In an increasingly globalized market, it matters little whether you are a good or bad seller. The key to success today, without a doubt, is having good relationships that can complement your company’s activities.
Since China opened up to the international market in the early 1980s, the country’s economic potential has only grown. Although there are large differences between some areas of the country and others, a middle class with strong economic power has gradually been established.
Why expand into China: some facts
In all business transactions with China, the importance of millennials should be taken into consideration. According to a recent study by Goldman Sachs, those born between the 1980s and 1990s represent approximately 415 million people, approximately 31% of the Chinese population.
But it’s not just this. Millennials have superior academic preparation and greater awareness and care for the planet. 25% of them have a college degree or higher, compared to 3% of the previous generation. Additionally, they make 40% of their purchases online and often travel outside their country’s borders. These numbers alone explain the opportunity represented by this young, open and immense market.
Create a connection with the Chinese market
The growing influence of Chinese millennials has attracted the attention of entrepreneurs around the world.
To win over this high-net-worth generation, entrepreneurs must adapt to their needs with customized products and services. They need to take advantage of all the technological advancements and leverage data analytics capabilities to provide personalized experiences. It is worth continuing to innovate and constantly renew yourself with new business models to always be up to date. Online shopping can be one of the solutions to provide the integrated shopping experience that Chinese people are looking for. And in this way, it could mean not only expanding the borders to China, but to all the countries in which it wants to operate.
If you decide to sell your products or services in China, you will need a good business connection, to establish strong bonds with people in the area. To create bonds, a company that wants to do business today cannot do without an excellent language service provider. Language is what allows us to establish relationships, but it is also what separates us from others. Breaking down linguistic and cultural barriers is the first step to expanding your business in the endless and very rich Chinese market.
Expand your business in China with LingoYou
To expand your business in China, you need to rely on a professional translation service that accompanies your growth, both in terms of understanding local regulations and in terms of understanding and stipulating supply and purchase contracts. It’s not enough to translate, you have to localize. LingoYou is the agency specialized in the localization of Chinese texts, thanks to the work and collaboration of translators with 5+ years of experience.
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