SEOUL, June 27 (Korea Bizwire) – Chinese consumers, particularly women in their twenties and thirties who make direct online purchases, tend to prefer authentic products manufactured abroad.
The Korea Trade-Investment Promotion Agency (KOTRA) released a report entitled “China’s International E-Commerce Trends and Our Market Expansion Strategy” on Sunday, June 26.
China’s e-commerce market is growing rapidly, replacing the traditional retail market. Offline retailers are being pushed to come up with ways to make good use of online markets.
The report contains details related to China’s international e-commerce trends, a change in policy, and an analysis of expert opinions. The first part of the report, “Understanding”, introduces the development history of Chinese international and domestic e-commerce markets.
The second part, “System”, discusses the current government’s tax and custom policies, and the last part “Application”, contains information such as logistics and customs strategy and platform utilization that may be useful for companies in Korea.
The report stresses that assuming Chinese consumers prefer cheaper products amounts to little more than prejudice, and this type of bias could cause Korean businesses to develop misdirected business strategies.
Local consumers who buy products directly from foreign online stores are inclined to make reasonable purchases, especially women who consider their actual need for products before they make decisions. They prefer “authentic” branded products made in their country of origin instead of those made in China, according to the report.
“To build customer trust, it is important for a company to sell genuine products in order to target consumers in local markets,” said an industry official.
By M. H. Lee (email@example.com)