guide the development of consumer services in the high-level, high-quality, personalized and diversified direction is a challenge that enterprises need to solve in the future.

2. Single-person new customers have completely different lifestyles and needs

Multi-party data shows that Chinese society has ushered in the largest wave of “single tides” in history: the results of other institutions show that the number of single people in China is nearly 200 million, and the number of single people has risen from 6% 10 years ago. 16%, the number of people who are still single over 35 years old has more than quadrupled 10 years ago, reaching 21%. 36% of single women said that they are happy when they are not married, while up to 80% said they would rather be single and not rush to get married.

Among the customer groups with stable economic income and well-educated in the upper middle of society, more and more urban white-collar workers and gold collars have become "single aristocrats." The reasons for being single may vary, some people are reluctant to break the existing state of life; some stick to a high standard of mate selection; others feel that the cost of marriage is too high and the cost is too high, preferring to invest more in themselves, Promote yourself and pursue personal freedom.

Among urban women, the proportion of active choice of singles is particularly high. They are economically independent and begin to reflect on the female roles in traditional marriages. They no longer rely on men and believe that marriage is no longer a matter of being forced to complete. Nowadays, the number of single people who meet the above characteristics is increasing. The media and public opinion no longer look at them with the same colored glasses as “leftover men and women”. The single state has become a social norm that people are not surprised.

It is worth noting that the single-person trend is not limited to marital status, but has become a change of personal mentality. Although many people are married, but with the separation of the two places or spouse travel and other conditions more and more common, married people can enjoy personal space without a spouse, with a single sense of happiness.

With the increase in the number of active singles, the “single economy” has become popular. The “single woman economy” and “one person economics” have spawned a series of business opportunities. The company's targeted customization of products and services for single customers will be a major marketing trend in the future, such as: single-person KTV; single-seat restaurant; small refrigerators and small high-end retail stores with rich imported products; and real estate developers Exquisite small apartment and personalized design residence and more.

Singleness, self-improvement, and a strong social network make single life easier. The society’s acceptance of singles has also increased. “One person” will bring about a new form of consumption, which will give birth to a new group of single people.

As the singleness continues to spread throughout the world, China has also been pushed to the forefront of the single economic trend, and single people have become a major customer base that cannot be ignored in the consumer market. Regardless of the identity or the singleness of the mind, the single-person family advocates the convenience of the supremacy, light consumption, pay attention to play enjoyment and the pursuit of high-quality life.

3. Advocating a healthy green life and environmental protection

Food is food to safety first. In recent years, shocking food and drug safety incidents, as well as smog and water pollution, have been frequently seen in the media, making food safety and health a top concern.

People care about their own health and extend to concerns about the environment and sustainable development. According to BCG's consumer survey results, among the eight social and environmental consumption indicators including education and social security, consumers who are dissatisfied with food safety and medical care accounted for the highest proportion, reaching 57% and 47% of respondents.

The 2016 China Green Consumer Report released by the Ali Research Institute shows that Chinese consumers’ willingness to green consumption and environmental protection is now unprecedentedly high. Their pursuit of a healthy and green lifestyle is not only reflected in the consumption process, but also more willing to choose not. Green products that are polluted or contribute to public health are also expanded to hope that their consumption behaviors and methods will meet human health and environmental protection standards.

In GFK's consumer survey results, 73% of respondents said that enjoying life in a way that is harmful to the environment would make them feel guilty, ranking 7th out of 23 participating countries. In addition, up to 80% of respondents believe that brands and companies must be responsible for the environment. These data show that the concept of environmental protection has been rooted in the hearts of the people in China, and the environmental awareness of Chinese consumers is at a very high level.

Advocating a healthy lifestyle, a focus on environmental protection and a sustainable lifestyle has made “environmentally friendly consumers” a new and growing customer base. Environmentally friendly consumers pay attention to protecting the environment and have purchased more than 5 types of environmentally friendly products. They have a green awareness and have or may have turned green awareness into a green consumer behavior, hoping to have a positive impact on others and society through their own purchase of environmentally friendly products. The same report from the Ali Institute also shows that the Internet is becoming the new main battlefield in the green consumer sector.

