China's Super ConsumersWhat 1 Billion Customers Want and How to Sell it to Them
Chinese Consumers are Changing The World – Understand Them and Sell To Them China has transformed itself from a feudal economy in the 19th century, to Mao and Communism in the 20th century, to the largest consumer market in the world by the early 21st century. China's Super Consumers explores the extraordinary birth of consumerism in China and explains who these super consumers are. China's Super Consumers offers an in-depth explanation of what's inside the minds of Chinese consumers and explores what they buy, where they buy, how they buy, and most importantly why they buy. The book is filled with real-world stories of the foreign and domestic companies, leading brands, and top executives who have succeeded in selling to this burgeoning marketplace. This remarkable book also takes you inside the boardrooms of the people who understand Chinese consumers and have had success in the Chinese market. A hands-on resource for succeeding in the Chinese marketplace Filled with real-world stories of companies who have made an impact in China Discover what the Chinese consumer wants and how to deliver the goods Written by Savio Chan and Michael Zakkour, two leading experts on the Chinese market This book is an invaluable resource for anyone who wants a clear understanding of how China's Super Consumers are changing the world and how to sell to them.
Preface xi Acknowledgments xiii Introduction: The China Dream 1 Our Intent 7 The Country within a Country 7 PART I History, Culture, and Language Matter—The Birth of Chinese Consumerism 11 Chapter 1 From Feudalism to Fendi 13 Back to the Future 14 Chinese Consumption: What’s Old Is New Again (Tenfold!) 16 China’s Growth Is Different 18 Chapter 2 Orientation 21 A Code to the Chinese Mind-set 24 Contradiction and Paradox 30 Summary 31 Chapter 3 A Self-Contained Empire 33 Chapter 4 The First Globalization 41 Chapter 5 Marco Polo and the Two Admirals of the Sea 43 The Two Admirals of the Sea 44 Chapter 6 An Insatiable Appetite 49 Freedom Creates Wealth in the West 51 Chapter 7 Opium, Imperialism, and Decay 53 Opium and War 54 A Century of Exploitation 54 End of War—Continuation of War 56 Chapter 8 The People’s Republic 57 The New China 58 Chapter 9 The Mandate of Heaven 61 Opening and Reform 65 Green Shoots 67 Chapter 10 A Boom Is Born 69 A Boom Starts with a Swoosh and a Shot of Espresso 71 Change at Hyper Speed 74 PART II The Chinese Super Consumer—From Birth to Adolescence and Maturity 77 Chapter 11 From Sandpaper to Sephora—The First Super Consumers 79 American Century Redux 80 Want. Need. Buy. Show Off. Keep Up. 82 Super Consumption Goes Global 82 Go West, Young Man 83 China’s Own Postwar Boom and Birth of the Chinese Super Consumer 85 In the Beginning 87 Chapter 12 The China Market + The China Global Demographic = China’s Super Consumers 91 The China Whisperer 93 Spinning in a Whirlpool 95 The Great Pizza Wars: In China, Everything Is Possible, but Nothing Is Easy 96 Listen to the Great One 97 Stay the Course, Even When the Seas Get Rough 98 Nestlé: Navigating the Teen Years 100 Chapter 13 The China Global Demographic 103 The Precious Gift of Time 104 Meet the Tangs 107 Chapter 14 Channels 113 Department Stores 114 Street-Level Stores 115 Malls 116 Grocery Stores/Supermarkets 118 Hypermarkets 119 Convenience Stores 120 Not Your Father’s Post Office 121 Lifestyle Stores 126 Specialty Retailers 127 Multibrand Retail 127 Chapter 15 E-commerce and the Rise of Alibaba 129 Alibaba 130 NFL Footballs “Sold Out” 132 Why E-commerce? 135 Chapter 16 Supply Chains to Satisfy China’s Super Consumers 139 Supply Chain Megaprocesses 140 Plan 141 Buy 142 Make 142 Distribute 143 Sell 144 Aligning Strategy, Structure, and Implementation 144 Chapter 17 Segmentation 147 Surveying China 147 A Most Discerning Consumer 152 Chapter 18 Marketing 155 Consumer Impulses and Desires 156 Lenovo’s Approach: The Best of Both Worlds 157 From East to West to Wei East 161 Baby Boom 164 Brand Advertising in China 169 Going Native—Tory Burch, Gossip Girl, and Made-for-China TV 170 The Role of Social Media in Marketing: United States versus China 173 Promotions 177 Chapter 19 The Chinese Luxury and Premium Market 179 The Nouveau Riche: Pebble Beach or Nothing 180 The Gifting Group 181 China’s Engine: The New Middle Class Seeks Quality and Value 182 Affordable Luxury: A Tiffany’s Tie Clip and an Entry-Level BMW 183 China’s Luxury Downturn: Myths and Realities 186 Chapter 20 Travel and Tourism 191 Take a Walk on Boardwalk—Pass Go, Collect $200 (Thousand!) 195 Chapter 21 Chinese Super Consumers Changing the World 203 The Microsoft Miracle 203 A Final Word about China’s Super Consumers 207 Index 213
SAVIO S. CHAN is a pre-eminent expert on US-China partnerships and building loyalty with Chinese luxury consumers. He serves as President and Chief Executive Officer of US China Partners Inc., a consulting and advisory firm that helps organizations design and implement their China consumer strategies. He spent two decades as a consultant on market entry, cross-border M&A and joint venture partnership innovation with some of the largest and best known global luxury and consumer brands, Fortune 500 and Chinese large State-Own and private companies. He is frequently featured in interviews and articles in the New York Times, Forbes, Chief Executive Magazine, and China Daily News. Savio serves as a member of the National Committee on US-China Relations and advises many ultra-high net worth legacy families in both the US and China. He is a frequent keynote speaker and panelist at various business and technology events including the Conference Board, Microsoft Technology Conference, Columbia China Conference, and Wharton China Business Forum. MICHAEL A. ZAKKOUR is a principal at the global business consulting firm Tompkins International, where he leads the China/APAC practice. He has more than 18 years of international consulting, marketing and business development experience, primarily in China. He has advised more than 300 public and private companies and organizations on creating and implementing strategies to enter, grow and change their businesses in China and on their engagement with Chinese consumers. He has researched, and written extensively about Chinese consumers and consumption and the China Global Consumer Demographic, and has advised companies from around the world on retailing, branding, e-commerce, production, supply chains, and partnerships in China. He writes about business in China for Forbes and JING Daily and speaks frequently at universities, conferences, and vertical industry events. He is also a special advisor to the Confucius Institute for Business at the State University of New York. Michael also spent four years on the Board of Directors of the Asian Financial Society. His commentary and articles have appeared in the Wall Street Journal, Harvard Business Review, WWD, NPR, China Business Review, MSNBC, Newsweek, The Economist and many other commercial and academic media and journals.
