CEOs in China: 3 Recommendations that Deliver Value, Drive Business, and Create Speed

Introduction

As a CEO in China, keeping up with the latest consumer trends has a great impact on the profitability of your businesses. With a degree of Master in Integrated Marketing Communications from Northwestern University, I have been chasing after the latest consumer insights that can be super powerful for your businesses in China.

Two Articles

In the report China Consumer Market February 2019 published by Virginia Economic Development Partnership, great insights are provided to better understand, gain confidence, and ultimately penetrate the Chinese consumer market, which includes a great number of interesting trends of consumers and markets, some key consumer product sectors, and general trade regulations of China.

(Source: https://www.flickr.com/photos/26087974@N05/11423157513)

In the article A Big Shift In China: Consumers Are Trading Down, Author Says written by Russell Flannery, a senior editor at Forbes magazine, the author has shared about what his take on China's economy is and what this means for the CEOs in China.

Action Recommendations

1. Consumers seek value – Chinese consumers currently look for value in products more than ever before.

2. Millennials drive business - Millennials will contribute 20% of the total consumption growth of China until 2030, more than any other generation.

3. Apps create speed - Mobile phone apps have become a major channel to reach consumers. Apps permit quicker transactions than in traditional channels.

Ending

Although Chinese consumers' confidence is increasing, CEOs must keep up with the latest trends in the markets. CEOs in China need to clearly know who their high-value customers are, what these customers want, and how to reach these customers.

About the Author

David Chen is an experienced Co-Founder with a demonstrated history of working in the marketing industry. 0 customer to over 800 customers in 4 years. A strong business development professional with a Master's degree in Integrated Marketing Communications from Northwestern University specialized in Insights and Analytics. Come and follow me on LinkedIn and Twitter!