Especially in recent years, the proportion of “environmentally friendly consumers” in Ali users jumped from 3.4% in 2011 to 16.2% in 2015, and increased to 66 million in number, a 14-fold increase in four years. Green environmental consumption is forming a mainstream consumption habit, and the price premium of environmentally friendly products has increased by 33%.

The emergence of new consumer groups of environmental protection consumers is of great significance to the consumer goods market. The Internet helps information transparency, and the release of green consumer demand is bound to better guide enterprises to focus on sustainable development and green supply, and force industrial upgrading and supply-side reform. .

Follow the trend of the "experience first" and "eager to become a master" to form a new customer base. The popularity of Internet information and at your fingertips, the popularity of international tourism, more and more Chinese consumers are in line with the world trend, their vision is wider than before, and the ability to accept a variety of new things is getting stronger and stronger. At the same time as the consumption upgrade, the information is also upgraded.

Chinese consumers are increasingly keen on researching shopping and accessing consumer information through online shopping information sharing platforms such as “Little Red Book”. They spend more time researching consumption than before – “What to buy, should not? Buying, where to buy, you need to do your homework.

In addition, experiential consumption has become a trend. Consumers are no longer satisfied with visiting familiar cultural and geographical environments, as well as traditional routine tourist routes, but are more willing to pursue unconventional, exotic travels and extreme sports that bring multiple physical and spiritual satisfaction.

For example, according to Hurun’s “China High-end Tourism” report, between 2015 and 2017, the popularity of Japanese tourism in Japan dropped from 58% to 36%; and exotic, exotic and personalized exotic tourism in Africa, the Arctic and the Middle East, The level of welcome has increased from single digits to around 20%. From 2015 to 2018, the growth rate of participation in the three extreme sports of rock climbing, racing and surfing is expected to reach 124%, 103% and 70% respectively.

The goods are tangible, the service is invisible, and the original personalized experience is the most memorable. Do not seek forever, only to seek the experience of the consumer-oriented group, so that many physical businesses affected by the Internet can find business opportunities and survival in the face of adversity, to design and sell the experience.

The experience economy has another big branch in China. It is willing to invest in its own hobbies and hobbies, and is eager to make a difference in interest, even reaching the "master" level of consumers. Following American football, Japanese anime, and Korean online games, Chinese enthusiasts are gradually forming an industrial chain, becoming a new force driving economic and consumption.

In recent years, the popularity of professional-grade and even master-class cameras among photography enthusiasts, as well as the number of active users of sports, fitness and cooking applications on mobile phones of up to 8, 9 million, also indicates that more and more people are willing to spend money and Time to improve your hobbies, and more willing to use vertical media and applications to improve their hobbies.

Keeping up with the trend of fashion and fashion, the rapid rise of experiential consumption such as exotic travel and extreme sports, willing to invest a lot of money for interest, and further enhance the hobby skills through information media such as mobile phone software, let " A new segment of the customer base of experience of life supremacy and "wish to become a master" was born.

For example, a 30-year-old white-collar worker in a first-tier city can easily spend nearly 35,000 yuan per year on spending on oil painting courses, ski trips, theater performances, and purchases of baking materials. Consumers of this customer base have no end in anticipation of experience and skills, completing purchases and consumption activities while learning, creating and persisting.

4. The digital age has created a keen focus on the second dimension and virtual social customer base.

Whether in the digital age of the post-60s, 70s, and 80s, or the aborigines of the digital age—new generations of post-90s consumers, they are now involved in 24/7 digital and highly connected mobile networks. Parents who once regarded the Internet as a beast and a beast have now left their hands on WeChat.

Whether it is students, white-collar workers or retired seniors, each has a networked smartphone; the "new three big pieces" of smartphones, laptops and tablets have become the standard in the digital age.

According to PwC data, today's Chinese consumers spend a lot of time on digital devices in the world, which is extremely demanding for device convenience. Chinese consumers spend an average of 170, 161, and 59 minutes on smartphones, laptops, and tablets a day; far exceeding the global average of 147, 108, and 50 minutes.

