China is a powerhouse in world economy, dominating almost every sector in the manufacturing Industry today. And it would seem almost impossible to sell in China, as worldwide buyer’s source their products from China. Almost all tags behind most of the products we use bear the title “Made in China”. This is highly due to the fact that China is able to replicate & produce popular products that are available on across the Americas and Europe at very competitive prices due to the massive labour force that is available across the country. Their ability to produce these goods at unbelievable prices is quite phenomenal & the European and American counterparts are unable to compete with the prices that they provide.
So how is it possible to sell your products in China? In such a hoarse economy where the products are produced at such a competent price, it is difficult that one can reproduce this ability of these Chinese Mega Corporations. For centuries China has been considered a hard and close economy. There are a lot of factors one must consider before looking at sourcing your products to China.
First of all one must consider jurisdictional constraints before one would like to sell in China. All of their 30 Provinces are autonomous & implement their own trade rules & regulations. So one must tailor their strategy based on how and where they would like to sell. Another important aspect companies fear is that they would lose their Intellectual rights, but that can be very much protectable. Companies that sell consumer goods must target the ever growing Chinese Middle Class. Their purchasing parity power (PPP) is second to none in the world and it is a smart move to target this sector.
Another factor to consider before selling to China is to establish a great sales force & promote your products very vigorously. Without sales people & continuous promotion, it would be extremely difficult to sell your goods, as the market is a fast moving one rather than one where products are sold on virtue of their quality. Selling to China requires establishing a proper base in the mainland and working around it.
Creating a great brand value & trust with the people of China is another important factor in enhancing your sales in China. As always, more than a product or a good which is resourceful people always prefer to buy one which related more to them or they can identify it well. This is one aspect which has to be paid utmost attention as the Chinese market is a fast moving one as against a high brand value market.
Contrary to the popular belief that China is a closed economy & that goods only flow in from China to the outside world, it is very much a practical suggestion to sell your products to China. It is not an easy task but a very much possible. With the right kind of guile one can succeed penetrating into China’s market.