INSIGHTS by HDTS
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The 800 Pound eCommerce Gorilla
Only 40% of China’s 1.3 billion population currently uses the Internet, and China’s per capita income is 1/11th that of the US, yet per capita eCommerce spending by Chinese consumers is 78% that of US consumers.
China’s eCommerce tidal wave:
2011 2012 2013 2014 2015
USA ($B) 188 209 230 250 270
Growth Rate 11% 10% 9% 8%
China ($B) 125 194 265 348 445
Growth Rate 55% 37% 31% 28%
In case you were unaware of the momentum, potential, competitive landscape, and nuances of eCommerce in China, here’s a wonderful infographic.
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China’s Men Lift Luxury Market.
It’s a phenomenon with global economic implications. Men from Mainland China are showing an insatiable appetite for international luxury items. Prestigious French, Italian, British, German and American luxury brands are well positioned. But, given the infancy of brand recognition and awareness, newer, less well-established luxury brands can employ culturally attuned tactics, and leverage HDTS, to steal mind and market share.
You don’t know what you don’t know.
When you enter the China market, you must carefully consider the varied tastes, behaviors, and psychology of Chinese consumers. Many foreign luxury brands are still figuring out the appropriate marketing plan for Mainland China, a major challenge in such a dynamic and still early consumer economy. Countless mistakes have been - and will continue to be - made by companies that ignore the nuances of marketing to Chinese consumers, and stubbornly employ tactics that worked in Western markets.
With a focus on long-term value creation, HDTS leverages it’s platform and relationships with leading market experts on the ground in China to ensure your brand and product offerings are positioned on a fundamentally sound and adaptive framework.
For a free consultation, and to learn more about our bespoke Premium Supplier Program, call us at +1 (917) 675-4018.
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