Survey shows Chinese consumers have confidence in medium-and long-term economic development

Xinhua Beijing, June 3 (Xinhua Fang Ning) A report released 3rd by the Boston Consulting Company (BCG) shows that global consumers are increasingly worried about the continued deterioration of the economy, but Chinese consumers are still more optimistic and have confidence in the long-term development of the country's economy.　　The report, entitled "Winning consumers during a recession: 2009 BCG Global Consumer confidence survey," was based on BCG's survey of 21,800 consumers in 13 countries around the world. The survey shows that 75% of Chinese consumers plan to maintain or increase consumption over the next year, which is almost two to three times times that of European and American consumers.　　Of all the countries surveyed, China is the only country in which the trend towards consumer escalation goes beyond the downgrade. Boston consulting firm Asia Consumer Insight leaders of the think-tank, Liao Tianxu, a partner of the company, said that while China could not avoid being affected by the global recession, it was still a bright spot. "The demand for brands in the Chinese market remains strong, and the brand's influence is much more pronounced in China than in most other countries," says the firm's partners. Chinese consumers are willing to upgrade their spending on the categories they value most, such as high-end food and baby supplies, because they think these brands are more likely to ensure product quality and safety.　　Liao Tianxu said the survey shows that consumer goods companies can still win consumers ' hearts even in a downturn if they can give consumers reasonable reasons. The report shows that consumer confidence in markets such as Europe, America and Japan has plummeted, creating a new form of consumption characterized by moderation and self-discipline.　　This consumption pattern will have a revolutionary impact on the major commercial districts. The subsequent impact of a plummeting consumer confidence index is a clear shift in consumer behaviour: impulsive impulse shopping is obsolete, and it is now fashionable to "tighten the belt" – with some indicators that the confidence index in the US, Spain and Japan has fallen to record lows.