Chinese Consumers Open Wallets for Products
Purchases of environmental goods expand in China, the U.S.
Germany and Japan in order -
KITA says it is necessary for environmental goods related exporters
to seek export opportunities -
As the environmental
issues are more highlighted recently, the number of international consumers who
prefer eco-friendly products is increasing. The Korea International Trade
Association (KITA) surveyed 800 consumers in the United States, Japan, China
and Germany. According to the survey result, 98.5 percent of the Chinese
respondents were interested in environmental goods, and 92% of the Chinese
consumers said that they have experiences of purchasing environmental products.
to the report titled 'Purchasing tendency of environmental goods in major
countries and export expansion strategies' issued by the Institute for
International Trade of the Korea International Trade Association, 81.6 percent
of consumers in four countries have purchased environmental products, 95.7
percent of them were satisfied with the products and 84.1 percent of the
respondents said that they would increase the purchase of environmental goods
in the future. The experiences of purchasing environmental goods by country
appears in the order of China (92.0%) > Germany (85.5%) > the U.S.
(81.0%) > Japan (68.0%). The consumers in the U.S. (99.4%)> Germany
(95.3%)> Japan (94.8%), and China (93.5%) were satisfied with the
environmental products. 98 percent of Chinese consumers said that they would
increase their purchases of environmental goods in the future, which is much
higher than that of the U.S. (87.5%), Germany (81.5%) and Japan (69.5%).
environmental goods, excellent performance and product reliability were highly
appreciated. However, low durability and high price were the factors to avoid
purchasing of Korean goods. Therefore, complementary measures are required. In
China, however, it is important to focus on enhancing the environmental image
of products by attaching environmental marks and pursuing high-quality,
high-value-added products as Chinese consumers have less price resistance and
care more of environmental-friendliness of products.
The report suggests
that it is required to focus on the household goods market in the U.S. and aim
to enter into the market by expanding the opportunities for consumers to
experience the products. For the Japanese market, the report proposes to target
the office supplies and stationary markets with excellent durability and
customized design of environmental goods. In addition, as German consumers care
about energy saving, the report analyzed that it would be beneficial to target
the power-saving electronic products market in Germany with an experiential
marketing strategy that emphasizes price competitiveness and durability.
Jang Hyun-sook, a research
fellow at the Institute for International Trade of KITA, said, "The market
is growing rapidly as the environment goods and services become mainstream from
the niche market.” The researcher added “There are differences in the preferences of goods and purchasing
decision factors from country to country. Therefore, it is possible to increase
the probability of success by accurately grasping what the consumers in
different countries want or expect and properly reflect them to the products as
well as strategies.”