marketing to the new china consumer

Marketing to the new China consumer

Consumer % of GDP 36%

71%

The World’s largest consumer market by 2020

300 of the best marketing brains in China share…

• Future goals• Consumer strategies• Barriers to overcome

World to China, China to the World

• Global brands adapt to China

• Chinese brands go global

Some challenges on the way…

WFA & Forbes Insights study

Doing business in the new China

www.forbes.com/forbesinsights

Growth from tier 2, 3, 4 cities

Account for local preferences…

Companies unwilling to change their brands will not succeed in China

Stronly agree, 24%

Disagree, 27%

Strongly disagree

, 6%

Agree, 43%

63% say “We will extend our global brand to the Chinese market, but will change the attributes for China”

Platforms today and tomorrow

How important is mobile marketing to reaching Chinese consumers?

43%61%

36%

43%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Today In 3 years

Veryimportant

Extremelyimportant

Finding and retaining talent

Where do/ will Chinese companies hire their marketing

leaders from

83%

59%

41%

17%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Today In 3years

Non-ChineseNationals

ChineseNationals

Reliable market research

37% believe there is not enough reliable research on Chinese consumer demand

Perceptions of market research providers' performance in China?

Poor 10%

Neutral 32%

Excellent 20%

Terrible 1%

Good 38%

Improve accountability

Ethics in advertising

You are not alone

Download the full report here: www.forbes.com/forbesinsights

More about the WFA here: www.wfanet.org