Western interest in China’s marketplace continues to be strong. With 1.4 billion residents and the world’s biggest online population, China draws global businesses which are eager to promote their brands, products, and services to the country’s consumers.
The interest is also reciprocated by China. High-profile purchases of Western companies by leading Chinese brands are moving the formerly state-controlled economy to private hands. For example, Yang Yuanqing, the force behind computer manufacturing leader Lenovo, reported in January on more than $5 billion in Western acquisitions. (“Lenovo Heeds Jiang’s ‘Go Out’ Call in Second China M&A Wave,” Bloomberg, 26 March 2014)
For this month’s Translation Curation edition, we focus on three reports on how Western brands are tailoring their marketing strategies to compete for Chinese consumers.
By 2030, China will account for 20% of global spending
Colin Currie, the managing director of Adidas Greater China, spoke with marketing professionals at the AANA/WFA Global Marketer Conference in Sydney, Australia this week on the marketing approaches demanded by China’s starkly disparate urban and rural markets.
According to Currie, Adidas has undertaken a far more aggressive marketing campaign in urban China to win buyers away from Nike, the country’s marketing leader in the sportswear industry. Rural buyers, in contrast, are targeted far more simply with opening stores in their regions. Read more at “One country, two worlds: MD of Adidas China on the opportunities and challenges,” Marketing, 28 March 2014.
From 2010 to 2013, China’s e-commerce market has grown 89%
The Produce Marketing Association invited Loren Zhao, co-founder of Fruitday.com, China’s largest fresh fruit shopping site, to speak with its members at its Fresh Connections conference in Shanghai. Zhao credits social media as a strongly transforming factor in the growth of the food industry in China, going so far as to encourage attendees to invest into marketing on WeChat, the dominant WhatsApp-like instant messaging platform in Asia. – “PMA Fresh Connections China: the future of e-commerce,” Fresh Fruit Portal, 26 March 2014
Online advertising revenues in China for 2013 reached $10.3 billion
Interactive Advertising Bureau has announced the launch of IAB China, to further extend its support of media and marketing industries in the country. As an article on the venture hinted, “Made in China” has been burdened with a negative connotation for U.S. consumers. This is due, in part, to the loss of U.S. manufacturing and textile jobs to Asia, a lingering reputation for poor quality goods, and highly publicized labor failures.
Nevertheless, as the lines between U.S. and Chinese markets become increasingly thinner, more U.S.-generated traffic is being logged on Chinese sites and U.S. businesses are increasing their investment in online advertising there. – “A Great Wall Is Coming Down Between Chinese and U.S. Brands,” IAB Blog, 21 March
Are you aware of notable brand marketing efforts being undertaken for the Chinese market? Share them in the comments!