Chinese pet market is expanding rapidly according to the growth of economic in China. Such growth is similar with the development seen in Western market. On the other hand, Chinese pet market is conservative. It is influenced by the traditional culture and limited pet culture.
Some people have had huge expectations on Chinese pet market. Some are disappointed by the gap between ideal and the reality. How exactly is Chinese pet market with 10 years of development and how far is it from mature stage?
Let's have a look.
The development of Chinese pet market is exciting. The 1.3billion population brings huge population bonus, especially for retail. The potential of Chinese pet market is one key reason that attracts International enterprise to invest here. Some among these enterprise has entered the market years ago. They believe Chinese market will play a huge part in world pet market.
The appeal of the market grows greatly once it passes the zero point. In developed country, even with large population like USA, after years of development, the market is getting saturated. To seek for breaking point, brands need to find a relatively blank market. And China is apparently a good destination.
Powerful manufacturing capability
People are used to judge the future market based on the scale of consumers. And that is why people are excited about Chinese pet market. A fact that is neglected by people is that before the emergence of pet market, China has had manufactured pet products. Nowadays, made-in-China pet products are the mainstream worldwide. An interesting fact is that while Chinese consumer doubt on the quality of the products, International buyers speak highly of the products.
The influence of incomplete market on brand
As mentioned above, the relatively blank market brings hesitation to those enterprise expect to enter Chinese market.
We do not want to advertise for Chinese market even though the advantages of the market is so obvious. The population of China is ten times larger than Japan, so the market scale will be ten times better than nowadays. Shall we just wait for it to grow? Is there anything we can do to speed up the growth? A key solution is brought up: consumer education.
To share Chinese market, everyone is on the starting line. For international enterprises, discovering Chinese market is like reviewing the work they have done, but quite different. For the local enterprises, they hold the home field advantage, but most of them lack of management experience. So who in the end can get a slice of the market depends on how well they are with the market and how far they see in it.