According to the Epoch Times, the gap between the rich and poor in China is widening. In addition, Chinese Premier Wen Jiabao states that the situation is very complex. It looks like there’s a lot of work to do. I hope they fix it soon.
In the meantime, let’s find out where the rich population live and shop so we can offer products and services they like. At the same time, let’s locate the lower to middle class so we can offer them products and services they need. In honor of Expo 2010’s slogan ‘Better City – Better Life’, here’s a glimpse of some geocoded Shanghai income demographics and points of interests (banks and convenience stores). Instead of waiting around for China to fix its government monopolies, let’s work on getting the right products and services in the hands of their target customers no matter rich or poor.
We’d love to know what you think. Leave your comments below. Useful links to resources providing additional insight are especially appreciated. Thanks from Eddie at getchee. =)
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China is going for more than gold at the 2010 Winter Olympics in Vancouver. The Chinese are trying to prove that China is a world dominator financially and physically.
Why should other countries care?
Dignity is certainly not a concern. If you’re in retail or banking, you might want to think about rooting for China instead of your own country.
Why? Because this is what China’s showing in Vancouver represents.
1. People in China have more leisure time to enjoy sports. People have more money to spend on extracurricular activities and their respective products. There’s a growing interest in other cultures.
2. At least 300 million sets of eyeballs protected by 60 billion eyelashes of pride from China are observing every move of their competing countrymen and those of other countries. These Olympians have more power than any billion-dollar stimulus.
3. China is winning the emerging market race. You don’t see any of the other emerging countries like India and Brazil on the medal list.
Go China!
Comments
Whether you agree or disagree, we’dlove to know what you think. Leave your comments below. Useful links to resources providing additional insight are especially appreciated. Thanks, Eddie from getchee. =)
Why is French retail doing so well in China? With 157 operating hypermarkets, an expansion rate of 23 locations a year, and a 95 percent product/merchandise mix of local origin, Lars Olofsson, CEO of Carrefour, said it best. “We’ve added availability of certain products that were previously only found in specific regions or local markets. We’ve also added food safety, food quality, and modernity.”
This is a perfect example of Justin Dowes’s quote in the Next China Trend article. “Because while Chinese skiers want all the positive trapping, they also want something that is theirs – food and cultural elements, but delivered at a much higher level.” Carrefour has hit the nail right on the head when it comes to successfully selling to the Chinese consumer. Basically, give them what they want and what they are looking for, all at a place they trust that delivers good quality, service, and value.
According to Business Insider’s Gus Lubin and Joe Weisenthal, as the middle class emerges and people have stable jobs, credit cards offer a quick shortcut to a nice jump in standard of living. As Carrefour strives to make life easier and better for the Chinese, be on the lookout for a correlation in profit spikes between the French retailer and banks (local and foreign).
Comments
Whether you agree or disagree, we’dlove to know what you think. Leave your comments below. Useful links to resources providing additional insight are especially appreciated. Thanks, Eddie from getchee. =)
Both emerging and both have a population of over 1 billion people each. So what’s the difference between the two economic giants?
1. Infrastructure
China’s got it. India needs to get it together.
2. Class
China’s already got 300 million in the middle class. India’s got only 50 million. However, India is a country that is turning “one billion people into one billion consumers,” says Manvinder Banga, the president of Unilever’s global food and personal care division. Whichever strengthens its middle class faster is what will matter the most.
3. Bullseye
China’s got a bigger target on its chest. The news about China isn’t always positive, but any news is better than no news. Self-marketing and building better international connections will generate more economic dollars.
Two Questions
1. What major differences do you think separate China and India?
2. If you were a food retailer, FMCGer, auto company, or bank, where would you invest? Why?
Whether you agree or disagree, we’d love to know what you think. Leave your opinion, thoughts, and/or comments below. Useful links to resources providing additional insight are especially appreciated. Thanks. =)
According to the Epoch Times, the gap between the rich and poor in China is widening. In addition, Chinese Premier Wen Jiabao states that the situation is very complex. It looks like there’s a lot of work to do. I hope they fix it soon.