In addition, the convenience of online shopping in China also makes consumers willing to be connected 24/7. 62% of Chinese consumers believe that it is very convenient to buy things online, which is 4 to 7 percentage points higher than that of developed countries such as the United States and the United Kingdom.

As can be seen from the following set of data, consumers in the digital age present behavioral characteristics that are quite different from the past. According to statistics from different sources, there are currently 927 million active mobile Internet users, 707 million active WeChat users, 272 million active Alipay payment users, 231 million active cool dog music users, and 59 million active Drip taxis. user.

These figures reflect the trend of full-time online, from social, search to digital full coverage of consumer payments, and this trend has also led to the emergence of a new customer base of secondary and virtual social. The high degree of connection and the need for convenience make the two-dimensional world facing this customer group fully integrated with the three-dimensional real world. For them, the boundary between virtual and real scenes has become very vague.

For example, fans who used to watch the World Cup must go to the bars and restaurants and other consumer scenes. It’s fun to have a dozen beers and three or five friends talking about it. However, among the customers who are keen on virtual social networking, many consumers have moved the scene of “beer socialization” home, using mobile phone applications to order barbecue beer online, watching live broadcasts on the Internet, using barrage or mobile phones, and The interaction of golfers in Tiannanhaibei brings new consumption patterns and needs.

Online novels, games, animations and comics, which used to be "not in business" in the eyes of most adults, have become a means of entertainment for young people, and now more and more young consumers of this group have made their lives worthwhile. A series of new business opportunities and peripheral products. After all, the second-element products still have to meet the needs of people in the three-dimensional life: watching movies together and spitting together.

2

New trends in consumption brought about by change

Changes in consumer behavior and lifestyle have brought new consumer trends in addition to the emerging customer base. Ali Research Institute and Tmall took the lead in using big data to analyze the trend of Chinese consumers' upgrades and unearth many highlights of consumer behavior changes. They can be summarized in five major trend words: people are free, happy, happy, green, playful, no Little unwise.

It can be seen from these five trends that with the rapid changes in society, culture and economy, Chinese consumers' self-identity, values, and life and consumption habits are different from the past and have undergone tremendous changes. If companies have a deep insight into these dynamics and changes, keeping up with consumer trends, they can explore new growth points and potential business opportunities.

1, people set free

In the past, consumer behavior of Chinese consumers was often limited to different groups. People's social identity and self-identification are relatively solid, and rarely exceed the "established scope" of their own. For example, products such as fashion, skin care products or cosmetics are exclusive to women's consumption; travel and fashion are consumption items that only young people will consider.

Once any other group of consumers cross the thunder pool, or exceed their own defined range of consumption, it will make the mainstream of the society feel out of place. For example, if a man is interested in skin care and beauty in the past, it is likely to be labeled as “sissy”; the old man who is dressed up will be satirized “old and pretty” and so on.

Nowadays, with the gradual improvement of the openness of Chinese society, the increasingly diversified culture, the mentality of people is becoming more and more inclusive, and the behavior of consumers has quietly changed: “flying away”, “doing whatever you want”, “my youth, I am the master. "Advertising words reflect the Chinese people's longing to be themselves, dare to highlight their preferences, and break through the stereotypes and the trend of their established consumption boundaries."

Girls can take a handsome fashion neutral style; men can be passionate about skin care and pursue the latest fashion trends; older people can also walk in the forefront of fashion, actively participate in international travel and expand new hobbies. People no longer feel embarrassed by surpassing the old boundaries of consumption, but instead see breakthroughs in self and freedom of people as a trend. For example, the 2016 Ali retail platform data shows that the turnover rate of men's skin care products is 1.5 times the overall growth rate of beauty and skin care products.

In 2016, the number of searches for male beauty (color contact lenses) reached 1.238 million. In addition, the elderly population over the age of 50 is enthusiastic about new things, and the sales growth rate of Gropro cameras is 8.8 times the overall growth rate. In 2016, this group purchased 35,000 drones, far exceeding the overall sales growth rate.

