China’s Evolving Consumer Landscape – Challenges and Opportunities for German Businesses
The report highlights the rise of local brands, particularly in sectors like electric vehicles (NEVs) where BYD dominates the market. This trend extends beyond NEVs, with local Original Equipment Manufacturers (OEMs) exceeding 50% overall market share. This necessitates a focus on efficiency and a deep understanding of evolving customer needs through R&D for German companies to remain competitive.
The economic slowdown has impacted consumer goods, reflected in declining Average Selling Prices (ASPs). The article emphasizes the importance of prioritizing customer-centricity and efficiency for German businesses to navigate this shift.
The AHK Business Confidence Survey underlines the growing importance of localization and cultural sensitivity. German businesses must prioritize effective cross-cultural project management, best-in-class project delivery, and retaining capable staff to navigate the complexities of the Chinese market.
The AHK Ticker offers a wealth of knowledge for German businesses navigating the ever-changing Chinese consumer market. However, to gain an even deeper understanding and practical guidance, don't miss the insights from industry experts EAC Partners Daniel Berger and John Deng featured within the article.
Explore the complete article and gain a deeper understanding of the valuable information presented. Images for your reference are uploaded above. Additionally, you can visit the AHK website for the complete article:
By partnering with EAC Partners, you can leverage their expertise and ensure your long-term success in China.
