China presents a huge growth opportunity for international brands, but while some have thrived, many have failed to gain a foothold in the market. This paper provides insight into consumers’ behaviour and attitudes and successful brand strategies that will give valuable guidance to any business that wants to enter the market.
China is a crucial market for international brands. The world’s second-largest economy, currently growing its GDP at just under 7% year on year, it represents a major opportunity for growth. The standard of living for Chinese consumers has doubled every seven years from 1974 to 2011 and even if current rates of economic growth are down on previous decades, they still put many European and US markets in the shade.