Coping with COVID-19 – China Retail

China is the world’s second-largest economy and its second-largest consumer market (13.1% in 2018) having overtaken Japan in 2005, as well as being one of the fastest-growing large markets. International retailers have been placing increased importance on the market with some making China its regional headquarters. Meanwhile...

China is the world’s second-largest economy and its second-largest consumer market (13.1% in 2018) having overtaken Japan in 2005, as well as being one of the fastest-growing large markets. International retailers have been placing increased importance on the market with some making China its regional headquarters. 

Meanwhile, domestic brands are growing in confidence, experience and markets share and have started to expand internationally. These brands, having grown up in China, are incredibly nimble and have a native understanding of the unique challenges and opportunities in China—from innovation speed, distribution and marketing channels (social ecommerce, live streaming, KOLs, etc.).

They are incredibly disruptive and innovative, as well as gaining in scale, number and influence. Gone are the days that China would look to the west for inspiration.