vendredi 18 août 2023

Vietnam's burgeoning cosmetics industry

Welcome to our Blog Market Study in China and today we are going to talk about Vietnam 


 Vietnam's burgeoning cosmetics industry is more than just about beauty; it's about economic growth, evolving lifestyles, and the influence of foreign trends. Here's a closer look:


📈 With rising living standards, Vietnam's appetite for beauty and personal care products is insatiable, making it a magnet for international brands. Especially from places like Korea, Europe, and Japan.



📊 Market Highlights:


Steady growth in revenue across all cosmetic categories since 2019.

A notable increase in the middle-class sector, with an average spend of VND 450,000 to VND 500,000 (US$19 to US$21) on beauty products monthly.

Social media's role in propelling this growth can't be overlooked, with the "Korean wave" playing a pivotal role.

🌐 Global Connections:


Around 93% of personal care products are imported, with Korea leading the pack at 30%.

Despite the dominance of international brands, domestic brands are carving their niche by emphasizing affordability.

🛍 Distribution Channels:


Retail chains such as Watsons, Guardian, and Pharmacity have made beauty products even more accessible.

Global brands like Pond’s, Nivea, and L’Oreal see the immense potential in Vietnam's market and have established a solid presence.

💡 Opportunities and Challenges:


As consumers become more health-conscious, there’s a massive opportunity for organic and herbal products. Brands using native ingredients like coconut, turmeric, and aloe vera have a unique selling proposition.

However, the young market is sensitive to trends and prices, with Korean celebrity endorsements influencing purchase decisions.

🌐 Digital Shift:

Read more https://gma-asia.com/an-overview-of-the-vietnam-beauty-market/

The digital age has transformed customer behaviors and expectations. Successful beauty businesses are those that embrace technology, understand their digital clientele, and offer seamless online experiences.

mercredi 7 décembre 2022

China Cruise Business Continues To Grow



China has provided additional information regarding its domestic cruise industry development plans. Initial designs for a smaller, luxurious cruise ship were presented by CSSC (China State Shipbuilding Corporation). A banking syndicate helps China grow its international cruise business.





Carnival Corporation and Shipbuilder CSSC have created a joint venture to create a new brand. Today, they announced that Adora Cruises would be the name of their new brand when it begins in 2023. This is part China's strong push towards expanding its domestic capabilities. Fincantieri has also been a partner of the CSSC, which is guiding the construction of China's first major domestic cruise ship.

Although many ships have not returned from China since the outbreaks, they are making efforts to do so. China's largest cruise vessels are waiting for an exemption from the zero COVID policy. They will not be able to sail until then, which has stopped all foreign cruise operators from restarting their operations.

The first mega-cruise vessel is being built quickly, and CSSC expects delivery by the end of this year. The corporate design used by Carnival Cruise Lines and Costa Cruises was modified for this vessel. There will be 2125 staterooms aboard, giving the ship a length of 1,060 feet and a gross weight of 135,000 tonnes.

Chinese officials have also changed the plan to build a second larger cruise ship. Since the start of the year, the ship has been in construction. It will weigh 142,000 gross tons. It will measure 1,119 feet long and have 2,144 staterooms.

The company also offers short and long cruises to domestic and international destinations. It said that it will also establish a boutique long-term route along the "Maritime Silk Road." But, more details about the cruises are yet to be revealed. The destinations on this trip include countries which are crucial to China's "Belt and Road” initiative.

Adora, proud of its Chinese heritage, says it will combine a global view with domestic expertise to craft a cruise itinerary that caters to Chinese tourists. According to Adora, the company will "address different demands of different customers" by offering a "better onboard experience and exclusive shore trip items."

In detail, plans were also drawn up for expansion of the cruise business by CSSC. The first Chinese-developed cruise ship design was approved in December 2021 by an international classification agency. It was for a vessel larger than 150,000 gross tons. CSSC Cruise Technology Development Co. (a wholly-owned subsidiary China State Shipbuilding Corporation) has today revealed a new design of a cruise ship that can carry 80,000 tonnes.

CSSC considers this new design a luxury cruise vessel measuring 963 feet in length. CSSC believes that the design's high ratio of passenger space and passenger-crew, as well as its public area per passenger, significantly increase passenger comfort. Techniques such as improving the wind field, hydrodynamic performance and installation of energy-saving equipment are used to reduce resistance and improve energy efficiency. This type of ship will have a balcony room ratio exceeding 69%. China Classification Society has approved the design (AiP).
source 

The Bank of China and Industrial and Commercial Bank of China as well as China Construction Bank and China Bank of Communications and other financial institutions signed a memorandum of collaboration with CSSC Finance Co. and CSSC Carnival Cruise Co. in order to finance the Chinese cruise industry's expansion. Details reveal that $1.4 billion worth of loans will be pooled in order to finance the construction of two huge Chinese cruise ships and expand the country’s cruise fleet. This is the first syndicated credit long-term for cruise financing in China.


lundi 26 septembre 2022

Social Media fake news in China

 Social media is awith claims of a coup in China, but the credibility of these claims is doubtful, claim experts. Speculations that Chinese President Xi Jinping had lost control ran wild on the internet after he was found missing from the public eye following his return from SCO summit in Uzbekistan.


