In China, the consumption of goods is an important factor because it helps most of the local organizations to accomplish their goals in the market and to remain competitive at international levels. However, it all depends on the types of goods that the customers out there in the market are consuming. There is always the need for most organizations to classify the consumption of goods based on income levels while at the same time ignoring other factors that play a central role in determining the types of goods such customers are consuming.
The Use of Big Data
The use of data in the market today is an essential innovation that is informing local brands about the current trends in consumption habits, which means that these organizations will be able to have the necessary information they can use to make professional decisions. Most of the organizations out there in the market continue to make some serious mistakes in their daily business operations whereby they do not know the types of goods that they can stock and where they can exactly target in the market.
However, the availability of data gives such companies a new direction and opportunity to know what they can stock and what they do not need to stock in their business operations as they push towards becoming influential organizations in the market. This is something that companies do not want to ignore as they work towards accomplishing some of the best goals and objectives they are interested in achieving, which is something that has always been central to the success of very many organizations out there in the market.
Consumption of Domestic Goods in Tier 1 Cities
According to JD Big Data, most of the customers in tier 1 cities are traditionally known for consuming brands from the international markets. This is something that most of the organizations in the market have been able to incorporate in their daily business operations, and it has been guiding them to always operate in the right areas. Such organizations do not want to make possible mistakes as they continue to push and work hard in the market so that they can easily accomplish their objectives in the market.
Traditionally, it is the tier 5 and 6 cities across the country that have been the dominant markets for local goods. That is why even some of the leading companies like JD.com have been working hard to make sure that most of the stores and online platforms that are offering professional services in most of the smaller cities are stocked with domestic goods. This is the only way they will be able to meet the needs of the customers in the changing business environment.
A Gradual Shift in Consumption Trends
According to JD Big Data, there is a gradual shift in consumption trends in most of the tier 1 cities across the country. Although most of the people in these cities are currently focused on consuming products from international brands, it is essential to indicate that a significant number of these families are now turning to local products. This is an important factor that is likely to change how most organizations have been structuring their operations in the market.
However, this increase in the consumption of domestic goods by customers in tier 1 cities is not something that has only happened in 2020. JD Big Data shows that there has been a gradual trend in the consumption of the local goods and that the increase has been gradual. This gradual shift in the consumption trends across the country is something that calls for an immediate shift in the way most retail organizations have been operating.