2, happy alone

A few years ago, the media also gave older singles and men the hats of "leftover men" and "leftover women", and they were worried about them. However, the current single revolution has swept from the western developed countries to the whole of China. With the development of China's economy, the improvement of social civilization, and the evolution of people's understanding, the single state has become widespread among Chinese consumers of all ages. The more people start to enjoy the fun of life alone, without having to be accompanied.

In the past, many consumer activities such as eating hot pot, watching movies, and traveling must be carried out together. If you act alone, you will give most people the impression of "lonely" and "weird." Nowadays, acting alone is no longer seen as a kind of solitude, but is gradually accepted by the mainstream of society. "Soloism" has created a number of industries, one for food, one for rent, one for travel, mini-home appliances and small apartment apartments. A “single-person self-health mode” and its new lifestyle have officially opened.

According to the 2016 Ali Retail Platform data, the market supply of single-person goods increased by 5.6 times and consumption increased by 2.2 times. In 2016, the total turnover of mini juicers was about 190 million yuan, and the total turnover of mini washing machines was about 1 billion yuan. Nearly 40% of the 30-40 year olds will choose to enjoy the movie alone.

3, Lohas Green

The core concept of the green consumption concept is “health, happiness, quality, environmental protection and sustainability”, and advocates consumers to live and consume in a healthy and sustainable way on the basis of coordinated development with nature. The improvement of Chinese consumers' quality of life, quality and environmental awareness, green, healthy and sustainable consumption concept has been deeply rooted in the hearts of the people.

In the past, Chinese consumers once regarded extravagance and luxury as trend-oriented consumer behaviors, and their concern for health and environmental protection was relatively low. For example, in the past, the way in which China's affluent class demonstrated its status was based on Shanzhen seafood and even wild protected animals as food; wearing animal skin products as a high-end and fashion trend; and high-power appliances and private cars to reflect the quality of life. Now, refusing to consume, such as extravagance, extravagance, waste and pollution, and replacing it with health, quality, and green consumption has become the best choice for most Chinese consumers.

The Chinese began to say no to the bird's nest shark fin, choose healthy green foods such as organic vegetables and natural skin care products; they constantly improve the quality of their products, prefer natural materials such as cotton and linen, and pay attention to the recycling of old clothes; green travel, environmental protection The concept of home improvement has also entered the homes of ordinary people and become a habit.

For example, the Ali retail platform's 2016 data on green living shows that the growth rate of natural skin care brands is 2.5 times the overall growth rate of skin care products. The growth rate of imported fresh food turnover was 2.1 times that of the overall growth rate of fresh foods. In 2016, the number of people purchasing new energy vehicles and supplies on the Ali retail platform exceeded three times in 2015. In the same year, Ali retail platform sold a total of 4.08 million pieces of pure cotton and linen clothing.

4, play with animals

Hobbies can stimulate consumers to repeat purchases or long-term use of goods, thereby forming specific consumption habits and preferences. In an era when the economy and the Internet are not developed, Chinese consumers have relatively few opportunities to get in touch with fashion trends, and there is not much time and money for hobbies. Therefore, the importance of interest in life is low, and the types are relatively simple. Often limited to lower-cost activities such as reading music and chess.

Nowadays, with the highly developed media, the material richness and the demand for quality of life, the hobby is not only the pastime of Chinese consumers, but also the indispensable part of their cultivation of sentiment and enjoyment of life. Therefore, the attitude of Chinese people towards hobbies and hobbies is becoming more and more serious. Many people even spare no expense to become "professionals."

Easy access to knowledge, online communities and interest groups, convenient online shopping and distribution services, allowing Chinese consumers to connect with the world without any hassle in developing their hobbies, and to delve into their favorite traditional culture. Develop your hobby in depth and breadth.

Whether it is international projects such as skiing and surfing; traditional cultures such as calligraphy, embroidery, martial arts, etc.; or entertainment, such as cooking, baking, and floral, there are a number of “master” interest consumption in China. By.

