 |
|
|
|
|
China, Nov 9, 2011 (ACN) - Mainland China's surging middle-class demand for consumer services offers major opportunities for Hong Kong companies, according to a Hong Kong Trade Development Council (HKTDC) survey of 1,600 residents in eight mainland cities.
More than 80% of the respondents indicated that they were more willing to spend than they were three years ago, while almost 80% pay attention to trends and one-third admit that they observe the lifestyle and consumption of others to make sure that their interests correspond.
The mainland middle class offers tremendous opportunities for Hong Kong companies, according to HKTDC Senior Economist Billy Wong. "The mainland’s social and economic environment creates growing demand for leisure and training services. This translates into higher spending on consumer services," he said.
The HKTDC survey focused on middle-class mainland consumers in Beijing, Changsha, Chengdu, Guangzhou, Nanjing, Shanghai, Shenyang and Wuhan. Major findings include:
Dining: 44% of interviewees dine out more often than they did three years ago; increased dining with friends, colleagues and relatives is the major reason for not eating at home; average expenditure on a good meal is Rmb127.30 and Rmb46.2 on a casual meal.
Beauty: 31% of interviewees go to beauty salons more often today, with 91% visiting beauty salons at least once a month; 46% agree that a beauty salon is also a place for relaxation; 55% hold a beauty salon membership card, with the average registration fee being Rmb1,901.
Fitness: 29% of interviewees went to a fitness studio more often; major incentives are a heightened awareness of health and personal image; average consumption in fitness studios over the past year was Rmb1,782.
Entertainment: 23% of interviewees said they would pay attention to relevant Information and take the initiative to explore new activities; 62% said they would not intentionally explore new activities, but would be willing to try new ones if they were available; the most popular entertainment activities over the past year included karaoke (82%), movies (74%) and chess and board games (47%).
Travel: About 40% of interviewees travelled more often to Hong Kong and abroad; they took an average 2.3 domestic trips of two to three days each in length, and 2.2 domestic trips lasting more than three days each.
Training: Half the interviewees paid for their own training expenses; they spent an average of Rmb3,703 in training during the past year; those planning to participate in training in the coming year intend to spend an average of Rmb4,097.
The survey also showed that mainland middle-class consumers see Hong Kong as an "international city," while more than 85% consider Hong Kong’s services industry of higher standard than the mainland’s; and nearly 85% regard the Hong Kong services sector as a better trendsetter than the mainland sector.
Hong Kong Advantage
Wong said that the majority of mainland middle-class consumers have a better impression of projects managed and operated by Hong Kong companies. "In general, they think that the advantages of consumer services managed by Hong Kong companies include excellent services, professional personnel and equipment, better environment and standardized management," he said.
The survey also investigated various aspects of middle-class consumers in the eight mainland cities, including the channels through which consumers get information, deciding factors and the differences in consumption behavior between men and women.
Topic: Press release summary
Sectors: Consumers, Business General
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2012 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
