Some Cultural Features of the Chinese Market

1. Saving versus Consuming
   Thriftiness is a virtue in Chinese culture, which speaks for itself, especially before the start of the open-door policy in 1978. Therefore, the basic pattern of consumption was saving money and then spending. But with the rapid economic development, people tend to consume more readily, and in recent years, the concept and practice of making use of loans from the bank for domestic electronic appliances, means of transport and even houses and cars are becoming more and more popular.
   
2. Comparing before Purchasing
   The Chinese customers tend to compare commodities which they are interested in many times in different shops before they take their money from their pockets. That may be the reason why Chinese shops that deal with similar commodities always gather together. It is easier for the customers to make their comparisons this way so that every shop can have business. This habit of comparing before purchasing especially reflects the consumptive behavior of some of the Chinese ladies.
   
3. Naming the Business and Branding in China
   Names play an important role in the Chinese social life. Therefore every body and everything must have a proper name, no matter whether a person, an organization or a commodity, which should have a nice sound, a right form and which should bear an appropriate meaning which is linked to the nature of the commodity. For example, Benz in the Chinese language is 奔驰 meaning going fast. The translation of Carefoure, a French supermarket, is 家乐福 which implies the family is happy and lucky.

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