Totem：2024年中国消费市场全景报告（英文版）（26页）.pdf

1、BIG PICTURE ON CHINAS CONSUMER MARKET2024MINI-REPORT#1BIG PICTURE ON CHINACHINAS MARKETING LANDSCAPE,CONSUMER SENTIMENT2024 BRAND MARKETING&MEDIA PLANNING OUTLOOK Chinas economy is stuck in a holding pattern,confused about a post-Covid restart that didnt happen in 2023.And,while China has had a dist

2、inct bias toward optimism and growth,the economy is stuck in the middle of a deflationary recession and consumers are turning negative.Marketing in China is witnessing an inflection point into 2024.Given this economic backdrop,marketers will need to adjust to new frameworks for growth in China,and a

3、n environment where consumers are more cautious,more considered and much more selective.The heady days of wild growth and impulse purchases are gone-to be replaced with more rational,cautious and considered buying decisions.Despite the growing air of negativity,this environment presents real opportu

4、nity for brands to move ahead.As weaker players are exposed,crippled or retreat,more well managed companies should be able to find breathing space.On a category-by-category basis,China has been the most crowded and complicated market in the World,often having 10-50 x the number of competitors per ca

5、tegory(when compared with more mature markets).The scale of competition could ease as the result of a prolonged market contraction.The trick to coming out ahead is having a clear perspective on the timing,depth of the downturnas well as internal plans for how to position and price accordingly.Positi

6、oning and strategy around audience targeting will be key as Chinas new consumer environment unfolds.Within this environment,there will be fewer winners per category.The goal of marketing teams will be to ensure that their brands are among the winners as things shake out.Dialing in brand positioning