2020 China cross border consumption Research Report From West window technology

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The following is the 2020 China cross border consumption Research Report From West window technology recommended by recordtrend.com. And this article belongs to the classification: Overseas shopping, Electronic Commerce, research report.

Xichuang technology released the 2020 China cross border consumption Research Report (hereinafter referred to as the “report”) in September. The research objects are consumers with cross-border consumption experience in China’s first to fourth tier cities, covering four major scenarios of cross-border e-commerce, tourism, education and real estate. In the report, Xichuang technology has carried out cross-border consumption portraits of seven groups of “small town spicy mother”, “mature single sister”, “million year salary big man” and his wife “Shunyi mother”, “video game boy”, “world adventurer” and “semi mature father”, and analyzes in detail the behavior characteristics of the above groups in terms of consumption category, frequency, channel and catalyst habits Sign.

01. Cross border consumption continues to rise: four scenarios show the diversification of cross-border consumption

The report defines cross-border consumption as “a country’s consumers consume from other countries through offline or e-commerce platforms”. The report adopts the combination of quantitative research and qualitative research. A total of 300 valid questionnaires and 21 effective in-depth interview samples are collected. The survey covers four cross-border consumption scenarios, including cross-border e-commerce, cross-border tourism, cross-border education and cross-border real estate.

1. Cross border E-commerce

In 2019, the scale of cross-border e-commerce in China will reach 415.5 billion yuan. At the beginning of this year, under the impact of the epidemic, China’s cross-border e-commerce with a scale of 100 billion suffered a temporary setback, but remained firm: the market size in the first quarter of 2020 was lower than that in the same period in 2019, but still higher than that in the first quarter of 2018.

Affected by the epidemic, the purpose and preference of consumers shopping through cross-border e-commerce have changed. Consumers who are isolated from their homes regard cross-border e-commerce platforms as leisure activities. Their demand for clothing, bags and other non necessities has declined, while the demand for personal protection, medical care and other products has increased. In terms of personal beauty care, the focus of consumers’ demand has shifted from “make-up” to “management of skin problems caused by wearing masks”: lipstick and other products have decreased in heat, and acne and oil control products have been sold well.

2. Cross border tourism

The number of outbound tourists in China has steadily increased compared with the previous two years. By the end of 2019, the number of outbound tourists in China has reached 155 million, and the per capita consumption is more than 6000 yuan. In the sinking market of the third tier and below, the growth rate of cross-border tourism reached 160%.

The growth of cross-border tourism is mainly distributed in the post-50s, 60s, 90s and 00s. Compared with the “middle-aged people” in the middle, the older “post-50s” and “post-60s” have more time. The post-90s and post-00s have strong willingness to consume, and their consumption ability is also increasing year by year.

In the long run, the impact of the epidemic on cross-border travel is limited, and 60% of consumers intend to travel after the epidemic.

3. Cross border education

The number of overseas students has increased steadily in recent years, with a net increase of 1.2 million in the first half of 2019. Among the popular destinations, the United States ranked first (21.6%), but there was no significant difference between South Korea (18.9%) and Britain (16.2%), which ranked second.

Cross border education is the most serious cross-border consumption scenario affected by the epidemic situation. As many as 92.9% of overseas students think that the epidemic has an impact on their studies.

4. Cross border real estate

Overseas real estate has become a new hot option for “high net worth” and “new middle class” families to maintain and increase their assets. From 2018 to 2019, the number of overseas real estate consultation increased nearly 10 times.

North America and Southeast Asia are the most popular overseas home buyers for Chinese consumers, and the second and third tier cities prefer Southeast Asia.

However, in the long run, cross-border home ownership will continue to grow.

02. Portraits of seven typical groups depicting the life picture of high consumption people

1. Small town spicy mother vs mature single sister: sinking market and emerging “single economy” potential

Living in the third and fourth tier cities, Lamma, a small town with parents’ support in housing and cars, has a lot of disposable income. The survey results show that they spend 2-3 times a week, and the total annual consumption amount is more than 100000 yuan.

Some small town spicy mothers leave the workplace temporarily and take care of their children at home. At the same time, they do not forget to use their leisure time to run micro businesses to subsidize their families. They are heavy users of social media: growing grass and being grass on social media, calling on friends to group up for overseas shopping, drying out “booty” and accepting praise from others.

Small town La Ma tries to keep up with the consumers in the first tier cities, and its pursuit of class symbols makes it easier to be attracted by luxury discounts and “chop hands” without hesitation. Premium consumption is the portrayal of “love oneself” and venting loneliness and anxiety of hot mom in small town.

Compared with the small town La Ma, which is prone to impulsive consumption, the mature single sister living in the first and second tier cities is more rational in large amount of consumption, but she will not hesitate to buy the cheap things she likes. They cross-border consumption once or twice a month, and the total annual consumption amount is more than 40000 yuan.

In terms of identity expression, mature single sisters often independently seek clothing matching reference from overseas channels such as instagram, and purchase minority brands independently, so as to pursue the uniqueness of “no collision shirt”.

Older than 30, single sisters have a higher pursuit of pleasing themselves. They think that love is not a necessity, but a icing on the cake. In pursuit of spiritual independence, music, fitness and tourism are their favorite leisure ways.

