China is the world’s fastest growing consumer market and remains a key market for international retailers looking to capitalize on the demand for foreign goods. How are Chinese brands faring?
According to the BBC, new research suggests that young Chinese are turning to Chinese brands.
One man interviewed said, “If they are the same quality, I prefer Chinese goods.” He added, “If customer service is good, and the price is right, I’d prefer to spend a couple of hundreds less.”
Another person interviewed said, “I think Chinese brands are better, as foreign brands are actually made in China anyway. So I prefer Chinese brands.”
Chinese consumers are becoming more sophisticated, and logos and brand names no longer have the same cachet as before. Consumers are looking for quality, excellent customer service, and a good value, and some Chinese brands are beginning to deliver.
As one man told the BBC, Chinese brands “are not viewed as they used to be.”
image source: flickr/christopher cozier