Food trade show presentation feb 2020
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The document discusses the risks and rewards of selling food products to China. It provides an overview of the growing Chinese market and food import trends. The presentation recommends developing a sales strategy that identifies suitable products, sales channels, target regions and customers. It also warns of food fraud risks in China and advises traders to trademark brands, conduct due diligence on customers, implement supply chain traceability systems, and have representatives located in China. Overall, the document sees opportunities in China but stresses the need for careful risk management strategies.
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Food trade show presentation feb 2020
- 1. The Risks & Rewards of Selling Food to China โ (Presented at Northern Ireland Manufacturing & Supply Chain Conference 27/02/20 TCI China https://www.tcichina.co.uk
- 2. Who am I? Aidan Conaty โขFounded TCI China in Qingdao China in 2003. โขEstablished a QC Inspection network in 75 countries. โขSet up the Goodada International trading platform. โขChina analysis for Sea Fisheries Protection Authority. โขWork with Seafood Companies exporting to China. โขQualified Management Accountant (CIMA) & an MBA from Trinity College Dublin. โขWrite Business articles and blogs. TCI China https://www.tcichina.co.uk
- 4. TCI China https://www.tcichina.co.uk China โMarket Overview โข By 2022 โ Its middle class est. 550 million. โข In purchasing-power-parity terms, that range is between Brazil and Italy. โข Millions of Chinese trading up and becoming more picky in their tastes, becoming more โwesternisedโ. โข Regard expensive products as intrinsically better than less expensive ones, are happy to try new things. โข Use the Internet to research other peopleโs feedback about a product. โข Growth is forecasted to be stronger in smaller, inland cities.
- 5. TCI China https://www.tcichina.co.uk $0 $2,000,000,000 $4,000,000,000 $6,000,000,000 $8,000,000,000 $10,000,000,000 $12,000,000,000 2014 2015 2016 2017 2018 Meat & edible meat Imports(US$) China โ A Large Importer of Food
- 6. TCI China https://www.tcichina.co.uk China โ Sales Strategies & Tips
- 7. Key Sales Strategic Questions Always ask the following key questions: 1. What products can you sell into China? 2. How do you intend to sell the products in China? 3. Where in China do you intend to sell the products? 4. Who are you going to sell the products to in China? TCI China https://www.tcichina.co.uk
- 8. 5 Tips to Successfully China Sales 1. Pricing 1. Consider a Premium Pricing Strategy. 2. Price to negotiate. 3. Remember โP.I.D.E.Lโ. 2. Explore different selling channels. 3. Have a โon the groundโ presence in China. 4. Avoid selling on credit. 5. Donโt be afraid. TCI China https://www.tcichina.co.uk
- 10. Food Fraud in China โข 2008 - tainted milk powder scandal. โข 2014 - a meat supplier to fast food chains McDonaldโs and KFC in China was found to be repackaging old meat and selling it as new. โข 2015 - authorities seized 100,000 tonnes of smuggled meat; some was more than 40 years old. โข 2017 - authorities discovered 50 factories manufacturing fake versions of well-known and widely used food seasonings and sauces. TCI China https://www.tcichina.co.uk
- 12. Tips to Protect the Food Products you Sell into China 1. Trademark your brand name & logo in China. 2. Have a โOn the groundโ presence in China. 3. Conduct continuous due diligence on your customers. 4. Have a auditable supply chain system - โFrom Farm to Forkโ. 5. Create a bi-lingual Chinese sales contract. TCI China https://www.tcichina.co.uk
- 14. Conclusion โข There are tremendous opportunities in China for NI & UK Food companies. โข Be constantly reviewing your China Sales Strategy - especially if already doing business there. โข Have a โOn the Groundโ presence in China. โข Always be conducting due diligence. โข Protect your brand name. TCI China https://www.tcichina.co.uk
Editor's Notes
- In 2002, 40 percent of Chinaโs relatively small urban middle class lived in the four Tier-one cities: Beijing, Shanghai, Guangzhou, and Shenzhen. By 2022, the share of those megacities will probably fall to about 16 percent. +75% of Urban consumers earn ($9,000 to $34,000) a year.
- Strategy is messy Creating a worthwhile plan People are the key to success or failure Leadership is at the CORE Leaders are people tooโฆ
- What products do you intend to sell into China? What products are youโre allowed to sell to China? Are you certified and Are you registered with the Chinese to sell these products into China? What are the import taxes for your products? Who is the competition ( Ireland & France for Oysters) 2. How do you intend to sell the products in China? 1. Are you going to sell to wholesalers or importers 2. What about ecommerce platforms? 3. What about having your own ecommerce platform 3. Where in China do you intend to sell the products? 4. Who are you going to sell the products to in China?
- Strategy is messy Creating a worthwhile plan People are the key to success or failure Leadership is at the CORE Leaders are people tooโฆ