Hypes are a part of China’s competitive climate, and with the hypes VC capital floods industries, like bike-sharing and food deliveries. And that might be nice for a while, warns Shanghai-based VC veteran William Bao Bean, it does not mean the best ideas get funded, he tells the Globe&Mail.
Category Archives: consumers
Competition in China is rough and bloody for almost every company that even has the smell of possible success. But Beida business professor Jeffrey Towson did not yet find a reason why this rule does not apply to Starbucks. No competitor gets near the giant and – he wonders at his weblog – there is no real reason for that.
The recent attacks in Manchester and especially London do not seem to have a huge impact on the stream of Chinese tourists, who still put Europe and especially the UK on the top of their destinations. But tourists from China are very security conscience, says business analyst Shaun Rein, who does expect a short-term decline, he tells the South China Morning Post.
China’s consumers have always been very suspicious of any top-down broadcasting, says marketing guru Tom Doctoroff. Anything that looks like spoon-fed propaganda does not work. Advertising can work, but it is a trick country, and easy to get it wrong, he says.
Luxury outbound travel by Chinese tourists keeps on booming, with Europe and SE-Asia as their favorite destinations, says the latest report by the Hurun or China Rich List, tells its chief researcher Rupert Hoogewerf to the Shanghai Daily.
Japan’s discount-furniture king, Akio Nitori, dubbed the country’s IKEA, now wants to export its success into the region’s largest market: China. Business analyst Shaun Rein doubts whether their Japan success can be copied into China, he tells Bloomberg.
Chinese belong to the smartest shoppers of this planet, says branding guru Tom Doctoroff. They do not mind to pay a premium, as long as there is a good value proposition. “They seek both reassurance and inspiration” from brands, he says. And if a brand like Apple does not offer a new phone this year, they will just wait, hurting Apple in its revenue.
Attitudes towards the usage of condoms are changing fast in China, says business analyst Shaun Rein to CNBC. While condoms have always been available, their quality was often doubtful. That opens opportunities for high-end condoms with a good – read: international – reputation.
Entertainment parks are becoming big business in China, but there are at least three players trying to come the Disney of China, including Disney itself. Who will be the real Disney of China, wonders Beida business professor Jeffrey Towson on his weblog.
Chinese brands might be improving, but they can still not offer a price premium, says marketing guru Tom Doctoroff and author of What Chinese Want: Culture, Communism, and China’s Modern Consumer at Campaign Asia. They are lacking long-term concepts and are mostly sales-driven, he adds.