China will still be a growing economy in 2023 and its dynamism has been attracted a lot of entrepreneurs and companies all over the world for years.
China is here. China is BACK in 2023
feedback from Alberto Antinucci . Beaten up by the pandemic, with a lot of fear, but with enormous courage, I see the Chinese facing fast and constant growth.
And if anything I learned in my 30+ years of business in China is true, we will see the dragon roaring again very soon.
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- Chinese are resilient. In Italy, we say “When a pope dies, we elect a new one”. In China, we could say “When a business dies, the Chinese start a new one”. Immediately I would add.
- A closed shop does not mean a closed business.
As a matter of fact, if the lockdown has taught us anything, it is that we can still run the business online. And China is ahead of its time for online business.
- Hong Kong is old. After claiming for many years how advanced HK was in everything, I realized with this trip how the city didn’t evolve in the last 10 years compared to China. Don’t get me wrong, HK is still a great and vibrant place to visit and do business, but it’s not clean, silent, and dynamic as China is today.
- EV rules: I have counted at least 10 different new brands of Electric Vehicles running on the streets of Shanghai, Shenzhen, and Hangzhou. These are incredible devices on wheels. Amazing!
- Food always reign. The food industry in China is never saturated. It goes on and on relentlessly 24/7.
Simply love it.
- China is clean. Oh yes, I found the cities I visited, the means of transportation, the hotels, restaurants, and all places to be much cleaner than they used to be. I am so happy about it since before I always had to explain how China had a different concept of hygiene. Now no more.
- Expats communitu. I found back the expats community to be stronger than before. During the pandemic, there was strong support from one other to help not only with primary needs but also with human connections. Fantastic.
With regard to business, in China
Today I want to thank every and each person I met. You are many and you know who you are.
It was a great honor to meet you, speak to you, get to know you better, watch a movie with you, dine with you, and plan incredible projects with you.
Almost every fortune 500 company is well established in China, from Microsoft, Apple, and Google (even google’s search engine can’t be used directly in China) to Nokia, HP. With a population of over one billion, and the increase of its middle-class, ready to spend, China shows rosy prospects to all businesses.
5 markets that is still great in China
At this stage of development, China has a lot of booming industries. If you are seeking some ideas, I hope this article will inspire you. If you have already some ideas, click here to know more about business development.
Streetwear market in China : “Be real”
While they were originally designed to be worn in sports halls, today, athlete or not, everyone wears sneakers! They are worn at the feet of fashionistas on the sidewalks of all the trendiest cities. Not only sneakers but all the clothes and accessories from street fashion are also very popular among young Chinese. the web show “Rap of China” contributed a lot to this trend. The show invited four famous celebrities as producers: Kris Wu (Chinese star, model, and singer) who is followed by numerous people, Will Pan, Mr. Hot Dog, and Chang Csun Yuk. Even if rap went mainstream in China, these singers have been all well-known in China.
Chinese millennials who have massive purchasing power, are showing strong interest in street culture. Whether it’s because of trends or because it is a way to express their individuality, they became the main consumers of the streetwear market in China, willing to spend a lot of money inside. The information was given by “the rap of China” is “be real” and “feel free”.
Besides celebrities, fashion leaders and KOL (key opinion leaders) are also influencing the Chinese consumer’s taste.
Sport market in China : healthy mind in a healthy body
Chinese people, especially Chinese girls are known to be thin. But nowadays, it is not enough to just be skinny, the focus is on muscle girls with a nice shape. We can feel this trend with more and more fitness centers opening in China. There is still a lot of things to ameliorate. Anyway, investments in individual equipment and fitness center’s membership cards are breaking records, since the slogan in China seems to be “A healthy mind in a healthy body”. Sport and the results that follow raised up some Chinese core values: perseverance, courage, and strength to get what you want.
This trend touched a lot of people and is also spreading over the Chinese network. People want to show their pleasant way of life, even if sometimes it is just about a post sharing new gym clothes. It’s also a way to get recognition from society.
The second point to note is the trend to sportswear clothing style. This is due to the opening of mind towards cultures to the West, this stylish Streetwear spirit from the US attracts young people.
Health care market : the rise of health-conscious
As the average revenue is growing in China and the environment is evolving, people have been started to care about their health. 30% of the total search on Baidu is linked to health… Chinese people are chasing after health supplements for their elderly, for their parents, or for themselves to support their efficiency during their work. Also, China’s health care sector continues to develop at an incredible rate: spending is projected to grow from $357 billion in 2011 to $1 trillion in 2020.
However, there is a big problem of trust in China, many local Chinese healthcare companies have cheated Chinese consumers, often with disastrous effects. Your reputation online and the word of mouth about your product are very important as Chinese people don’t trust brands a lot. They prefer to see for information on the internet.
Skincare market : focus on appearance
In China alone, there are already tons of small-scale businesses cosmetics, not to mention those that are specialized for the health and beauty of women alone. To undertake a skincare business is a good choice for prospective businessmen as people care a lot about their appearance in China.
The matter is to market your business. The competition in this market is quite high in China, and the Chinese will not use your product if it wasn’t presented or introduced by someone before.
Education , invest in your Future
The main concern of Chinese parents is the future of their children. Education is an important part of Chinese society. Chinese parents are ready to invest time and energy in their kid’s education, searching for cram schools, especially English cram schools. They want their child to have an added value that may help him or her in the future. They have to be ready for the job, in a society which will become more and more open to the world.
So this is a very promising and vibrant market in China that will only grow bigger in the years to come. Opportunities will be numerous and allow us to target millions of Chinese!
An agency to help your business development in 2023?
At this stage of development, China has a lot of booming industries. Now you know some of them, but also some of the difficulties to enter in these markets.
In China, where people are doing almost all with the internet, you have to ensure an online presence to cut through the Chinese market. As we said before, Chinese people rely on other users, more than brands, and even more when it is a new brand.
Digitalization of business in China
The digitalization of China changed the consumer’s behaviors and this should be considered by entrepreneurs who want to start a business here.
Do you have a project to develop in China?
Do not hesitate to contact us Gentlemen Marketing Agency is specialized in digital marketing in the Chinese market. We provide e-commerce solutions, promotion and advertising, SEO strategies, and all marketing agencies worthy of the name should be able to do. Let your project come true!