With no official confirmation from the Chinese Communist Party or the state media and with all these updates from anonymous users, who are neither verified nor credible, experts are confident these rumours are just rumours and false speculations.


So, here’s what we know so far:


Is Xi Jinping under house arrest?


The last time the Chinese President was seen publicly was at the Shanghai Cooperation Organisation (SCO) summit in Uzbekistan’s Samarkand. The summit was also attended by Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.


There's a strong possibility the Chinese premier could be in quarantine following the country's strict 'Zero Covid Policy’. Under the policy, every individual who enters China from abroad must undergo quarantine.


Most Popular Social Media Platforms in China

  1. Wechat
  2. Sina Weibo
  3. Douyin (Tiktok)
  4. Little Red Book (XiaoHongShu)
  5. Kuaishou 
  6. QQ
  7. Douban
  8. Youku
  9. Bilibili
  10. Baidu Tieba
  11. Zhihu
  12. Toutiao
  13. Meituan Dianping

samedi 6 août 2022

China's Fast Fashion Business Model

 This business model is very popular in China where fashion consumers are constantly looking for new trends and are willingly to pay for them. The country is home to a large middle class with more disposable income.



Chinese consumers are also becoming more aware of global fashion trends, and they are eager to adopt them. This trend has been capitalized by fast fashion brands that offer trendy, affordable clothes that appeal to local tastes.


China's fast fashion industry is expected to grow in the next few years. Green collections and sustainable brands are flourishing. This is a huge opportunity for foreign brands looking to enter China's market. Brands can be successful in this industry by understanding local trends and needs.

Fast fashion in China

Fast fashion refers to clothing that is quickly created and placed on the market in response to current trends. Fashion brands that produce fast fashion take their inspiration from celebrity designs and mass-produce them quickly so they are available almost immediately. read more



Zara

Zara, a fast-fashion brand, changes 15% of its inventory every week. Every salesperson reviews 12,000 references in real time to give key insights to the designers. There is 72 hours between the initial sketch and the prototype . This has resulted in a rising demand for fast fashion products, especially among the younger Chinese Gen Z shoppers who want stylish, affordable pieces as well as celebrities with the same style. Via


China is the largest market for fast fashion in the world, with Chinese buyers spending an estimated 6.9 billion on footwear and clothing in the 2019 report. This is due to a growing middle class that has more disposable income and a younger generation who is fashion conscious and willing to spend on trends.

jeudi 9 juin 2022

Doing business with China is an art

 When I told my friends about my project, they all said 'Harold forget it, you don't speak Mandarin, you've never lived in China and you don't know a single Chinese person'" recalls Harold Parisot, founder of the Chinese Business Club, the first Franco-Chinese business network. Nearly ten years after the launch of his club, the bet to increase business relations and business with China has been successful.

Doing business with China is an art

The Chinese market is the one that offers the most opportunities to France and that Harold Parisot has understood this well. In September 2012, under the impetus of some of his Chinese clients, he embarked on the adventure of the Chinese Business Club. “In 2012, when I became self-employed, I was in contact with foreign investors. And systematically when I met Chinese people, they wanted to meet French politicians and brands. Systematically, it was the same questions. So I said to myself that I was going to create a small business and France-China meeting club,” explains the French entrepreneur.


Harold Parisot has therefore built for ten years a meeting place where business and Franco-Chinese network are the key words. For Harold Parisot, China is a market of the future that must be encouraged and not neglected. It is the colossal manna of consumers offered by China, which makes it the preferred target for French companies. 1.4 billion potential customers that France can reach in three ways. First, “via tourism in France, currently 3 million Chinese tourists choose France but in the short term, they will be 6 to 9 million”.


China, a market of the future for France

Second and third, “via the Chinese in Mainland China which can be reached in two ways. Either via e-commerce or via a physical presence. A physical presence means a lot of time, a lot of money. It's a tough commitment. Chinese e-commerce is not very complicated, it is not very expensive and it allows you to reach more consumers. However, it is imperative to be present on Baidu, the Chinese Google and translate your site into Mandarin,” explains Harold Parisot.


The share of Chinese in France, whether tourism or business, is set to grow in the years to come. The Chinese unlike the French, who are very modest, have a very simple vision of business, for them, a period of crisis is also a period of opportunity. In the space of eighteen months, several million Chinese have become considerably richer and will swell the ranks of potential consumers. For Harold Parisot, things are clear: “There is a boulevard in front of us, fifteen to twenty years of business to build”.

source




A high-level networking club

The principle of the Chinese Business Club is simple. Each month an event is organized in an emblematic place of the capital around a distinguished guest. The former President of the Republic Nicolas Sarkozy, or even the CEOs of large influential companies, such as the CEO of Total, that of L'Oréal, Prince Albert of Monaco or the actress Sophie Marceau, extremely well known in China. “The guest of honor, whoever he is, is the pretext to bring everyone together. Because with these ten years of experience and hindsight, I have very clearly observed that the more prestigious the guest of honor, the more the members come”, explains Harold Parisot.


