Before launching an export venture, it is crucial to conduct market research and build a smart marketing strategy. It is estimated that 50% of all foreign brands that fail in China don’t adapt their business model to the local market. That is why it is imperative for international brands to partner with a local company that specializes in Chinese business. This way, they can work with a professional and long-term strategy.
The Chinese market is large, and it is becoming more attractive to foreign businesses. In the past, exports to China were mostly manufacturing items. But these days, exports from China are considered a major force in the country’s growth. In fact, the Chinese economy is estimated to grow at a rate of 6% to 8% this year.
Before exporting to China, foreign companies must comply with local laws and regulations. This can be a complicated task, and failing to meet these regulations can lead to an instant ban. Food importers must also deal with a complex regulatory system to ensure the safety and quality of their products. For example, in China, food products must be certified by the National Health and Family Planning Commission (GACC). If a product has been declared hazardous, it will instantly be banned from export to China.
China is one of the fastest-growing markets in the world. The country has the largest Internet population in the world, and many people are using online platforms to purchase goods. Currently, 44% of all retail sales in the world are e-commerce. E-commerce in China is growing exponentially.
Pricing is another important factor when exporting. Proper pricing must consider costs, market demand, and competition. The company should also consider the return on investment for each dollar spent. It is essential to ensure that the prices are competitive and that they attract a target audience. Finally, the marketing materials should contain contact details for potential customers.