Market opportunities in China
The expected trends for the upcoming years in China open a wide range of opportunities for new business implementation and the entrance of Western companies. Let’s analyze how to bring value to the country avoiding as much risk as possible.
Growth brings up the increase of urban population due to the movement from rural areas, and so it’s happening in China. The rich population will increase more and more and a new Upper Middle Class will arise due to the enrichment of the actual middle class.
Another mega trend is the increasing use of the online industry. Especially for people in rural areas, 65% of them really enjoy shopping online, and 43% like being the first to try new products. Focusing in online activities, the development of the O2O (Online to Offline) in the services offered will definitely bring benefits to the companies due to its embrace by Chinese consumers. It would be really interesting for the online industry to explore this segment and potentiate their business opportunities.
It is really important to mention how important is a foreign brand with a foreign product is for them. Chinese brands aren’t that well appreciated by them so products and services with a Western scent suppose an advantage. Although, understanding the niches, the different values and hierarchies of value is a must if you want to be successful with your foreign brand.
There are many segments where Western standards would be welcomed by consumers. Figuring out how to execute these opportunities is the challenge in such a diverse market.
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21 Mar 2015
por
mfernandezsansegundo
MBAftmad /
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