2. One million year old man & Shunyi mother: women in high net worth families still bear the heavy responsibility of purchasing

The report points out that the elite men who live in the first and second tier cities and earn more than one million yuan a year show extreme polarization: the happy big men love reading and sports, and think that the pleasure of work and life are almost the same; the anxious big men work at a pace of 10-10-6, they love hand games and short videos, and love the stress relief method of “no need to use their brains” after frequent overtime. Similarly, they do not have a high desire for consumption, but they love investment and home ownership. The cross-border consumption executive of a family is usually his wife.

In terms of consumption preference, the million year old pay more attention to product texture and shopping experience, and simple style is their favorite. Although the amount of cross-border consumption is relatively low, the annual expenditure on overseas home purchase and investment is not low. Investment oriented consumption is the main cross-border related expenditure.

The wife of a million year old man, that is, the mistress of a high net worth family, bears the heavy responsibility of purchasing the family. Their cross-border consumption frequency is 2-3 times a month, and the total amount of cross-border consumption is more than 100000 yuan.

Shunyi mothers, who live in Shangdong District of Beijing, are high net worth housewives. Their cross-border consumer goods are more diversified: in addition to clothing, shoes and bags, skin care products and other conventional consumer goods, they also include household daily necessities, household appliances, health care products and organic food.

Although the focus of her life is on her family, Shunyi’s mother, who is rich in spirit and high in knowledge, has her own opinions. They hope that the next generation can receive high-quality overseas education, and summer camps and other programs that add points to famous schools are sought after by them. High end overseas education has become the “standard configuration” for children from high net worth families.

3. Video game boy vs world adventurer: virtual world and real world have charm

20-30-year-old young men have the opposite pursuit of the world: 25-35-year-old “video game boy” is charmed by the charm of the virtual world and loves all kinds of electronic products; 20-28-year-old “world adventurer” who has just entered the society is constantly exploring the outside world and daring to take risks.

“Video game boy” pursues instant enjoyment and is very decisive when buying the favorite electronic products, and will not consider the price. They have a wide range of interests. They may be level 5 users of station B. they are also known as the “second dimension” in the mouth of others. They are veteran players on the court and fans of E-sports.

The video game boys who like electronic products are not “homestay men” in the traditional sense. They will not stock up and will buy when there is a demand. Driven by the psychology of novelty seeking and fresh tasting, many of them are seed users of emerging commodities.

In addition to buying all kinds of fashion brand and video game products, cross-border tourism is also a way for video game boys to pursue freshness. They pursue “satisfaction without being late”. Video game boys cross-border consumption 3-5 times a month, the total annual consumption amount is more than 80000 yuan.

Young and bold “world adventurers” are not only cost-effective but also risky for extreme sports interests. The hobby centered lifestyle has prompted adventurers around the world to fly to Thailand to dive, to the Emirates to parachute, to Switzerland to ski World adventurers are unwilling to be amateur players, training hard for “professionalism”, taking professional certificates and participating in professional competitions.

Extreme sports not only cost money, but also need the support of professional institutions. World adventurers value the professional degree of relevant institutions, and learn about information through official website and friends promotion. They spend 3-5 times a month across the border, with an annual total consumption of more than 100000 yuan.

4. Semi cooked father: Playful late baby father has taste

Half cooked fathers aged 35-50 still keep their hobbies when they were young, and they have unique facilities for playing. They cross-border consumption 2-3 times a month, and the total annual consumption amount is more than 50000 yuan.

Half of the dads no longer need to show off their personalities by being different. We should pay more attention to the cultural connotation in the regular 2-5 outbound tours every year, and will not “hit card” tourism. Semi cooked fathers are very independent in consumption and are keen to explore products that can bring fun to the family. They pay more attention to the quality and cultural connotation of commodities, and have a special preference for the limited commodities of the minority.

03. International brands should seize the hearts of female consumers

After talking about the four scenes and seven typical groups, combined with the trend of the past two years and the impact of the epidemic situation, Xichuang technology summed up three marketing trends of cross-border consumption in China.

First, the potential for sinking markets has exploded. The total population of China’s sinking market is 1 billion, accounting for 71.4% of China’s total population. During the double 11 period, more than 60% of the new users of the head e-commerce platform came from the sinking market. Comprehensive e-commerce + short video e-commerce + special sale activities are effective combination methods to pull new market.

Secondly, “cloud concert” and other online activities have become the mainstream channel of brand promotion. “Interaction” with users through live broadcasting will be a better brand promotion than simply carrying goods, and live exploring stores is an effective way for users to intuitively understand offline stores.

In addition, with the development of China’s cultural and creative industries, it has become a magic weapon for many brands to jointly brand and create “Meng” products. The co branding of traditional brands and young IP highlights the “cute contrast” and shortens the distance with young consumers.

In China’s cross-border consumer market, what are the key points to boost the growth of international brands?

In the Chinese market, circle economy is a new growth point. Among various circles, social media is the main channel for Chinese consumers to grow grass, seek reference information and communicate with each other. Taking advantage of the influence of KOL and Koc can reduce the decision-making burden of consumers and strengthen their impression on the brand.

Looking at the seven typical consumer groups, it is not difficult to see that cross-border consumption is becoming more diversified. When the buyer is not the user, the brand can start from the consumer’s social role and match the product recommendation. For example, putting diapers and beer shelves close together is a combination launched by many foreign stores for fathers.

Finally, brands still need to hold the hearts of female consumers. In terms of social division of labor, Chinese women are generally more likely to grasp the financial power and undertake the responsibility of family purchasing. Especially for the major categories of home-based consumption and happy consumption, it is necessary for them to pay more attention to the shopping experience of female consumers and the marketing elements that are easy to move women.

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