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The 1.3 billion people living in China cannot be ignored in today’s world. The influence of that many consumers and the role they play in the global market is immense.
As the country opened its markets to global business in the past few decades, consumer trends have also changed.
“China’s Super Consumers: What 1 Billion Customers Want and How to Sell it to Them” by Savio Chan and Michael Zakkour, explores and gives in-depth explanations about the thoughts and behavior of Chinese consumers, including why, where, what and how they buy.
The book offers first-hand stories from executives, and bases its narrative on case studies, original research and the authors’ own experiences in providing powerful insights about the implications of the Chinese consumer boom.
Zakkour is a principal at the global business consulting firm Tompkins International, where he heads the “China/APAC Group” and has assisted more than 250 multinational and small and medium sized companies in their assessment of opportunities in China. He has helped their entry into China, including some of the biggest names in retail, consumer products, technology, fashion and luxury. Chan is president and chief executive officer of U.S. China Partners Inc., a consulting and advisory firm that implements Chinese consumer strategies. Chan has consulted on market entry, cross-border mergers and acquisitions and joint venture partnerships with some of the largest and best-known global luxury and consumer brands.
From established companies to start-ups and aspiring entrepreneurs, the book reaches any reader who is willing and interested in conducting business in China or plans to reach Chinese consumers. The reader can learn from and identify with examples from the book to either improve or begin beneficial engagements with 1 billion potential customers.
The book is divided into two parts: “History, culture, and language matter — the birth of Chinese consumerism,” and “The Chinese Super Consumer — from birth to adolescence and maturity.”
In the first part, the authors emphasize the importance of understanding Chinese culture and history. It is vitally important to take these considerations into account when trying to understand Chinese consumers — especially why relationships play a big role in decision-making.
China went through a transformation from a feudal economy in the 19th century, to a communist economy in the 20th century to become the largest consumer market in the world in the 21st century. In the second part of the book, the authors explain how consumerism in China was born and who these super consumers are.
The book cites real-world stories of foreign and domestic companies that have succeeded or failed in China. It explains in detail about the success of Pizza Hut, Ermenegildo Zegna, Alibaba and Lenovo, and how these brands managed to earn the hearts of Chinese consumers.
With interviews of CEOs of successful brands in China, the book takes readers into the boardrooms of experts who understand Chinese consumers and have succeeded in China.
The book, originally in English, was translated into Korean by Bookie and has been on sale since Aug. 28.