China retailers plan to buy more imported goods to meet consumer demand, survey shows

Jun Mai
Chinese retailers and wholesalers plan to increase their purchases of imported products because demand for them among Chinese shoppers remains strong, according to survey results published by China’s Ministry of Commerce.Some 9.7 per cent of the 945 retail and wholesale firms that responded to the Ministry of Commerce survey said they would increase their consumer product imports in the next year, 2.5 percentage points higher than those planning to decrease their purchases.Of 1,059 consumers surveyed, 24.1 per cent planned more purchases of imported products, with strong demand for food, maternal and infant products, cosmetics, watches and glasses, jewellery and passenger vehicles.Nearly 80 per cent of the consumers who responded to the survey said they had bought imported consumer products at least once. According to 41.7 per cent of the surveyed consumers, such purchases accounted for more than 10 per cent of their buying in a particular product category.A product’s brand name and reputation was the top consideration when retailers and wholesalers imported consumer products, while safety also mattered in food and maternal and infant products, while design was important in apparel and jewellery choices, the survey showed.The survey is part of the ministry’s efforts to help prepare for the second China International Import Expo, which will be held in Shanghai from November 5 to 10 this year.China’s imports totalled 6.72 trillion yuan (US$977 billion) in the first half of this year, up 1.4 per cent from the same period a year earlier.More from South China Morning Post: * Why are more of China’s students returning from overseas big fans of the Chinese economic model? * China economy: ‘worst is yet to come’ with trade war tariffs likely to escalate, Nomura economists say * Chinese firms ask for tariff exemptions to buy US agricultural products, state media says * US-China tech race could be decided by population management as superpowers battle for talent * China expected to implement more economic stimulus despite growing debt and weak yuanThis article China retailers plan to buy more imported goods to meet consumer demand, survey shows first appeared on South China Morning PostFor the latest news from the South China Morning Post download our mobile app. Copyright 2019.

Chinese retailers and wholesalers plan to increase their purchases of imported products because demand for them among Chinese shoppers remains strong, according to survey results published by China’s Ministry of Commerce.

Some 9.7 per cent of the 945 retail and wholesale firms that responded to the Ministry of Commerce survey said they would increase their consumer product imports in the next year, 2.5 percentage points higher than those planning to decrease their purchases.

Of 1,059 consumers surveyed, 24.1 per cent planned more purchases of imported products, with strong demand for food, maternal and infant products, cosmetics, watches and glasses, jewellery and passenger vehicles.

Nearly 80 per cent of the consumers who responded to the survey said they had bought imported consumer products at least once. According to 41.7 per cent of the surveyed consumers, such purchases accounted for more than 10 per cent of their buying in a particular product category.

A product’s brand name and reputation was the top consideration when retailers and wholesalers imported consumer products, while safety also mattered in food and maternal and infant products, while design was important in apparel and jewellery choices, the survey showed.

The survey is part of the ministry’s efforts to help prepare for the second China International Import Expo, which will be held in Shanghai from November 5 to 10 this year.

China’s imports totalled 6.72 trillion yuan (US$977 billion) in the first half of this year, up 1.4 per cent from the same period a year earlier.

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This article China retailers plan to buy more imported goods to meet consumer demand, survey shows first appeared on South China Morning Post

For the latest news from the South China Morning Post download our mobile app. Copyright 2019.