The world’s second-largest economy is waiting to be discovered. With 1.3 billion active internet users, the potential market for online goods and services is colossal. But navigating this market can be difficult. That’s why we’ve gone ahead and curated this important list of tips and tricks for you! Here are a few essential things you need to know before diving in.

The Growth Of Online Commerce In China

You might be wondering where all the change in China is happening. After all, it is the world’s third-largest economy and has been growing at an astronomical rate. As recently as 2016, its annual GDP was 364.8 billion USD and is projected to reach 549.8 billion USD by the end of this year.

The increase in digital commerce in China can be largely attributed to its “New Retail” wave. This entails online marketplaces such as Taobao, where individuals can easily find and purchase any product, as well as smaller platforms such as Pinduoduo and WeChat, which focus more on local commerce.

In 2016, online sales in China reached 132.2 billion USD, up from 74.9 billion USD in 2015 and 38.3 billion USD in 2014. This figure is expected to hit 268.5 billion USD by next year.

How To Market To The Chinese Online

While the demand for online goods and services in China is clear, so is the competition. When it comes to selling products to this market, you need to put in the hard work required to gain recognition and drive sales. To start, you need to identify your target audience and create buyer personas. Furthermore, you need to determine how you will go about marketing to this audience.

To find the right retailers and suppliers for your products, you will want to enter an online marketplace like Alibaba, where you can connect with local merchants who can then promote your products to their customers.

Once you have established rapport with potential retailers, you can move into the complex task of negotiating the terms of a sale. This involves haggling over price, delivery time, and other variables. While this might seem like a daunting task, by following a few tried and tested techniques, you will be able to secure favorable deals.

Types Of Marketing Channels

Depending on your product, you will need to consider the various types of marketing channels available to you. While many marketers focus on organic search and social media, you need to consider other types of techniques, such as paid search, which enables you to target people who are actively searching for the product you are promoting.

You can also utilize social media to generate word of mouth, amplifying the impact of your marketing efforts. Finally, you can opt for paid digital marketing, which combines various types of marketing methods to target the right audience.

To succeed in marketing to the Chinese online, you need to have the right strategy and you need to be disciplined about its execution. To get started, reach out to our specialists today!