Rationality and AI Reshape China’s Consumer Market, Report Finds
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Chinese consumers are gravitating toward domestic brands and artificial intelligence to guide their shopping decisions, as tighter budgets and a cooling economy usher in a new era of rational consumption.
According to a report published Nov. 10 by consulting firm Accenture, value-for-money has overtaken brand loyalty in consumer priorities, with domestic brands enjoying a significant boost in popularity. Based on a survey of 5,000 people across cities from tier one through five, the report found that 37% of Chinese consumers now rely on AI tools to assist with their purchases.
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- Chinese consumers increasingly favor domestic brands and value-for-money, with 37% using AI tools for shopping, amid economic pressures.
- In beauty, electronics, and apparel, preference for local brands has sharply risen since 2021; 55% now frequently compare brands, up 13 points.
- Health and wealth have grown in importance, while e-commerce, livestreaming, and AI-driven platforms are now key shopping resources.
- Accenture
- Accenture is a consulting firm that published a report on November 10. The report, based on a survey of 5,000 Chinese consumers, highlights shifts in shopping habits. It indicates that value for money has surpassed brand loyalty and that domestic brands are gaining popularity. The report also notes a significant reliance on AI tools for shopping decisions among Chinese consumers. Wang Yijun, president of Accenture Song in Greater China, commented on the economic pressures driving these changes.
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