mercredi 5 décembre 2018

Babycare market in China: A Flourish Market

The Chinese baby care market experienced double-digit growth last year driven by dynamic and sustainable factors. In order to capture this large and rapidly growing market, it is important to understand Chinese mothers, who are not only unique in the West but also dynamic within their own demographic group, with significant regional differences. The childcare market, which amounts to 100 billion RMB ($ 14.8 billion), is mainly motivated by the desire of Chinese mothers to exchange for better quality and food security, as well as the population of 56 million children in China and the rapid growth of citizens' income.

The baby care market in China

Based on these enduring factors, the BCG predicts that the baby care market in China will be the largest in the world. (For more information on growing the baby care market in China, including the development of online counseling forums, see the related article "Baby Love".) Take the example of the infant formula (FMI): it ranks first in China (and is the largest market of the IMF in the world) with an estimated market value of $ 7.4 billion. The BCG found that single is more important as a result of China's one-child policy, which often leads to a higher percentage of child-care income than in the Western world. Expenses of Chinese mothers for their babies have increased exponentially and characterize a broader trend in the sector.

The baby-care categories

To better understand the trends in the baby-care categories, such as baby foods and diapers, and explain why consumers choose one brand over another, Nielsen surveyed respondents from 60 countries online, including China, having purchased these products in the last five years. The results reveal important information about the purchase path and identify the most influential online and offline sources in the process. In China, changes in the selective politics of two children, rapid urbanization and confidence in China encouraged the adoption of convenience lifestyles, making infant formula and baby food prepared more desirable.

1 commentaire:

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