China is a fast-growing country and its dynamism has been attracted a lot of entrepreneurs and companies all over the world for years. Almost every fortune 500 company is well established in China, from Microsoft, Apple and google (even google’s search engine can’t be use 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.
At this stage of development, China has a lot of booming industries. If you are seeking for 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, all the clothes and accessories from street fashion are 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 never gone mainstream in China, these singers have been all well-known in China.
Chinese millennials who have massive purchasing power, are showing strong interest on street culture. Whether its because of trend or because it is a way to express their individuality, they became the main consumers of streetwear market in China, willing to spend a lot of money inside. The information 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 not enough to just be skinny, the focus in on muscle girls with 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 the 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 the $357 billion of 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 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 on 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.
English or foreign language school
The main concern of Chinese parents is the future of their child. Education is an important part of the Chinese society. Chinese parents are ready to invest times and energy in their kids education, searching for cram school, especially English cram school. They want their child to have an added value which 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 to target millions of Chinese!
An agency to help your business development
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 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 brand, and even more when it is a new brand.
The digitalization of China changed the consumer’s behaviors and this should be considered by entrepreneurs who want to start business here.
You have a project to develop in China ? Do not hesitate to contact us Gentlemen Marketing Agency is specialized in the 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 !