China is a powerhouse in the world economy, dominating almost every sector of the manufacturing industry today. And it would seem almost impossible to sell to China, as buyers around the world source their products from China. Almost all the labels behind most of the products we use are labeled “Made in China.” This is largely due to the fact that China is able to reproduce and produce popular products that are available in America and Europe at very competitive prices due to the huge workforce available across the country. Their ability to produce these products at incredible prices is phenomenal and the European and American counterparts cannot compete with the prices they offer.
So how is it possible to sell your products in China? In such a rough economy where products are produced at such a competitive price, it is difficult for one to reproduce this ability of these Chinese mega-corporations. For centuries, China has been considered a tough and closed economy. There are many factors that one should consider before looking for your products in China.
First, you have to consider jurisdictional limitations before you want to sell in China. All of its 30 provinces are autonomous and implement their own trade rules and regulations. Therefore, one must adapt their strategy based on how and where they would like to sell. Another important aspect that companies fear is that they would lose their intellectual rights, but that can be very protectable. Businesses that sell consumer goods must target China’s growing middle class. Its purchasing 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 establishing a large sales force and promoting your products very vigorously. Without continuous sales and promotion staff, it would be extremely difficult to sell your products as the market is moving rapidly rather than one where products are sold by virtue of their quality. Selling to China requires establishing a suitable base on the mainland and working around it.
Creating great brand equity and trust with the people of China is another important factor to improve your sales in China. As always, more than a product or a good that is ingenious, people always prefer to buy one that is more related to them or can be identified well. This is an aspect that should be given the utmost attention, as the Chinese market is moving rapidly in the face of a high brand value market.
Contrary to the popular belief that China is a closed economy and that goods only flow from China to the outside world, it is a very practical suggestion to sell your products to China. It is not an easy task but it is very possible. With the right cunning, you can break into the Chinese market.
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