Business
Rising Against the Tide: How Five International Brands are Achieving Growth Amid China’s Slowing Consumption
Clarification | The strategies behind 5 global companies succeeding in China despite thrifty consumers
Arc’teryx, Adidas, Ralph Lauren, Sam’s Club, and Yum China are all witnessing an increase in their sales in China, though the reasons vary.
The performance of numerous international consumer brands has been impacted by reduced spending in China and intense rivalry from local competitors. However, a handful of brands such as Lululemon, Adidas, and Ralph Lauren, have successfully surpassed their counterparts, recording substantial revenue increases in the past few months.
One crucial element propelling their achievement could be the increasing division in customer tastes. Thrifty buyers are on the hunt for better bargains, whereas affluent shoppers persist in indulging themselves in high-end goods for the unique experience and to feel a sense of self-worth.
This separation has assisted both high-end labels and those providing economical choices in achieving strong results in the Chinese market.
There has been a noticeable divide in expenditure within the food, beverage, and retail sectors. Companies that implement localized strategies and cater to the tastes of Chinese customers are notably performing better than their competitors.
Here are several remarkable instances of brands that are defying the nation's slow consumer expenditure – and the strategies they're using to achieve this.
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