Guanxi Relationship (Guan-she) 关系 No Guanxi Guanxi
Only Child Generation (OCG) Vs. Traditional Consumers OCGers – New consumers Traditional Coming of age in an era of unceasing economic growth. Came of age in an era of hardship. Liberal spending: low saving rate. Conservative spending: a culture of Savings, with a saving rate of 40%. No cultural resistance to credit cards. Cash is king. Psychological complexity behind purchases. Buy for Face, Position, guanshe. “ 货比三家 ” compare three shops mentality- decision making based primarily on price. Buy for Lineage. Tech savvy, always seeking the latest in technology and fashion. Will “make-do” with older or outdated products.