BUS20335-China Business Environment
Chinese Generation Z (born in post-1995 to early 2000) has been considered to have massive consumption capability. According to OC&C Strategy Consultants, “with consumption power growing steadily in China, Generation Z is emerging as a distinctively new consumer segment that brands want to learn more about and target”. In fact, China accounts for the highest share of Generation Z household spend at 13% compared to only 3% for the UK and 4% for USA. It is estimated that the consumption of Chinese Generation Z will account for 40% of total consumption power in China by 2020. Therefore, international brands need to pay much attention to this important segment of Chinese consumers.
1.Describe the characteristics of Chinese Generation Z and their consumer behavior.
2.Assume you are a marketing expertise in a Hong Kong Consultancy firm, suggest some effective marketing measures with reasons to your Hong Kong client who wants to promote their fashion products to this group of consumers in China market.