Opportunities from the growing Chinese middle class continue to emerge for companies around the world and there’s no bigger opportunity than the online market.
Indeed, internet commerce has made selling products into mainland China easier than ever before.
In 2014, the Chinese online market was a sizeable $US21 billion – but it’s expected to grow to $US245 billion by 2020, according to Ken Ma, Alibaba’s head of international business development in the Asia Pacific.
Peter Osborne, Blackmores managing director in Asia says online sales into China in a big part of their business.
“About 80 per cent of our sales in China are online,” he says. “For foreign companies it’s a relatively easy route to market.
Osborne also touched on the importance on marketing on social media in China. Watch the video above to find out more.
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Tim Harcourt is the JW Nevile Fellow in Economics at UNSW Business School.
The Airport Economist, hosted by regular BlueNotes contributor Tim Harcourt is your TV guide to doing business in Asia, and is shown on Sky News and now on Qantas. ANZ is proud to be a foundation partner of The Airport Economist.
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.