China consumer results from Oracle’s New Retail Democracy research were revealed today by Allen Miao, Country Leader, China, Oracle Retail, during a press event held at the Oracle Beijing office, in which key trends were outlined along with the impact of the research findings for China’s retail businesses.
China is a growth economy in terms of retail, with the National Bureau of Statistics reporting an 11.8% growth in consumer spending last year. The New Retail Democracy found that access to knowledge is becoming increasingly important for Chinese consumers, providing a challenge to retailers in terms of providing product, availability and location information to their customers as they shop across multiple touch points.
Some of the highlights from the China consumer research were:
- 96% of Chinese consumers think understanding availability of products is important
- 82% say availability is more of a priority than price
- 89% feel it is important that any interaction with a retailer is individual to them and their requirements
- 83% of respondents increase spend when interacting with a retail assistant
- 97% say it is important that retailers adopt new technologies to improve their shopping experiences
To access the full China research findings, visit The New Retail Democracy microsite and access whitepapers, infographics and fact sheets. Global results are already available, along with Japanese and French findings, with details on Germany, Russia and the UK scheduled for distribution shortly.
The research, carried out by market leading research firm RedShift Research, surveyed 4,500 consumers across Brazil, China, France, Germany, Japan, Russia, South Korea, the UK and the USA.
