Everything you need to know to enter the luxury market in China
The Chinese market is becoming the most lucrative in the world in many sectors. With over 350 million middle-class consumers, 7% YoY GDP growth, and a powerful online ecosystem for marketing and sales. China certainly offers great potential for savvy businesses. All this attracts more than one. Discover in this article everything about the luxury market in China.
International brands are really appreciated by the Chinese people
It is well known that the Chinese market has problems with counterfeit products, fake domestic products and inferior quality. But what is China's plan in reality? An essential part of the China project is to harness the positive association of Chinese people who produce international products. This is my response because this status allows a brand from China to differentiate itself from its local competitors in terms of quality and reputation. Chinese consumers, especially young consumers, the so-called Generation Z, are attracted to the Western world and like to buy products from international brands.
Communication in China is digital
Out of a population of 1.4 billion people, more than 904 million Chinese are online. China has the largest online community in the world. In addition to this, the web has developed a unique set of conditions. It was designed for the ultra-consumer society of modern China and is perfect for online marketing, sales and branding. All marketing campaigns are almost entirely online, simply because it provides the best exposure, reach, influence, and ROI. In the unique digital ecosystem of modern China, you have many Chinese platforms that have been developed to communicate with Chinese users very effectively. Without Facebook, rather WeChat, without Twitter, rather with Weibo, without Google, instead of Baidu and forget YouTube, it's time to embrace Youku. All of these platforms have unique characteristics and are very effective in reaching a large and active audience.