We all know that China is a lucrative market for every international brand. But what does it mean for the fashion industry? Here is a number for you: Chinese luxury demand accounts almost for the 20% of global spend on fancy items. Not bad right? No wonder that there is an ongoing battle between word’s best fashion houses over this piece of the pie. French luxury brand maker Louis Vuitton was first foreign brand to ever set foot there. Today we are going to see what other factors contributed towards the company’s huge success and learn lessons from luxury brand marketing strategy.
2017 is in full swing and so is ecommerce business. Based on research from emarketer.com forecasting ecommerce sales by country up till 2019, we’ve prepared an overview of the top 15 ecommerce markets in 2017. This way you can still properly re-valuate your annual marketing strategy and focus on the best ecommerce platforms. In 2016 global ecommerce website sales reached more than $22 trillion. This is a 6% yearly increase with sales estimating to reach $27 trillion in 2020.
“I don’t need much. Just someone, whom I can talk to, take a trip together and who has a similar sense of humor.” Sounds familiar? It’s almost a proverb among single people, where the same question has been asked for centuries: “Where does one go to meet new people?” The answer to this question has changed throughout time and if ladies in Victorian times swore by dinner invitations and society balls, today’s unattached men and women needn’t go further than the screen of their phone or desktop.
IKEA. During the course of 73 years, blue and yellow giant made its way into most of the countries. Currently it has 392 stores around the globe. Impressive? It gets even better. Did you know that IKEA uses 1% of the world’s wood every year or that 1 out of 10 Europeans is conceived in an IKEA bed (wonder how did they count this). What is more interesting, is how Swedish retailer executed its foreign operations. However, IKEA’s entry to China is of particular interest. Although, there were many factors that contributed to IKEA’s success, we have pinpointed several, which are the most crucial ones.
In one of the previous blog posts we have talked about how it can be tough to penetrate the Asian market and what mistakes can result from cultural misunderstandings. We are continuing our digital journey and today’s destination is Chinese business market.