July 14, 2010

Insights into the Chinese Market

 

China has caught the attention of retailers and manufacturers around the world looking for new markets to penetrate. Who can blame them when you consider the size of the Chinese consumer market? A recent USA Today article highlights some compelling facts about the consumer market in China, including:

-Three hundred million more Chinese enter the middle class every five years – a market the size of the United States.

-While estimates vary widely, about 100 Chinese cities have a population of more than 1 million, compared to about 10 cities in the U.S.

-There are more internet users in China than the entire population of the U.S. In fact, China’s online population is forecast to grow to 375 million users in 2012.

This last statistic highlights the business potential of building a presence in China. A Chinese website is a good first step for retailers and manufacturers that consider China important to their future. Retailers should also consider a mobile site since Chinese consumers often make purchases on smartphones and cell phones. The case for a mobile Chinese website becomes even stronger when you consider the number of mobile subscribers in China is expected to swell to 1.15 billion in 2014.

Follow this link to read the entire USA Today article about China.

 

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