On Monday March 2 at 5PM Beijing Time Shaun Rein , managing director of the leading research firm CMR in Shanghai will participate in the first Global China Chat of the China Speakers Bureau, looking into consumer confidence in China.
China's upcoming middle class and its spending power has become a center piece in the central government's efforts to address the ongoing economic troubles in the country. But the message from the better-off in China has been mixed to put it mildly. Some seem to continue to spend, especially in the higher segments. Grass root white collar initiative suggest the opposite, that urbanites are starting to save their money ahead of what they expect to be troublesome times.
Shaun Rein recently traveled the country, to get also a better insight of what is happening outside the bigger cities and will share some of his findings on Monday.
Some of the issues he will address, based on recent research:
60% of consumers of several hundred consumers CMR interviewed in 6 cities in January said they would spend more in 2009 than in 2008, except for in the real estate and auto sectors.
Consumers are taking a wait and see attitude, think prices will drop rather than fear of the future that is stopping them from buying.
Prioritizing value. Value does not necessarily mean cheaper.
Biggest spending increases will be on leisure and education. Expect online games and e-commerce to boom.
The one-hour session will be moderated by Maria Korolov and can be followed through any computer with an internet connection. We will be using technology from coveritlive.com making it possible for a global audience to easy participate in the chat. The chat will be hosted at the weblog of the China Speakers Bureau and the China Herald, but can also be followed directly at coveritlive.Preregistering is possible here, so you make sure you won't miss this event. Because of the timing, it can be followed most conveniently in Asian and European time zones. After the chat the session will remain online.
The China Speakers Bureau is the leading speakers' agency providing speakers on any China-related subject for a global audience.