China’s young consumers are snubbing foreign brands amid growing national pride, says Credit Suisse

China is seeing the emergence of a generation of consumers who are more likely to opt for home-made brands, spurred by a growing sense of national pride, according to a survey by Credit Suisse.

The old adage that foreign brands are superior no longer holds true for young Chinese shoppers, who are increasingly showing a “domestic brand bias” amid “a degree of nationalism” in the world’s biggest consumer market, the study found.

More than 90 per cent of Chinese consumers in the 18 to 29 age bracket said they would prefer to buy domestic home appliance brands in the next six to 12 months, Credit Suisse’s eighth annual emerging consumer survey found.

And the percentage of those aged 18 to 65 who said they would be willing to pay more for domestic sportswear brands than for international ones has increased to 19 per cent last year from 15 per cent in 2010.

The results of the study also suggest the mainland’s young consumers are becoming more assured in their choices, splashing out more money on leisure, travel and goods that enhance their lifestyle. 

“We are surprised to see the rising of a more confident generation of consumers in China,” said Charlie Chen, head of China consumer research at Credit Suisse.

“Chinese consumers, especially the younger generation, don’t just believe the notion that foreign brands are better. Right now, Chinese consumers think China is good and ‘Made in China’ is not bad at all.”