Trend Watch: What Brands Can Expect From China in 2017
Amidst global market protectionism and an impending Brexit, painful structural reforms in the Chinese economy aimed at cutting industrial overcapacity, more local governments attempting to cool the real estate market, and a growing debt burden, what are the portents for the Chinese marketing landscape for 2017?
First things first: the Chinese economy is slowing down, and will continue to do so - expect 6.5% growth in 2017. Wage bills have risen and will stay on an upward trajectory – all of which can only mean two things: a cutback on marketing budgets, and a demand for greater efficiencies.
While key trends for 2017 are a window into the radical transformation sweeping China's marketing landscape; they also reveal the opportunity that firms must embrace to grow.