Chinese consumers say concerns about personal privacy, the environment and their security will stop them from purchasing new products, according to a new study from Edelman.
Raised in a high growth, fast changing society, a vast majority (94%) of Chinese consumers now view innovation itself as an essential component of society’s progress. And more than 4 in 5 (85%) believe it’s the responsibility of business to drive this innovation.
However, there is discomfort at the role of business in innovation. The majority of respondents believe innovation comes at a personal and societal cost with privacy (58%) and environmental impact (52%) the major concerns.
“It seems innovation in and of itself is not enough to be liked, trusted or bought,” said Carol Potter, executive vice chairman, Edelman Asia Pacific, Middle East & Africa. “We find consumers simultaneously positive about the benefits of innovation at the same time as anxious, uncomfortable and skeptical about the companies that bring it.”
The full report is worth reading to find out more about Chinese consumers conflicted attitudes to business.
Innovation and the Earned Brand in China [Edelman]