China represents attractive economic prospects for French brands. But it’s vital to be well prepared for this very special market. Sébastien Lion, co-founder of Next Made In France (a connection solution between French brands and Chinese distributors), explained the Chinese way of consuming at a discussion morning organized by Sorga on November 15 in Paris.
According to the expert, China has one billion Internet users, including 840 million potential online shoppers. “Generally speaking, they make their purchases on the occasion of major live festivals organized by local retail giants, such as Single Day (11/11), for example. The figures for the 2023 edition are not yet known, but this year, the lowest prices have been charged in response to the decline in purchasing power and inflation that Chinese households have been suffering in recent months.”
Each year, a growing number of distributors take part in these sales operations. “If we take the example of Single Day, which was created in 2010, 30 companies took part in the beginning. Today, there are 300,000.”
Another important point is the internationalization of brands. More and more foreign manufacturers are joining in these events, “particularly players in the French cosmetics industry.”
Finally, Sébastien Lion points to the growing popularity of live streaming during these major promotional periods. These live demonstration videos, hosted by a KOL (Key Opinion Leader), are followed by millions of Internet users.
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