Hong Kong consumers have little trust in local brands, according to McCann Worldgroup’s latest research.
Titled “Truth about Global Brands 2: Decoding the Shifting Dynamics for Brands in Hong Kong and Southern China”, the report has unveiled that people around the world have shifted from trusting global brands in 2015 to trusting mostly local brands in 2018.
However, this did not apply to Hong Kong as only 7% of people in the city trusted local brands. Meanwhile in China, 64% trusted local brands over global brands.
When it comes to globalisation, both 90% of Chinese and 59% of Hong Kong people agreed that it has expanded their opportunities; while 90% of people in China agreed that the blending of cultures leads to a better world, compared to 75% of Hong Kong.
When asked in what way a brand could play a more meaningful role in the lives of people today, people in Hong Kong wanted brands to make the world a better place, while Chinese respondents wanted brands to add value to their country and community.
Only 65% of Hong Kong people believed that global brands have the power to make the world better, while 88% of their counterparts in China agreed, higher than the global average of 81%.
The study has also examined the level of trust among Hong Kong and Chinese people. Half of Hong Kong respondents said they did not trust reviews on the internet, and almost 70% of them agreed that social media was created to bring us together, but instead it now divides us.
In contrast. there is generally a higher level of trust, especially towards the government, in China. 63% said they trust the media, although when it comes to a newsworthy story, they reviewed more than six sources in order to feel like they know the “truth”.
Speaking of tension, 87% of Hong Kong people feel that people are generally angrier nowadays, and 72% say it’s more important to be prepared for the worst in every person and situation. In China, people are generally more positive, as 87% consider their country to be forward-thinking in most ways, and 89% feel proud of their country’s identity.