China’s consumers are ahead of their global counterparts in terms of adopting new technologies, finds KPMG’s new consumer survey titled Me, my life, my wallet.
The global study includes a survey of more than 25,000 consumers in the UK, US, UAE, France, Brazil, Canada, China and India, assessing consumption behaviours.
The survey highlights that more than half (53 percent) of China respondents say that they are very interested in new technology and will be the first ones to buy a new device when it comes out, ahead of the 29 percent global average. In addition, eight in ten Chinese consumers believe it is important for brands they regularly purchase from to have a dynamic social media presence.
Today, it is imperative that retail companies think more about digital transformation to create a truly connected enterprise to harness the power of data. Companies also need to think about how to use data responsibly to build deeper insights and relationships with their customers. As such, they must engage their customers in an open and honest dialogue about such use. If you want to view the latest KPMG global survey on consumer behaviour, please click here to download the report.