A large e-commerce conference will take place in Shanghai, China in March of the New Year. This is testament to the growth and variety of e-commercial industries in China and also a clear signal to western firms that China’s online market is ripe for further development and expansion. The conference will focus on cosmetics as this is a huge area of expansion in China, the market increases by 20% per year. More than a decade ago, e-commerce was starting to grow in China, the fastest-growing internet economy in Asia. In 2010, China’s e-commerce sales totaled RMB 460 billion. That figure is expected to triple to RMB 1.5 trillion in the next three years.
In spite of its increasing influence a series of laws and regulations have been enacted by the government, resulting in some restrictions. Thus challenges remain for small to medium-sized businesses looking to do business in China.
Businesses are still enamored by the huge market with over 300 million Chinese now online. Practical guidance for selling their quality goods or doing lucrative business in China is needed currently more than ever. This is the objective in organizing the “Catch the Dragon” event – to help entrepreneurs gather necessary information, as well as to conduct e-commerce in China through strategic partnerships and/or third party platforms.
Language specialists ‘Tailor made Chinese’ emphasized the importance of speaking Mandarin; “Businesses need to communicate in Chinese and understand the more complex nuances of the language, a Chinese partnership is often necessary as cultural and language barriers can be an issue”.
China’s e-commerce market still has plenty of room for growth and this coupled with an insatiable demand for western products presents a key opportunity.
Benji specializes in e-commerce and digital marketing in China, he is passionate about finding solutions for western brands looking to expand into the mysterious orient. For me information see his website and blog here.