This meeting thus allows, “an uninhibited business, people are more accessible. This allows members to combine business with pleasure, to do business while having a good time”. Among the Chinese members, the main investment funds and banks are represented, as well as many companies and party dignitaries (ambassadors, diplomats, consuls, mayors, etc.). Put on hold during the pandemic, the events of the Chinese Business Club restarted on Tuesday June 15, 2021, in the presence of the President of Huawei France, Weiliang Shi.


Distinguished guests to bring together

It is also one of these prestigious guests who in 2015 will shine the spotlight on the Chinese Business Club. Harold Parisot remembers: “I started from zero and at the beginning despite the presence of large families like the Dassault family, the club took time to establish itself. And in 2015, there was a before after. While the club was not well known, I received Emmanuel Macron as a guest and he was then Minister of the Economy. Many media came and wondered what this club was still unknown to the battalion where the Minister of the Economy was going. Since then, more than a hundred companies have been members of Harold Parisot's Chinese Business Club.


The Chinese Business Club 

lundi 25 avril 2022

Baidu Market Share 85.5% in 2022

 Baidu Market Share reach 85.5% in 2022 and is the leading search engine in China. 




Baidu’s revenue surged swiftly and totaled about 107 billion yuan in 2020. A majority of the revenue was generated through online marketing services. However, the operating profit reduced drastically after having peaked over 15 billion yuan three years prior to 2020. Although Baidu controlled about 70 to 80 percent of China’s online search market, a new contender Sogou emerged and is expected to close the gap in the near future. The underdog in the search engine market is a subsidiary of Chinese internet company Sohu, Inc. source 

https://www.statista.com/statistics/253340/market-share-of-search-engines-in-china-pageviews/

Truth be told, Baidu is in excess of a web index. It is a web benefit organization with different administrations including network administrations like ‘Baidu Baike’ which goes about as a dialect reference book. Baidu is the most prevalent web crawler in China since it is the most proficient and very much composed. It additionally enables clients to look pictures and sound documents. Also, it has turned into the standard web crawler in China. While each web search tool in China tends to have a substitute statistic, with Baidu controlling 70% of the market, it’s harder to pinpoint a specific statistic for them. The web index serves customers in each statistic. Any online business can’t thrive in China on the off chance that it doesn’t know how to showcase its item or administration on Baidu. This web benefit is the door to Chinese online networks. Here are some key actualities about Baidu.

source 

http://upstartbusiness.com/2018/10/22/startup-guide-for-baidu-marketing-chinese-seo/

mercredi 6 avril 2022

The China health , market study

 Increased spending on medical and health related items is a result of ore wealth

With the GDP growing year-on-year, Chinese customers are able to pay more for healthcare. As the Chinese embrace international health products in innovative and exciting ways, there will be no slowing down in this market. Vice Premier Li Keqiang said that the healthcare industry is now in "uncharted waters."


Chinese families are becoming more concerned about the safety and quality their products and are more likely to spend more in order to maintain high quality healthcare in China. In fact, 96% Chinese now contribute to China's basic healthcare system.


The Quest for a New Life Style that Requires New Health Solutions

China's constant economic growth and well-being improvements have raised awareness about health care's new stakes. In a society where performance pressures and environment are affecting health, the sale of OTC medicines like antibacterial remedies or sleep aids could help Chinese people cope with their modern lives.


What are the key factors driving China's healthcare market?

Find out more about these segments here

China Water & Air Pollution are a serious concern for Chinese Citizens

Air pollution is a problem for many Chinese. China has been ranked among the most polluted countries on the planet. There are also areas that are more affected than others. This makes it even more difficult to change your mentality.


China's air pollution is a grave problem. It has been responsible for between 50 000 and 500 000 premature deaths each year. This is without doubt a "health crisis." Many Chinese are switching to electric vehicles and avoiding the harmful effects of petrol-powered cars. They wear masks and use air purifiers to protect themselves. Chinese people want to live a healthy and safe lifestyle. They don't want to live in a polluted area.

China's Healthcare Market Revenues 


China's water is unsafe for human consumption and is a national problem. Although regulations have been enacted to reduce the pollution, these measures are slow-moving. Even though Chinese citizens are able to avoid drinking tap water, many Chinese still use it for other purposes, such as to take a shower, wash their hands, and clean their dishes. However, these filters can be expensive and complex, so they aren't widely used by the majority of the population, who prefer the cheaper, easier options.


This pollution threat can be prevented by citizens and governments. Health providers have a great opportunity to assist those already affected.

https://marketingtochina.com//pharmacy-healthcare-market-china-export-guide/


heavily impacted by obesity

As Chinese citizens have more money, their waistlines also grow. China's obesity is a growing problem. From 5 to 20 percent , the percentage of obese or overweight children has risen dramatically. In 2020, 10.4 percent of China children were either overweight or obese.