Chinese marketplace still the place for Western retailers to be, despite economic slowdown.

Position:China News and Business
 
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Recent success from Jimmy Choo proves the power of Western brands in China

Jimmy Choo increased their annual global revenue in 2015 by 7 per cent to 318m [pounds sterling] thanks in part to its eight new stores in China. This demonstrates the continuing popularity with western brands in the country. Retail sales in China for December 2015 were up 10.1 per cent year on year despite the worries about the overall economy as the nation continues to be a hotbed for retailers. [1]

To sell successfully online it is critical that retailers offer a localised online service for the country, as 32 per cent of Chinese consumers' state they shop online to access a wider range of brands, highlighted particularly amongst those who live away from the major cities. [2] This is key given the vast size of China.

And we know they love to buy from abroad. A recent payments report stated that thirty-five per cent of online shoppers in China are now buying cross-border. This is driven by consumers wanting the guarantee of high quality goods that is ensured from buying direct from foreign brands. This quality assurance is the reason that 51 per cent of consumers in China use eCommerce. For businesses, developing a direct eCommerce strategy reinforces this brand integrity, while offering a localised website for the Chinese economy allows for convenience, easy access and simple payment acceptance.

Andy Muldoon CEO of PowaWeb. a leading eCommerce provider to global retailers' comments: "It's great to see how resilient the Jimmy Choo brand has been in the Chinese market, yet by adopting a direct online retail...

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