Chinese consumers looking for brands that deliver value

Chinese consumers are proving adept at finding brands that deliver value for their money, and Chinese brands have become credible competitors, especially in the personal digital gadget and personal care categories, according to a new report released by consulting firm McKinsey & Co this week in Beijing.

The global consultancy surveyed nearly 10,000 consumers aged 18 to 65 across 44 cities and seven rural villages and towns in China last year, and found that Chinese consumers buy local brands not because they are local, but because they believe those brands offer better value, their products are more suitable and they offer superior service.

In 2012, Chinese brands accounted for 43 percent of the Chinese market in the personal digital gadgets category, versus 63 percent in 2017. For personal care products, Chinese brands made up 76 percent in 2017 compared with 61 percent in 2012, the report said.