Success in the Chinese market requires getting everything right
Drapers fashion forum 0537
China is an increasingly competitive market for European retailers, but presents huge opportunities, Pitney Bowes senior vice-president Mike Griffin told this week’s Drapers Fashion Forum.
“China is a massive market but everyone’s trying to get in to it and retailers have got to get everything right,” Griffin said.
“It’s a complicated market with a lot of price sensitivity and if you fall down on just one area, the business will struggle. That doesn’t mean you can’t do business there. It’s just a case of being aware that if your website is in English and price is in [sterling], it’s going to be difficult.”
Griffin stressed that localisation is increasingly important for retailers looking to break into overseas markets and added brands must consider carefully about where and why they are expanding.
“You have to think about what you’re doing to optimise sales and why you’re entering a market. If you’re just going because you have some demand in that country and think you should, it’s not going to work.”