China’s prominence in the Third quarter
“Coca-Cola said this week that sales volume in the third quarter was up 15 per cent in China, but down 4 per cent in North America.” –The Australian
For the third quarter, “emerging countries, which accounted for nearly a third of Gucci’s earnings showed encouraging growth, in particular China and Hong Kong, driven by strong performances in the Group’s 38 directly operated stores.” –Luxury Insider blog
“Chinese customers, both at home and on vacation, have become the biggest buyers of Louis Vuitton clothes and handbags and Hennessy cognac, ahead of both the Japanese and the Americans.” –WSJ
“As a result of robust sales in the first three quarters of 2009, the Chinese mainland has vaulted ahead to become the fourth-largest market for BMW Group…after Germany, the United States and the United Kingdom. . .Powered by the country’s steady economic expansion, demand for luxury cars in China is expected to grow rapidly in the next five to 10 years.” –China Daily
It has become clear over the past few years that China is increasingly becoming an economic power to be reckoned with and an interesting market for many brands that are already present on mainland China or thinking of making the move.
If your company is already present in China, you are most likely familiar with the fact that many Chinese use sites that are in Chinese to chat, share videos and pictures, and talk about products that they like or dislike. Analyzing word of mouth on mainland China is far more difficult, however, than monitoring it on the Internet, as “Vernacular Chinese” has become the written standard based on the modern Mandarin group of dialects and used by all Chinese-speakers.
If your company is not yet present in China, you should monitor online conversations to discover communities interested in your industry, influential opinion leaders, sentiment towards certain types of products or brands, etc.
“Synthesio has spent the past few months developing our information source database to be able to provide our clients with a reliable coverage of Internet information from principal press sites, blogs, forums, etc. in Mandarin and Russian.” –Synthesio blog
Contact us to start monitoring and/or for recommendations of agencies that can help you get started.