Marketing to the new China consumer
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Marketing to the new China consumer
Consumer % of GDP 36%
71%
The World’s largest consumer market by 2020
300 of the best marketing brains in China share…
• Future goals• Consumer strategies• Barriers to overcome
World to China, China to the World
• Global brands adapt to China
• Chinese brands go global
Some challenges on the way…
WFA & Forbes Insights study
Doing business in the new China
www.forbes.com/forbesinsights
Growth from tier 2, 3, 4 cities
Account for local preferences…
Companies unwilling to change their brands will not succeed in China
Stronly agree, 24%
Disagree, 27%
Strongly disagree
, 6%
Agree, 43%
63% say “We will extend our global brand to the Chinese market, but will change the attributes for China”
Platforms today and tomorrow
How important is mobile marketing to reaching Chinese consumers?
43%61%
36%
43%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Today In 3 years
Veryimportant
Extremelyimportant
Finding and retaining talent
Where do/ will Chinese companies hire their marketing
leaders from
83%
59%
41%
17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Today In 3years
Non-ChineseNationals
ChineseNationals
Reliable market research
37% believe there is not enough reliable research on Chinese consumer demand
Perceptions of market research providers' performance in China?
Poor 10%
Neutral 32%
Excellent 20%
Terrible 1%
Good 38%
Improve accountability
Ethics in advertising
You are not alone
Download the full report here: www.forbes.com/forbesinsights
More about the WFA here: www.wfanet.org