According to the data of Tmall Global, the turnover of more than 1000 overseas brands increased by more than 100% year on year. Import consumption is still booming, and overseas businesses continue to gain growth on the this year’s Double 11 shopping festival.
During the Double 11 Festival, the sales of land surfboards increased by more than 3000% year on year, the sales of imported vinyl recorders increased by more than 530% year on year, the growth of imported riding accessories and equipment exceeded 400% year on year, the growth of Luya fishing equipment was nearly 200% year on year, and the growth of American football related equipment was nearly 150%.
At the same time, the rise of a large number of new Chinese consumer brands and the revival of classic brands are constantly squeezing the market space for imported brands on an overall perspective.
The research on Kaidu Consumer Index shows that, the trend of the past three years, the market share of Chinese brands is gradually expanding, while the sales share of imported brands continues to decline, no matter in the overall market, packaged food and beverage, or non-food categories. When you go outside the box of considering only competing within the imported product market, the situation is not the same.
The reason why Chinese brands are gaining the upper hand is that the new generation of Chinese consumers have different values and tastes comparing to older generations. The improvement of consumers' local brand awareness and national cultural confidence further stimulated the rise of China-Chic.
In some categories dominated by imported brands in the past, domestic brands have broken through the tight encirclement and won the favor of more and more Chinese consumers. However, the consumption demand of imported brands still exists. In the high potential Chinese market, opportunities and challenges coexist.
How can imported brands break the situation?
High-tech Interprets the Concept of Health and Environmental Friendly
Chinese consumers are paying more attention to health related topics. Snack based health care products and "plant based" products, which have recently become a new favorite of consumers, are imperative for some imported brands that have long had a foundation to seize the new trend of health care. More and more international brands focusing on "health" and "sustainability" have resonated and won a place in the Chinese market.
In China, Beyond Meat joined hands with Hema, Sam’s Club, and Metro to successfully enter the Chinese market, and quickly enclosed the land through cooperation with Starbucks, KFC and other stores to write plant meals into the menu, opening a new link for domestic plant meat brands to refer to.
Localized Marketing Helps
Effective localization communication and social e-commerce strategies cannot be ignored. Whenever the Chinese New Year approaches, international beauty brands have launched various creative New Year exclusive items to promote brand communication.
Lancome, an imported beauty brand specializing in China's localization marketing, cooperated with famous movie star Zhou Dongyu to release the 2021 New Year's Chinese blockbusters during the Spring Festival, and during the promotion of e-commerce such as the Double 11th Festival, it improved the social popularity of its products by means of celebrities bringing goods, beauty bloggers planting grass, product live broadcast, etc., leading e-commerce platforms to achieve accurate transformation.
Channel Cultivating and Expanding Local Brand Layout
In terms of channels, strengthening supply chain cooperation and expanding sales channels and coverage can create greater possibilities for imported brands to deepen their local market layout.
Taking Jiapei, a leading brand in the kiwi market, which has been deeply involved in the Chinese market for more than 20 years, as an example, Jiapei has reached a supply chain cooperation with JD Fresh, opened up the omni channel retail format, and explored a new mode of fresh e-commerce.
In addition, Jiapei also established a direct supply chain with Baiguoyuan to achieve a high degree of cooperation from upstream planting to terminal retail and upgrade the consumer shopping experience. The perfect distribution network and new retail integration of Baiguoyuan further help Jiapei take root in the Chinese market and achieve rapid growth.
Under the rising tide of China-Chic, Chinese consumers have a higher demand for any high-quality products that meet a better life. Therefore, imported goods still have broad development space in China. China's fast moving consumer goods market needs to constantly inject global economic vitality and industrial innovation capabilities, so as to achieve innovative growth and sustainable development in the future.
During the Double 11 Festival, the sales of land surfboards increased by more than 3000% year on year, the sales of imported vinyl recorders increased by more than 530% year on year, the growth of imported riding accessories and equipment exceeded 400% year on year, the growth of Luya fishing equipment was nearly 200% year on year, and the growth of American football related equipment was nearly 150%.
At the same time, the rise of a large number of new Chinese consumer brands and the revival of classic brands are constantly squeezing the market space for imported brands on an overall perspective.
The research on Kaidu Consumer Index shows that, the trend of the past three years, the market share of Chinese brands is gradually expanding, while the sales share of imported brands continues to decline, no matter in the overall market, packaged food and beverage, or non-food categories. When you go outside the box of considering only competing within the imported product market, the situation is not the same.
The reason why Chinese brands are gaining the upper hand is that the new generation of Chinese consumers have different values and tastes comparing to older generations. The improvement of consumers' local brand awareness and national cultural confidence further stimulated the rise of China-Chic.
In some categories dominated by imported brands in the past, domestic brands have broken through the tight encirclement and won the favor of more and more Chinese consumers. However, the consumption demand of imported brands still exists. In the high potential Chinese market, opportunities and challenges coexist.
How can imported brands break the situation?
High-tech Interprets the Concept of Health and Environmental Friendly
Chinese consumers are paying more attention to health related topics. Snack based health care products and "plant based" products, which have recently become a new favorite of consumers, are imperative for some imported brands that have long had a foundation to seize the new trend of health care. More and more international brands focusing on "health" and "sustainability" have resonated and won a place in the Chinese market.
In China, Beyond Meat joined hands with Hema, Sam’s Club, and Metro to successfully enter the Chinese market, and quickly enclosed the land through cooperation with Starbucks, KFC and other stores to write plant meals into the menu, opening a new link for domestic plant meat brands to refer to.
Localized Marketing Helps
Effective localization communication and social e-commerce strategies cannot be ignored. Whenever the Chinese New Year approaches, international beauty brands have launched various creative New Year exclusive items to promote brand communication.
Lancome, an imported beauty brand specializing in China's localization marketing, cooperated with famous movie star Zhou Dongyu to release the 2021 New Year's Chinese blockbusters during the Spring Festival, and during the promotion of e-commerce such as the Double 11th Festival, it improved the social popularity of its products by means of celebrities bringing goods, beauty bloggers planting grass, product live broadcast, etc., leading e-commerce platforms to achieve accurate transformation.
Channel Cultivating and Expanding Local Brand Layout
In terms of channels, strengthening supply chain cooperation and expanding sales channels and coverage can create greater possibilities for imported brands to deepen their local market layout.
Taking Jiapei, a leading brand in the kiwi market, which has been deeply involved in the Chinese market for more than 20 years, as an example, Jiapei has reached a supply chain cooperation with JD Fresh, opened up the omni channel retail format, and explored a new mode of fresh e-commerce.
In addition, Jiapei also established a direct supply chain with Baiguoyuan to achieve a high degree of cooperation from upstream planting to terminal retail and upgrade the consumer shopping experience. The perfect distribution network and new retail integration of Baiguoyuan further help Jiapei take root in the Chinese market and achieve rapid growth.
Under the rising tide of China-Chic, Chinese consumers have a higher demand for any high-quality products that meet a better life. Therefore, imported goods still have broad development space in China. China's fast moving consumer goods market needs to constantly inject global economic vitality and industrial innovation capabilities, so as to achieve innovative growth and sustainable development in the future.
