1、10 KEY CONSIDERATIONS FOR CHINA MARKETING2024MINI-REPORT#210 KEY CONSIDERATIONSHIGH-LEVEL INSIGHTS FOR MARKETING LEADERS10 CONSIDERATIONSKey economic,cultural and political considerations shaping the China marketing landscape for 2024.BIG PICTURE INSIGHTS6.SOCIAL COMMERCE RIPS1.VALUE ABOVE ALL ELSE9

2、.TRUST STARTS TO FRAY4.MOVE TO MODESTY5.MOOD BOOSTING10.CAREFUL USE OF AI2.DIVIDES ARE GROWING7.IMPACT VS IMPRESSIONS8.DISCOUNT DILEMMAS3.HUSTLE AND HOPE1.VALUE ABOVE ALL ELSE There has been a major reshuffling of consumer priorities in the past several years,with trends flip-flopping as the economy

3、 has endured major adjustments.With China now starring down a deflationary recession,consumption patterns are responding to a more cautious mood.Prior to Covid,the middle class was upgrading rapidly from discount and value brands to luxury and leader brands.During this timeframe,spontaneous and emot

4、ional purchases became increasingly common.Luxury brands,together with fringe aspirant brands enjoyed solid gains during this time,tapping into promiscuous consumers with a discovery mindset.Fast forward to 2023-24 and the mind of the consumer has become more rational,more careful and measured.While

5、 there is still space for spontaneous and luxury buys,the trend is moving firmly in favor of finding VALUE.Weak results from shopping festivals(eg.Double 11,6:18),and the concurrent rise of Pinduoduo,point to rise of everyday low pricing replacing periodic discounts(and related emotional pressure th

6、at comes with festivals).In short,some of the joy is being sucked out of shopping,as rational considerations replace emotional instincts.In this context,brands will need to get very clear on being well positioned around rational,highly considered decision-making.Brands will need to shift more attent