With a population of 1.3 billion whose per capita income is expected to double over the next 10 years, and a consumer market that is expected to grow to $14 trillion by the year 2025, it’s no wonder foreign companies are investing billions to reach today’s Chinese consumer. Research reveals a growing demographic of generally younger, affluent, urban Chinese consumers who are willing to consider foreign brands.
The opportunity seems simple enough. But, foreign companies, beware: Chinese consumers aren’t as heavily influenced by traditional marketing channels and messages as consumers are elsewhere. While some multinational companies successfully reach the elusive Chinese consumer, others come up short because they fail to adapt their marketing approaches to incorporate factors that influence Chinese buying habits.