The Chinese market research industry should grow at 20% annually compared with a global rate of less than 10% according to ESOMAR President Jose Ignacio Wert, speaking at the worldwide organisationâs conference in Shanghai.
Wert told delegates at the Worldwide Multimedia Measurement 2006 forum that China, one of the fastest growing countries in the MR sector globally: âEven a small segment of the Chinese MR market covers many people, equal to the population of a European countryâ?.
The Chinese MR market generated 3.9 billion yuan (US$487 million) last year, 22% up on 2004, according to figures from the China Marketing Research Association.
Among the key facts discussed at the Conference; most Chinese families remain poor by Western standards, but the middle class now numbers about 100 million. Chinaâs top spenders on market research are mostly multinational companies involved in manufacturing, wholesaling, retailing financial services and information technology, according to Victor Yuan, Chairman of Beijing-based agency Horizon and the Chinese Associationâs Vice Director.
Internet-based research targeting blogs and email will revolutionise the market, but it still faces many problems in China. âIn China, [online research] accounts for only 2 percent, and it wonât grow rapidly in a short periodâ?, according to Yuan.
Public perceptions of MR in the country are being tarnished and online participation rates affected by firms who illegally obtain identity information and then disturb consumers with junk emails and unwelcome phone calls.
At the start of 2007 B2B International will be opening B2B China, a consultancy based in Beijing. For more information about this, please contact Matthew Harrison or Alaric Fairbanks on + 44 (0) 161 440 6000.