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Chinese consumers pick safety as top priority for infant goods
By YonhapPublished : Jan. 11, 2018 - 11:11
Product safety is the top priority for Chinese consumers of infant goods, a report said Thursday.
The report by the Korea Trade-Investment Promotion Agency said South Korean companies need to focus on improving the safety of products while making inroads into the infant goods market in China.
The number of newborns rose by 1.31 million to 17.8 million in 2016 from a year earlier as the Beijing government lifted the decades old "one-child policy" and allowed couples to have a second child if one parent is an only child.
The market size of China's infant goods increased 15.9 percent on-year to 310 trillion won ($289 billion) in 2016 and is expected to double by 2020.
About 66 percent of Chinese consumers purchase infant products at shops specializing in infant goods, while only 10 percent shop at online shopping malls, according to a recent survey in China.
Of those who opted for shops specializing in infant goods, 62 percent said they preferred the specialty shops as they can guarantee the quality of products, while 38 percent said they liked the wide variety offered.
"South Korean firms need to prioritize making quality goods as Chinese consumers of infant goods put more focus on the safety and credibility of products over prices," the report said. (Yonhap)
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