From the data of Ali Retail Platform 2016, we can also see the diversification of people's hobbies: more than 13 million people have purchased ski goods; 320 million pieces of fishing products have been sold; sales of traditional Chinese musical instruments have increased more than 4 times The embroidery products sold 510 million pieces, and the average per-person consumption of baking products increased by 10%.

5, no wit

With the advent of the third technological revolution, the digital wave is drastically changing the way we work and lifestyle, and the mobile and connected lifestyle is also reaching out to thousands of Chinese consumers. It’s all too fast and it’s too far off guard.

A few years ago, the concept and equipment of intelligence were regarded as a relatively unfamiliar luxury by the people. Nowadays, a smart phone in the streets and lanes makes intelligent no longer an unreachable concept, but a common and commonly used item in life. And further to intelligent systemization, service matching, experience the trend of interactive development.

Not only that, the previous intelligent applications are limited to scientific research robots, medical equipment and other professional fields and advanced equipment. Even applications related to people's lives, such as home intelligence, are limited to stand-alone intelligence.

Now, in order to achieve a more efficient and convenient life, intelligent equipment and services have begun to penetrate into every aspect of daily life, such as home, travel, health, beauty, pets and other consumer activities and lifestyles, and gradually promote the promotion of intelligent design. and function. More and more smart products are now entering thousands of households.

According to the data of Ali Retail Platform, the number of transactions of intelligently controlled goods increased by 14.6 times in 2016, and the number of transactions of human-computer intelligent interactive goods increased by 7.6 times. The number of commercial body fat balances increased by 4.3 times. The number of smart blood glucose meter transactions is nearly double that of 2015.

3

Enlightenment to the company: see the micro-information, move with the trend

Since entering the “new normal” of the economy, the Chinese consumer market and consumer groups have changed significantly. An open market will lead to more intense competition. New technologies and new ideas will create a wide variety of products and services. Consumers will no longer blindly believe in big names, domestic companies and innovative companies will have more opportunities, and traditional industries and companies will face challenges.

How should consumer goods companies in China respond to the complicated market trends? We suggest that companies in China can consider strategies for responding to new market conditions and new customer bases in the following five aspects.

1. Identify consumer segments and needs

Chinese consumers are more mature and rational than before, and consumer demand and preferences are more diversified. Considering these changes in the traditional customer base, the company should devote sufficient time and effort to clarify the relevant customer segments and understand their needs; and consider whether the products and services they launch can satisfy the segmentation of the customer segments. Different needs for function and performance.

2. Build an efficient brand architecture and strategy

Enterprises in China should ensure that the brand architecture design can resonate with the rich and diverse new consumer segments, and grasp the pain points of the segmented customers to fully meet their needs. The goal of brand architecture and strategy is to effectively communicate the actual benefits with the customer base, and to avoid pulling the brand front too long, thus affecting the target's effectiveness.

3. Enhance consumer interaction and participation

Chinese consumers' emotional attachment to brands continues to increase. In addition to product functions, companies must actively engage in emotional aspects and interact with Chinese consumers. Future consumer attachment to the brand will be the key to building brand loyalty, and the company's deep emotional connection with customers can generate huge returns.

4. Create value for consumers

Although emotional attachment is constantly improving, Chinese consumers are still very concerned about the actual efficacy of the company's products or services, so brands in China must prove the reasonableness of the price premium. Companies should evaluate the price structure and supply chain to ensure maximum value for their customers.

5, channel design

In the channel design, building a comprehensive online and offline integrated channel is the trend of the future, and it is also the demand that consumers need to solve. Companies should understand the consumer's experience and needs, build a reasonable contact with the consumer's lifestyle, ensure that the channel coverage is maximized, and a closed-loop effect.

In China, defining future consumer groups and developing targeted strategies is becoming an important issue that has never been seen before. Although China's overall consumer market will continue to grow in the future, it will inevitably face growth if companies fail to capture high-potential income groups and young people, choose low-potential product categories, or fail to develop an effective omni-channel strategy. Slow down.

On the contrary, if Chinese companies and foreign companies in China can adapt to changes and implement correct strategies, they can continue to grow and profit in China, the most dynamic economy in the world, and maintain their strong competitiveness in the long run. Sustainable success.

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