- At the start of China's economic boom, Western companies did well in the country - but circumstances have become more challenging for foreign brands, and at the same time, a number of local companies have grown extremely quickly.
- The local giants tend to be fast on innovation and rollout, quickly meeting new consumer needs as they emerge.
- They also make good use of new social media formats, take risks with a trial and error approach, and formulate products specifically for the Chinese market.
- Local giants also benefit from strong relationships with local retailers - and higher levels...
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