China’s urban dwellers a potent draw for Irish firms seeking markets
British lobby group CBBC has lessons for Irish companies
An employee adjusts a price tag at a supermarket in Anhui province, China. China is on a relentless drive towards a consumption-led economy, sparked largely by the trends of middle-income consumers
China has 725 million urban dwellers whose household consumption will triple in the 10 years up to 2022, a tantalising figure to conjure with, from the China-Britain Business Council’s (CBBC) report published recently.
The report, “China’s Middle Income Consumers”, was compiled through doing interviews in the CBBC’s network of 13 offices in China, and among the British brands that took part were Burberry, the University of Nottingham, Mintel, Savills and B&Q.
As we know, China is on a relentless drive towards a consumption-led economy, sparked largely by the trends of middle-income consumers, with new habits, fresh attitudes and eclectic lifestyles.
The council has been a very successful lobby group in China, and it publishes a regular list of Chinese companies looking for goods from the UK, and Asia Briefing can pass on contact details to anyone who is interested.
“This report takes many of the commonly known perceptions of Chinese consumers, looks beyond the headlines, and offers practical advice on next steps to succeed in China. It is essential reading for companies in the fashion, retail, automotive, real estate, tourism, education and healthcare sectors,” said Stephen Phillips, chief executive of council.