Warc Briefing: China's Changing Market
Definition: China will be the world’s third-biggest advertising market by 2012. Judged by strategic importance and growth prospects, it may already be the most important for most brand owners.
- China Mobile, Nokia and Coca-Cola were named the most engaging brands in a 2010 poll of Chinese consumersi.
- Wal-Mart is China’s leading retailer though competition from local operators including CR Vanguard and RT-Mart rose in 2011ii.
- 20% of global luxury goods sales could come from China by 2015iii.
FUTURE OUTLOOK AND TRENDS
For centuries, rural China has held most of the country's population. But by 2015, half of China's population will live in cities. A mere 10 years later, China is expected to have more than 200 cities with populations exceeding 1m – roughly five times the number that Europe has today.