China is now home to the fastest growing middle class the world has ever seen and a rapidly expanding group of wealthy and super-wealthy consumers, creating a new class of Super Consumers, the likes of which the world has not seen since post-war America and the baby boomers. A powerful Chinese consumer class was born 30 years ago and that group is now poised to dominate the global economy. China’s Super Consumers will introduce you to the “China Global Demographic” and the importance of catering to it as well as “The China Market.” Through first hand storytelling by executives, case studies, original research and the authors’ own experiences in helping companies sell to Chinese consumers, Chan and Zakkour provide powerful insights on the causes, results and implications of the Chinese consumer boom. Established companies, start-ups, and aspiring entrepreneurs can learn from and identify with these stories to either improve or begin a meaningful and long-lasting engagement with 1 billion customers. China’s Super Consumers explains who they are, who is selling to them, what and why they are buying, and how they are changing the world. This book will help you better understand what you can do to ensure you are part of this business/social/consumer revolution, and not a victim of it. Chinese super consumers are changing the world at a pace unprecedented in human history. Purchase decisions made in Shanghai now have ripple effects on the lives and livelihoods of people from Lagos to Los Angeles. They are changing the way companies design, build, market, and sell their products. They are changing the balance of trade on a global scale. They are making and breaking brands. They are changing the way bricks and mortar and e-commerce retail takes place everywhere, not just in China. Their shopping habits and attitudes, channel preferences, and communication patterns are changing the very idea of what it means to plan, make, buy, move, store, and sell products around the world. Chinese consumers are changing China and the world in ways almost impossible to forsee even five years ago. China’s Super Consumers prepares you for this new reality and explains how you can engage with, serve and profit from the most important consumer market of the 21st century.
PRAISE FOR CHINA’S SUPER CONSUMERS “Savio Chan and Michael Zakkour have succeeded in getting into the minds of Chinese consumers and explaining what they see inside. Chinese consumers are changing the world and are creating unprecedented opportunities and challenges for the companies serving them. China’s Super Consumers is a portable ‘GPS’ for understanding and engaging this fast-changing, ever-expanding class of shoppers, travelers and investors. A must-read for anyone involved with or looking to get involved with the ‘new’ China.” —Charles B. Wang, Former CEO of Computer Associates; Chairman, Smiletrain & Neulion; Owner, New York Islanders “I have known Michael Zakkour and his work for a long time; he has a sharp, clear-headed, vividly detailed understanding of the economic and cultural realities of modern China. This is presented as a business book, and it will be very useful on those terms. But it’s also an important guide to the biggest forces at work inside China and how China is changing the world and it will improve anyone’s ability to deal with, and succeed in, the world’s fastest-changing economy.” —James Fallows, National Correspondent, The Atlantic; author of the acclaimed China books, China Airborne and Postcards from Tomorrow Square “China’s Super Consumers is required reading for executives, business owners, entrepreneurs, academics and students trying to understand and decipher middle class and upper middle class consumers in China. Readers will understand how Chinese culture, history and language shape the mind-set of Chinese consumers and this book is a superb resource to help you capture the imaginations and spending power of the world’s largest population. From my viewpoint (having succeeded with Marvel films in China) China’s Hollywood will be bigger than our Hollywood in the near future.” —C. Peter Cuneo, Chairman, Valiant and Former CEO, Marvel Entertainment “Savio Chan is one of the true impresarios of Chinese-Foreign partnership building. I have built several successful businesses in China, but it took this book for me to truly understand the Chinese consumer revolution and the global impact it is having on business, culture, technology and the environment.” —Harry Edelson, Managing Partner, Edelson Technology Partners “This extraordinary book shows you how to tap into the biggest consumer market in the world, how to make more sales, fewer mistakes and greater progress in China, faster, than you ever could before.” —Brian Tracy, bestselling author and Chairman & CEO, Brian Tracy International
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