It is usually easy to gain revenue for brands who establish branches in New York or even London. However, the Chinese retail manufacturer, Bosideng has failed to receive profit in the international setting. As a result, it is returning to its home base to revive the loss in sales. This is not the first time for Chinese companies to attempt to reach the overseas market. Although the Chinese brands are quite known to the locals, it is not the same in the global market with the limited recognition given. Their strategy of making items available in the market is not quite effective to other people compared to the consumers in China.
The current trend in the industry is working on and building a consumer environment which certain brands cannot achieve. The initial investment for the brand in building a branch overseas is quite huge itself. Consequently, the investment increases to be able to attract and collect interested consumers. What is not known to some Chinese retailers is that recognition in the global market is also essential for their success. Other known brands in respective countries are being supported by consumers since it has either been present for a long time or has already proven quality.
A huge competition is always present with fast-fashion brands more particularly in the US. The manufacturing of retailers occurs in China but as a brand, consumers are familiar with it as originating from the US or other foreign countries. The popular retail companies have exerted investments in advertising and marketing just to introduce collections and to continuously promote the brand and products. It includes being involved in social media platforms and interacting with consumers to build relationships.
While China’s brands for gadgets and technology are more successful overseas, the retail industry does not amount to the same level of revenue and market. The retail companies are not quite adept as to how the international market must be approached in order to increase product knowledge and support. This is a new experience for Chinese retail brands and serves as an example to further improve their process to move to the bigger market.
The goal of retail is to provide product and services when needed, however, China must consider having a deeper connection to the consumers by having a vision and sharing their story. This creates a bigger impact and drives interest to possible new buyers. Selling a product is not an easy task more so when a brand is only starting up in a new market.
Chinese brands are now venturing into the international market targeting the US. However, certain US businesses are not new in this setting. As a matter of fact, American companies have long been present in China’s territory. It is long known that even when China experienced the Nanking Massacre, some innocent Western civilians were also affected. This event was decades ago but has not resulted to any discontinuation of bilateral relations between the two. There is admittedly a more difficult process to perform business but it what’s important is that it has survived challenges and is still ongoing.
China is known for manufacturing retail products from brands all over the world but it does not have luck in selling even its own items. Also, with the fast-changing retail industry and consumer demands, it is really difficult to enter a market. People generally have evolving preferences, even some prefer more ethical brands and the seasons change as well. The international market does not close its doors to new brands but having a good technique will help retailers to go a long way, moving further with just the domestic consumers.