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THE ADDED ADVANTAGE OF THE SHANGHAI EXPO - SHORING UP CONSUMER SENTIMENT AND CONSUMER SPEND IN THE CITY
A qualitative market research study on the positive impact that preparations for the Shanghai Expo have on Consumer Sentiment in the City
Abstract
The Shanghai government will spend US$ 4.2 billion on the preparation and hosting of the Shanghai Expo. There are clear indications that a large portion of this spending will be recouped by the positive impact that the Expo is having on consumer sentiment and resultant consumer spending in the city.
The monthly DDMA Consumer Sentiment study identified Shanghai as one of the markets in China where consumer sentiment and willingness to spend declined the most with the onset of global economic turmoil in late 2008. The same study now reveals that consumer sentiment has improved since the start of the year and that upcoming Shanghai Expo is playing a role in restoring consumer confidence and willingness to spend among Shanghai consumers.
With just over 250 days left until the opening of the Shanghai Expo, the development of the Shanghai Expo site and the supporting coverage in the local media is having a very positive effect on consumer sentiment in Shanghai. This research paper highlights the positive effect which the Expo is having on the city's consumers. The findings indicate that the increase in consumer sentiment and the resulting consumer spending are being helped in part by the preparations for the Shanghai Expo and that this may contribute in part to justify the expense in hosting the event in Shanghai.