Deloitte Consulting: 2022 China Import Consumption Market Research Report

Key findings of the report:

1. China's continued opening-up promotes the sustained growth of high-quality imported consumer goods

1. The Chinese market leads the global economic recovery, and consumption has a significant driving force on the economy

• The consumption recovery has further boosted China's economic activity and injected important impetus into the world economic recovery.
• In 2021, final consumption expenditure contributed 65.4% to economic growth, becoming a stabilizer and ballast to maintain the smooth operation of the economy.

2. China's import consumption continues to expand

As my country further expands its opening up to the outside world, imported brands and goods have increasingly enriched the domestic consumer market, and import consumption continues to be an important driving force for consumption upgrading; the global industrial chain, value chain, supply chain, and service chain are being reconstructed at an accelerated pace, and new business forms and models represented by cross-border e-commerce are rapidly emerging, which has become an important trend in international trade and a new force in my country's foreign trade development.

3. Consumption of imported essential and optional products remains resilient

• Looking back at the data of various types of imported consumer goods in China over the past three years, China's import consumption has remained relatively resilient.
• In the post-epidemic era, with less instant consumption abroad, overseas shopping consumers are more looking forward to novelty in life, and have shown a clear preference for imported categories such as sports equipment, skin care, maternal and child products, pets, and digital products.

2. Insights into import consumers in the pandemic era

1. Post-epidemic consumption returns to family and personal needs, driving rapid growth in imported sports and beauty/personal care products

• The increase in self-interest investment and outdoor social needs has driven the rapid growth of sales of imported outdoor products
• The increase in consumers' home scenes has given rise to demand for refined beauty/personal care and professional-grade maintenance, and has driven a rapid increase in sales

2. Under the guidance of scientific parenting concepts, maternal and infant consumers pay more attention to the actual value and professionalism of products

Under the guidance of scientific parenting, the new generation of young parents hope to give their children better and are willing to try new categories of maternal and infant care, covering imported infant and toddler washing, feeding, nutrition and pregnancy products.

3. Health preservation in the post-epidemic era: Health concerns throughout the life cycle are highlighted, and health needs from the body to the mind are increasing

• Under the trend of high-quality health care, functional foods focusing on health and beauty have begun to be favored by consumers
• Self-pleasing rituals enhance the home experience and heal yourself with refined life

4. The number of people living alone is increasing, and consumers’ demand for companionship and affection is growing

With the differentiation of intergenerational values ​​and the shrinking size of households, the number of people living alone is increasing rapidly. As Chinese consumers begin to seek more ways to live and entertain while living alone, the demand for digital products and pets is increasing rapidly.

5. Consumers are concerned about the environment, climate and green space, and their awareness of participation is prominent

• The continuous improvement of consumers' awareness of environmental responsibility has boosted import second-hand e-commerce consumption
• Second-hand luxury goods are becoming popular, and circular fashion has become a trend

2. Digital operations help overseas brands cultivate the future

1. Digital operations enhance the competitiveness of overseas brands in China

With the help of digitalization, the brand will quickly increase its overseas brand voice and performance, and ultimately achieve refined operations covering the entire region.

2. The consumer metaverse may become a new development opportunity for import retailers

Interactions such as AR try-on, digital idol traffic generation, and metaverse space marketing and expansion will take the lead in opening up the practice of consumer metaverse and will also become the focus of the development of the imported consumer metaverse.