British market research and consulting agency Mintel tracks consumer spending trends in more than 30 major markets around the world. The company's global CEO Matthew Nelson said that based on data research on the Chinese market, Mintel is firmly optimistic about the development potential of the Chinese market.
He said that China's technology level is constantly improving, people's living standards are improving day by day, and the green economy is developing rapidly. Mintel is very optimistic about the growth prospects of the Chinese market.
Multiple survey reports released by Mintel show that consumer confidence data in the Chinese market is very positive. Nelson said that driven by stable economic growth and people's desire for a healthier lifestyle, consumer spending in the Chinese market will continue to show a moderate growth trend in the next few years.
Nelson said that in the past few years, the purchasing power of Chinese consumers, especially those in non-first- and second-tier cities, has continued to increase, providing huge growth opportunities for many global brands. These brands “definitely should pay attention to the Chinese market”. China is coordinating epidemic prevention and control and economic and social development, and the vigorous development of China's economy is of positive significance to the global economy.
Liu Zhongyou, the representative of the Scottish International Development Agency in China, said in an interview that the Chinese market is flexible and absolutely important to Scottish companies. "I think the Chinese market will become more important (after the epidemic)."