Before jumping into the Chinese market, businesses today need to do their research. As Benjamin Wey, president of the New York Global Group, explains, China is not dazzled immediately by Western brands the way that they used to be.
Businesses need to do their homework and make sure that the product they are introducing is one that the Chinese people would use and one that they don’t already have in China. Sometimes, it is also helpful to partner with a local company to cut down on costs and to help with inventory.
Being in the Chinese market is certainly important today, explains Ben Wey. Most Western businesses do feel that, if they aren’t in China, then they are “not in the largest growth market in the world.”
Learn more about Ben Wey’s advice and how to enter the Chinese market with care and thought.