Recent results from China Polling’s continuous tracking survey reveals that China consumer still showed strong confidence in the local economy as they continue to say that China will weather the economic situation better than the rest of the world. The numbers have actually gone up from our initial tracking starting in Q4 of 2008.

Powered by China Polling Real Time Stats, June 2009

Growing trend of consumers who responded that they will not put off any major purchases or investments and they will continue with their lifestyle. We see the uncertainties in Q4 2008 and Q1 of this year but what a reversal in Q3 2009 as we see dramatic change in their confidence to spend more.

Powered by China Polling Real Time Stats, June 2009

Powered by China Polling Real Time Stats, June 2009

Majority still evaluated quality as the most important factor over price when buying things, and fewer consumers are willing to spend less to save for a rainy day (6.6% drop from Q4,2008). This data validates the mindset that consumers in China are in a spending mode.

Powered by China Polling Real Time Stats, June 2009

Luxury items, Vacation abroad and Stock market investment are the top 3 things consumer are putting off in terms of major purchases if they had to choose. For the top choice of luxury goods it has been a steady decline. Vacations are bouncing back which has been the case in our travel related surveys.  But the big changes are consumers who plan to holding back their investment in the stock market, 7.6% increase from Q4, 2008.

Powered by China Polling Real Time Stats, June 2009

Even with the high confidence, Chinese consumers are less optimistic about the recovery time for the global economy. The majority believes that the recovery will be in 2010, but there’s large shift of consumers who expect the current global economic downturn will not come around until 2011 and 2012.

Powered by China Polling Real Time Stats, June 2009

Overall, the consumer confidence in China is good and much better than overseas but will there be a delay factor in how the overseas slump is affecting China? We’ll just have to keep watching the Chinese consumers closely and observe the changes.

Number of Samples: 1,972
Data Capture Period: 2008.10.1 – 2009.6.30
China Polling conducts Omnibus Surveys on an ongoing basis to provide continuous tracking of consumer trends in China.  This innovative approach to tracking consumer behavior will allow companies looking to enter the China market to get the most up to date information about what’s hot and what’s not here in China.  All real-time datasets are available for purchase online.  Additional questions can be added into the Omnibus Survey and fielded at any time.