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Has China'S Economic Crisis Yet To Come?

2010/8/13 21:38:00 80

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6 years ago, a friend who was studying in Japan returned home to visit his relatives. We talked about what he was going to graduate. He said he worked part-time to import tile for a Japanese building material company. These tiles came from the small factory in Guangdong, China. The price per square meter was only 30-40 yuan. His answer surprised us.

The Japanese will buy such low-grade tiles, when the people with better conditions in Beijing?

Home decoration

New houses usually choose brand ceramic tiles such as Nobel, Asia, champion and so on, and the price is about 100 yuan.

My friends told me that these tiles are popular in Japan at a high discount rate, and the Japanese are becoming more and more fond of cheap and fine goods. They are now looking for the real value of the product instead of consistently pursuing high-end brands.

He said that the impression on Japanese people was more important than before the Japanese economic bubble burst. At that time, Japan was a paradise for luxury consumption. Japanese consumption was fashionable with blind faith brand. Now, private-label, discount and online shopping are also popular in Japan.

Before the Japanese economic bubble burst, the Japanese seldom came home after work. The street pubs were overcrowded and could not get a taxi. Many people waited for a taxi just to drink for two hours.

Now, taxis are basically not working because people spend more time at home watching TV and surfing the Internet.

The economic crisis has changed the Japanese concept of consumption and lifestyle.

Recently, a McKinsey Co research report shows that

Economic crisis

It's beginning to affect the way Americans spend their money.

After the financial crisis in 2008, a significant proportion of American consumption began to shift from high-end brands to mid-range products. Most consumers said that the performance of mid-range products exceeded their expectations.

According to the theory of customer satisfaction, customer satisfaction is the difference between actual feelings and expectations.

Now Americans who consume mid-range products, their satisfaction with mid-range products is actually higher than their satisfaction with high-end products before the financial crisis.

The money is less and the feeling is even better.

If the Japanese changes reflect the impact of the Japanese economic crisis in 90s, and the changes in the us reflect the impact of the current economic crisis, have the Chinese people been affected by the economic crisis? A continuous study of consumer confidence in the zero research consulting firm shows that the consumption confidence of Chinese urban residents, who are the main consumers of China, fell to the bottom only at the end of 2008, but consumer confidence soon picked up, to 2009, or even more than September 2008.

Now we see that China's luxury cars are still selling well, and China's luxury cars are still selling well.

Luxury goods

Still hot, restaurants on the street are getting crowded.

In 2009, China's luxury cars grew by more than 30%. BMW and Mercedes Benz grew at an unprecedented rate in the Chinese market. BMW's performance in China increased by 40% in 09 years, and the 09 year growth rate announced by Mercedes Benz was 77%.

The Global Wealth Report 2010, released jointly by Merrill Lynch and Capgemini, said China's mainland contributed 40% to the 2009 global luxury market.

Bain consulting expects that in the next 5 years, China's luxury goods market will reach US $14 billion 600 million and occupy the first place in the world's luxury consumption.

Statistics show that the 2008 financial crisis is not a crisis in China.

If the crisis has an impact on the consumer psychology of Chinese consumers, it is only in the most pessimistic two months, then it will rebound soon.