10
Jan
2013

Faster sales processes result from more spontaneous Chinese decision making

There has been talk recently in the media of Chinese consumers becoming more spontaneous, taking less time on the decision to purchase, or at least this is what the surveys indicate. My first reaction is to question whether this is so, given what were relatively poor year on year results for many of the best known brands in China, which would imply the opposite. If people are spending money more freely, where has it all gone?

Having then thought about it, my intuition would tell me that this fact probably supports the belief that Chinese buyers are better informed and more knowledgeable than they were in the past, and also less open to the influence of others. Of course if you know enough about luxury handbags, you can walk into a store having already shortlisted your choices in your own mind and make a relatively quick decision. If you not too sure about the brands, and are given a wide range of choices, the selection process could take some time.

The fact also support the fact that Chinese luxury consumers are looking for more understated and exclusive brands, hence they are spending money away from the big names, and on the lesser known and perhaps smaller luxury brands because they are confident in their own decision and the brand itself. It also indicates to me that when Chinese consumers travel outside of the country, they are knowledgeable and relaxed, the two result in them spending more freely and spending less of the decision making process.

These facts all point to the need for luxury brands operating within China and those elsewhere in the world, to be better aware of Chinese consumer behaviour and ways to get them closer to their chosen product sooner. The consumers appear to know more about what they want, don’t make the sales process any more complicated than it need be; for either side.

 

 

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