{"id":10562,"date":"2022-06-30T07:09:36","date_gmt":"2022-06-30T07:09:36","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=10562"},"modified":"2022-07-04T14:27:55","modified_gmt":"2022-07-04T14:27:55","slug":"china-consumer-2022-how-british-brands-can-win-in-china","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/china-consumer-2022-how-british-brands-can-win-in-china\/","title":{"rendered":"China Consumer 2022: How British Brands can win in China"},"content":{"rendered":"

The first day of CBBC\u2019s China Consumer 2022 Conference was held in London on 28th June, with over 120 delegates attending to hear from a line-up of expert hosts and speakers discussing the future of retail in China, and current and future trends in the consumer sector<\/h2>\n

The event was composed of dedicated panel discussions as well as tailored breakout sessions, and offered cutting-edge insights and actionable takeaways for UK consumer brands in attendance, no matter what stage they were at on their China journey.<\/p>\n

The day started with CBBC\u2019s Chief Executive, Andrew Seaton offering introductory remarks on China\u2019s retail landscape. Soon to be the biggest importer in the world and with a middle class that is set to double to over 600 million people by 2030, China, he said, is an economy that UK businesses cannot afford to ignore. \u201cWith a high propensity to consume and a booming digital market, China has the power to transform businesses, and success with China means jobs and prosperity across the UK.\u201d<\/p>\n

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He said that although China and the UK might currently have political differences, it is in the UK\u2019s interests to look to rebuild exports as an important source of economic growth. \u201cIf post-Brexit Britain is not trading with the world\u2019s biggest economy, then the losers are British workers, British businesses and the British economy,\u201d he explained.<\/p>\n<\/div>\n

Antoaneta Becker, CBBC\u2019s Director of Consumer Economy and organiser of the Conference, introduced the day\u2019s sessions explaining that the last two years had seen changes in China that have caused people to question the liberalisation and opening-up of the country. Closed borders, government focus on domestic consumption<\/a> and domestic tourism, the ongoing zero-Covid<\/a> policy, and the repatriation of luxury spending have made the China market landscape more complex for British businesses.<\/p>\n

Furthermore, the Chinese Government\u2019s promotion of the Dual Circulation<\/a> policy to boost domestic production and consumption and the Common Prosperity<\/a> policy to even the gap between the wealthy urban population and the rural poor and redistribute wealth has been manifested in crackdowns on private education, the consumer Internet, Big tech and the gaming industry.<\/p>\n

However, frequent lockdowns that saw people in China spend extended periods of time at home have only served to accelerate a digital transformation with China leapfrogging the UK when it comes to smart retail, social selling and creating full digital retail experiences.<\/p>\n