China is expected to reach $40 Billion by 2023 in its nutritional supplement market, According to a report released by BusinessWire. Growing at a Compound annual growth rate of 14%， China may overtake if it hasn’t already the USA as the most significant nutritional supplement market in the world.
Why is this market interesting for foreign companies?
Since the Quality of domestic medical care is a major concern in China, with an aging population growing every day. Chinese are growing. The pursuit of physical fitness aligns perfectly with China’s cultural ideals. While improving oneself with a healthy lifestyle, they are also looking for improving their food intake by consuming these supplementary products.
Many of the changes seen in the consumer market are driven mainly by China’s emerging middle class. which is on track to expand from 430 million (2018) to 780 in 2025 if the government reach their annual goals. among them, the generation born in the ’90s is considered the new engine of consumption. Powered by their extraordinary levels of wealth, exposure to western culture, and digital Fluency, they are expected to account for over 20% of the total consumption growth in China by 2030.
China is facing a looming health crisis- an unsupported aging population as a result of the one-child policy (now two-child policy since 2016), record-high pollution levels, heightened level of progressive and serious illnesses. with an ailing healthcare system, the Chinese are looking for alternatives for taking care of their health. In response to the growing health issues, The State Council launched an ambitious plan called “healthy China 2030” initiative to showcase the government commitment on preventing disease and improving public health and fitness.
孝道 (xiao dao) an important value in china
Among multiple values in China, the filial piety or “xiao” is the most important one. As parents raise their children, they have to do the same thing in return for their parent’s care and material goods when they grow up. The concept originating from Confucianism that outlines the duty of each member in a family. The youngest has to respect elders and listen to them, otherwise, this is not seen as honorable by the others. As Chinese people care about their faces a lot in China and use to put their family first, they will do their possible in order to take care of them and not let them worry.
Dates to save for market mother health supplement
although males outnumber females in China, the Female market is growing. driven by an increase in income level, broader exposure, and changing roles and values. women are leading in the wellness consumption trends in China. On top of that, China’s domestic and cross-border E-Commerce growth continues to outpace retail sales growth. in 2020 sales are expected to continue their good forecast and the best way to join the good vibes is by using the holidays for marketing your pro
- International Women’s Day (三八妇女节 San Ba fu nu Jie)
It is not only a day for mothers but for all women, it is celebrated every March 8th (the name came from here: 三八 means 3.8). It is an important date with a lot of exchanges because besides of receive gifts from family, there is also men friends, men colleagues who would offer a gift to their women friend of the family.
- Mother’s day (母情节 Mu qin Jie )
Of course, the most famous of all is Mother’s Day. This day isn’t celebrated on the same date in China as other countries do because it is based on the lunar calendar (on the second day of the fourth month).
A lot of shops launch special events or product’s special edition and advertised in advance in order to get maximum leads from that special day.
Children often buy greeting cards and use this occasion to write down their blessings to their mother.
- shopping Carnival 618
618 is China’s second-largest e-commerce festival. Originally a way to celebrate JD’s founding, it has since evolved into a whole-of-internet, platform-agnostic e-commerce extravaganza. .
- Double eleven 11.11
The largest e-commerce festival of the year in China is on November 11, better known as Single’s Day or Double 11 (双十一). The festival’s size and the scale keep on growing. TechNode reports Chinese consumers spent more than RMB 100 billion ($14.3 billion) in the first 64 minutes of e-commerce giant Alibaba’s Singles Day shopping event, breaking last year’s record of 107 minutes.
- Chinese New Year
It’s the biggest occasion for Chinese people to bring something to their family. In China, a lot of persons work far from their city or their hometown and can’t see their family for a while. The only break for many of them is the period of Chinese New Year, so they use it to visit their family.
Using Chinese discount festivals in sales
Discount festivals, Done correctly, can help you gain and retain loyal customers in the Chinese market. if executed poorly, you just lose the opportunity of maximizing your sales. We in GMA prepare our customers brand with the promotion and strategy, offer you the best advice on how to come up with promotion strategies that will differentiate your brand position from other competitors.
What to do in Chinese discount festivals
the marketing new norm “live streaming” which has become the latest trend for marketing and selling your products and services. Given that Chinese consumers are increasingly used to filling everyday shopping needs with using live streaming is propper way to use this festival to your advantage.
How to plan a propper live streaming marketing Strategy
You need to find a KOL that shares the same values as your brand. You also need to pay attention to its community. Is it the kind of consumers that you want to target? Be careful, because sometimes, an influencer with the biggest amount of followers isn’t always the wisest choice.
Interested in Chinese market? Do not hesitate to contact our agency. Our team of experts will guide you and provide the right strategy for your project in China.
Read also :