If you are looking to start a business in China, it is important to know that, in general, Chinese consumers are different from those in the United States. Consumer trends vary greatly based on a variety of factors, and understanding this will help you build a more successful business.
Dealing with the Chinese from a business perspective is also different, and it is good to know how to deal with other business owners.
Understanding what the consumers want
According to Live Science, the customs and traditions in China vary according to ethnicity and geography. There are 56 ethnic groups, so it is important to understand who the people are in the area in which you want to start your business. Study the different aspects of culture, such as:
Also, keep in mind the age ranges of the people who live in the area. The older generation tends to remain traditional in their spending, while the younger generation is increasingly Westernized and conscious of quality. The average income also plays a large role in the types of food and goods that consumers purchase.
How to conduct business
While conducting business in the country, China Highlights discusses that connections and honor are important. A lot of business occurs over extravagant lunches that consist of a lot of food and copious amounts of alcohol. Although they may seem formal, it is a good idea to study up the rituals that occur during these affairs.
Although it may seem as though other Chinese business people are treating you as a friend, keep in mind that doing business in the country is ruthless, and that family members and Chinese friends generally come first.