Global Sourcing Market Surveys

Conducting thorough research is a vital part of making any informed business decision. Gathering as much information as possible prior to venturing into unfound territory like new markets helps businesses make smart, cost-effective choices for their companies, staff, and production as a whole. Market research and market surveys are a vital component of the research phase and should never be ignored in the initial stages of product development. Every market comes with consumer trends and buying patterns, many of which differ from one industry to the next. What works for one customer base may not work for another. China Sourcing International’s many years of experience have shown us what tends to work in certain parts of the world and individual markets. By partnering with us, you’ll be able to leverage our expertise in this area and so many others.

Consumer Trends in China and East Asian Nations

The consumer market in China and nearby East Asian countries is well-known for its low-cost and high-quality raw materials and manufacturing processes. China is home to the world’s second largest economy, where demand for goods is on par with supply. The consumer-saturated market in China regularly sees the development of many new OEM and ODM products, especially in the electronic device and personal care products industries.

Similarly, Japan and Korea are also well-known for their contributions to the beauty industry. This includes skincare tools and products like gua sha and facial rollers amongst other highly innovative concepts that have yet to hit the market.

Consumer Trends in Brazil and Latin America

Certain industries like e-commerce have seen recent growth in parts of the world like Latin America. This trend has led to a boom in the LatAm economy, which has already started to tick upwards. Although Brazil and Latin America are well-known exporters of primary commodities like foodstuffs and plant products, this part of the world is also a major contributor in several other areas of consumer goods. Some of the most active markets in Latin America are the earphones and headphones market, jewelry, wearable medical devices (i.e., glucose trackers, blood pressure trackers, activity trackers, etc.), videogames, and cosmetics. Coupled with record low exchange rates and monetary simuli, exporting products to Brazil and other Latin American nations has become of high interest to many businesses around the globe.

Consumer Trends in Indonesia and Southeast Asia

Rich in natural resources, Indonesia and the surrounding Southeast Asian nations have become an exportation focal point over the years. Indonesia is a young country with more than half of the population under 30 years old. There is an extremely large workforce and consumer base to be reckoned with. That coupled with a growing manufacturing industry and less of a reliance on raw commodities has resulted in consumers having more spending power. Recent liberalization and investment developments in nearby countries such as Malaysia and Myanmar further support this upward trajectory.

Consumer Trends in Ethiopia and African Nations

For the past 9 years, Ethiopia has seen a consistent year on year increase in consumer spending with no visible signs of slowing down anywhere in the near future. Personal health awareness has become an increasing concern of many in light of the COVID-19 pandemic. This may influence consumer buying decisions, especially as they relate to personal hygiene products. Unfortunately, access to clean running water is still a problem for the majority of Ethiopian and African nation households; less than 20% of homes have baths or showers. While this makes prioritizing hygiene a challenge, it also emphasizes the region’s reliance on multi-use products that are available at more affordable price points. As governmental programs work to stabilize macroeconomic reform, Ethiopia and other African nations’ consumers have also seen growth in the home care, adult and baby diapers, sanitary pads, electronic irons, TV sets, radios, and household products markets. 

Gain real-time insight into the markets you and your company are looking to enter by working with the leading sourcing and manufacturing company in China. The team here at China Sourcing International is ready to help you make the most of the information that is available to you. Email [email protected] to get started.