1、CHINA MARKETING&MEDIA TRENDS20242024 BRAND MARKETING&MEDIA PLANNING OUTLOOK Chinas economy is stuck in a holding pattern,confused about a post-Covid restart that didnt happen in 2023.And,while China has had a distinct bias toward optimism and growth,the economy is stuck in the middle of a deflationa

2、ry recession and consumers are turning negative.Marketing in China is witnessing an inflection point into 2024.Given this economic backdrop,marketers will need to adjust to new frameworks for growth in China,and an environment where consumers are more cautious,more considered and much more selective

3、.The heady days of wild growth and impulse purchases are gone-to be replaced with more rational,cautious and considered buying decisions.Despite the growing air of negativity,this environment presents real opportunity for brands to move ahead.As weaker players are exposed,crippled or retreat,more we

4、ll managed companies should be able to find breathing space.On a category-by-category basis,China has been the most crowded and complicated market in the World,often having 10-50 x the number of competitors per category(when compared with more mature markets).The scale of competition could ease as t

5、he result of a prolonged market contraction.The trick to coming out ahead is having a clear perspective on the timing,depth of the downturnas well as internal plans for how to position and price accordingly.Positioning and strategy around audience targeting will be key as Chinas new consumer environ

6、ment unfolds.Within this environment,there will be fewer winners per category.The goal of marketing teams will be to ensure that their brands are among the winners as things shake out.Dialing in brand positioning and value proposition with a core consumer group is an important first step.In Section