ABOUT THIS EVENT
Fashion and beauty brands discussed breaking into China and the Middle East. Here are some of the views shared around the table.
China is ahead of the UK when it comes to service level. Same day delivery accounts for 58% of all orders (on JD.com), and 80% of orders take place on mobile.
Wealth is moving, out of the suburbs and cities, into the countryside. These customers are in areas which cannot sustain stores, so they are more reliant on e-commerce.
Wechat has credit card details for 627m users – fraud concerns means cash isn’t trusted.
Can a brand go it alone in China? It is possible, but 85% of product searches take place on marketplaces. Examples of brands that have done it started on marketplaces.
Chinese customers want western products – that mustn’t be confused with western brands. Why would they want products made in China which they can get in local street markets?
Niche luxury brands with a story win in China – mainstream luxury brands can be counterfeited easily, meaning genuine products can be confused as fake, making them less desirable.
The Middle Eastern market is driven by low price, high volume fashion product.
Return rates in the ME region are virtually zero. Customers are more likely to gift unwanted products to family or friends.
Billboard advertising in the ME is effective as so much time is spent on the road, driving.
Saudi Arabia has the highest number of YouTube views per capita.
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