China's Connected Consumers - When 10,000 Chinese shop... Insights from a 2015
Communications & Marketing
12:00-1:45pm. At this briefing, KPMG will share highlights from their recently launched new ecommerce survey of online spending in China, titled China's Connected Consumers , in partnership with Mei.com (A China-based online flash retailer of luxury brands) and Weibo (An online social media platform in China). The new report analyses responses from 10,150 Chinese online consumers on their online spending patterns. It is a sequel to a 2014 survey on online luxury spending in China and highlights the rise of online transactions, as well as the increasingly important roles of social media and mobile devices. Amongst the key findings, 45 percent of respondents said they purchased most of their luxury items through online options. They also indicated the maximum amount they felt comfortable paying online for a single item is RMB 4,200 – far higher than the RMB 1,900 they indicated in 2014 – an increase of 121 percent.
The smartphone is the most commonly used device for retail; KPMG expects mobile commerce expenditure to soon far exceed the PC internet platform, as Chinese consumers become more sophisticated and expand their purchasing platforms. The top driver for purchasing online remains pricing and better deals. However the survey found that close to one-third of respondents had made luxury online purchases at the full, non-discounted price. This is a development as other factors are starting to have more of an impact on people's purchases, including product origin and its uniqueness. First 15-20 minutes is for networking Sandwiches & beverages included Hosted by the Communications & Marketing Committee
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong