Researched How customers ' buying behaviors are likely changing due to the Covid-19 situation. You will find detailed insights into consumers' perceptions of this presentation.
This document provides an overview and analysis of the convenience store industry. It finds that while the convenience store channel experienced above-average growth in 2012, it faces challenges from increasing competition and reliance on gasoline and cigarette sales. The document recommends that convenience stores innovate to appeal to younger shoppers and expand healthy offerings to attract new customers and drive continued growth.
Top 5 Trends For CPG & Retail Industry 2015ITC Infotech
With the CPG & Retail industry gaining fast grounds into an increasingly global market place, businesses are demanding a blend of Strategic Consulting, Operational Consulting and Value Realization through flawless
execution. Glocalisation – phenomenon of the modernized world – has a profound effect in the CPG & Retail industry and has created unprecedented challenges such as, maintaining consistency in customer experience, optimizing supply chains in emerging markets and devising
methods for developing new products more efficiently. We believe that in order to help the industry gear up for success and be future-ready, consulting firms will have to seamlessly blend industry & domain expertise
with management consulting skills, bringing unique capabilities to discover and resolve business concerns of the day.
The document discusses taste and preference for biscuits in India and analyzes a case study on demand for biscuits. It explains that taste and preference depend on consumer psychology and play a big role in demand for non-durable goods like biscuits. It discusses how Britannia and Parle understand consumer preference for low-cost biscuits and have targeted both rural and urban consumers accordingly. The case revolves around demand, which depends on factors like price, income, tastes, and expectations about the future. The document analyzes how Britannia has positioned itself strongly in the biscuit market in India.
Millennials have gotten more attention, but aging baby boomers represent a vast opportunity for marketers at consumer goods and other companies. Based largely on research by ReD Associates, our collaborative paper explores how you can effectively address boomers' changing roles, lifestyle shifts, major purchase patterns, and other behaviors and characteristics.
Japanese consumer behavior and expectations differ significantly from Western standards. Some key differences include their preference for quality products and excellent customer service over conspicuous consumption. Younger generations are becoming more individualistic and value-conscious. Japanese also place importance on shopping as a recreational activity due to limited entertainment options. However, consumer habits are changing with people spending less on brands and focusing more on necessity purchases. Retailers must adapt to Japan's aging population, income polarization trends, and evolving consumer lifecycles to succeed in this market.
This document provides an overview of the evolution of organized retail in India, with a focus on food and grocery retailing. It discusses the shift from traditional unorganized retailing to modern organized formats like supermarkets and hypermarkets. Food and grocery makes up the largest segment of retail spending in India. While organized retail currently accounts for only 4% of the market, it is projected to more than double in the coming years. Major players in the Indian food retail space utilizing various formats like hypermarkets, supermarkets, and convenience stores are discussed. Trends like private labels, health and wellness products, and technological innovations that can provide competitive advantages are also summarized.
Researched How customers ' buying behaviors are likely changing due to the Covid-19 situation. You will find detailed insights into consumers' perceptions of this presentation.
This document provides an overview and analysis of the convenience store industry. It finds that while the convenience store channel experienced above-average growth in 2012, it faces challenges from increasing competition and reliance on gasoline and cigarette sales. The document recommends that convenience stores innovate to appeal to younger shoppers and expand healthy offerings to attract new customers and drive continued growth.
Top 5 Trends For CPG & Retail Industry 2015ITC Infotech
With the CPG & Retail industry gaining fast grounds into an increasingly global market place, businesses are demanding a blend of Strategic Consulting, Operational Consulting and Value Realization through flawless
execution. Glocalisation – phenomenon of the modernized world – has a profound effect in the CPG & Retail industry and has created unprecedented challenges such as, maintaining consistency in customer experience, optimizing supply chains in emerging markets and devising
methods for developing new products more efficiently. We believe that in order to help the industry gear up for success and be future-ready, consulting firms will have to seamlessly blend industry & domain expertise
with management consulting skills, bringing unique capabilities to discover and resolve business concerns of the day.
The document discusses taste and preference for biscuits in India and analyzes a case study on demand for biscuits. It explains that taste and preference depend on consumer psychology and play a big role in demand for non-durable goods like biscuits. It discusses how Britannia and Parle understand consumer preference for low-cost biscuits and have targeted both rural and urban consumers accordingly. The case revolves around demand, which depends on factors like price, income, tastes, and expectations about the future. The document analyzes how Britannia has positioned itself strongly in the biscuit market in India.
Millennials have gotten more attention, but aging baby boomers represent a vast opportunity for marketers at consumer goods and other companies. Based largely on research by ReD Associates, our collaborative paper explores how you can effectively address boomers' changing roles, lifestyle shifts, major purchase patterns, and other behaviors and characteristics.
Japanese consumer behavior and expectations differ significantly from Western standards. Some key differences include their preference for quality products and excellent customer service over conspicuous consumption. Younger generations are becoming more individualistic and value-conscious. Japanese also place importance on shopping as a recreational activity due to limited entertainment options. However, consumer habits are changing with people spending less on brands and focusing more on necessity purchases. Retailers must adapt to Japan's aging population, income polarization trends, and evolving consumer lifecycles to succeed in this market.
This document provides an overview of the evolution of organized retail in India, with a focus on food and grocery retailing. It discusses the shift from traditional unorganized retailing to modern organized formats like supermarkets and hypermarkets. Food and grocery makes up the largest segment of retail spending in India. While organized retail currently accounts for only 4% of the market, it is projected to more than double in the coming years. Major players in the Indian food retail space utilizing various formats like hypermarkets, supermarkets, and convenience stores are discussed. Trends like private labels, health and wellness products, and technological innovations that can provide competitive advantages are also summarized.
The attitudes and behavior of Japanese consumers are shifting dramatically, presenting opportunities and challenges for companies in the world’s secondlargest
retail market.
by Brian Salsberg
from McKinsey Quarterly
The document provides an analysis of the Chinese market for Juan Valdez Premium Colombian Coffee. A team was hired to create a marketing plan to bring the coffee into China. China's coffee consumption has grown at 15% annually, much higher than the global average of 2%, and its population of 1.3 billion people represents a huge potential market. The analysis covers political, legal, economic, cultural, social and technological factors in China relevant to marketing Juan Valdez coffee.
China E-Commerce & Social Media Customer Behavior Overview Andrea Colaianni
China is set to become the largest e-commerce market in the world, reaching $300 billion by 2015. Chinese consumers are younger than Western consumers and have different shopping behaviors. They are price sensitive but high spending consumers seek niche brands. Chinese consumers have less knowledge of fashion but are eager to learn from peer recommendations on social media more than brands. Sina Weibo, with over 300 million users, is a key social media platform where brands can educate customers and engage them through contests and advice to build loyalty.
1) Ecommerce represents a small portion of current FMCG sales but is growing rapidly in many markets. It has the potential to account for over a quarter of global FMCG sales if online adoption increases.
2) Barriers like delivery costs are limiting ecommerce growth but retailers that adopt online strategies gain loyalty and additional revenue rather than losing existing sales.
3) Countries vary in their ecommerce penetration with leaders like South Korea at over 10% while most others are still under 5%; however, global growth rates are over 30% on average.
China's ecommerce market is growing rapidly, particularly in smaller cities, with online sales expected to reach nearly 30% of all retail sales by 2018. Mobile commerce is also rising quickly, with over 90% of online transactions occurring through marketplaces like Taobao and Tmall, which are dominated by Alibaba. Cross-border ecommerce from overseas sellers into China is also increasing as Chinese consumers demand more imported products and spend more on foreign brands.
The document discusses strategies for retailers to engage with tomorrow's shoppers in a changing retail environment. It outlines three key strategies: 1) Combating new disruptive entrants by reimagining the industry with a focus on future consumers. 2) Providing personalized shopping experiences using new technologies. 3) Creating a digitally integrated enterprise that can respond quickly to changes. Leading retailers will anticipate and exceed customer expectations rather than just meeting them, and personalization will be important for competitive advantage.
Fashion Trends and Business Opportunities in South Korea - SummaryBusiness Finland
The document provides an overview of the fashion market in South Korea, including business opportunities for Finnish companies. It discusses the growing Korean economy and demographics, noting trends toward single-person households and increased online shopping. Major distribution channels like department stores and online retailers are analyzed. The market is segmented into clothing, shoes/bags/watches, and home furnishings. Overall opportunities exist in casualwear, sportswear, bags, and Nordic lifestyle products due to their simplicity and sustainability. Finnish companies should consider online channels and curation services to target younger consumers in South Korea.
2019 H1 China Cross Border E-commerce ReportAdvangent
This document summarizes China's cross-border e-commerce market in the first half of 2019. It finds that the implementation of China's new e-commerce law helped standardize the market. Major platforms like Netease Kaola expanded overseas warehouses and offline stores. During the 618 promotion, shoppers prioritized product quality and authenticity when choosing platforms, with beauty products being the most popular purchases. The report also examines strategies and results of platforms like Dolphin Buy and Aomygod in integrating online and offline services.
A study on consumer buying behaviour at shoppers stopProjects Kart
The document discusses consumer buying behavior and the retail industry in India. It covers several factors that influence consumer buying behavior, including cultural, social, personal, and psychological factors. It then provides an overview of the growth of the retail industry in India, challenges faced by retailers in India, and describes the traditional retail scene in India which is largely unorganized. It outlines the major players in different retail sectors in India and how the retail industry is transitioning from traditional to more organized models.
- The document discusses current and future developments in the Japanese consumer retail market. It analyzes factors like changing consumer attitudes, internationalization of retailers, and challenges faced by traditional Japanese retailers.
- Key trends include rising consumer demand for lower prices, brand marketing, and improved customer service. Japanese retailers need to better manage supply chains and adapt strategies to the evolving market.
- The future of the Japanese retail market in 2010 will see changes like continued internationalization, differences between older and newer retailers, and the need for re-evaluation of retail strategies focused on efficiency, branding and consumers.
1) The rise of the conscious customer will continue in 2018 as consumers increasingly base purchasing decisions on factors beyond price such as ethical practices and sustainability.
2) Customers are demanding more transparency from brands and hold them to a higher standard of authenticity and integrity.
3) As a result, brands and retailers must focus on corporate social responsibility to appeal to conscious consumers and retain talent. Authenticity and good ethical practices are now essential to winning over customers.
Having achieved a market size of Approximately $185 Billion in total apparel sales in 2013, China is expected to become the world’s largest apparel market surpassing the US by 2018. Due to the nearly unlimited potential of the market it offers vast opportunities for foreign fashion brands wishing to develop their international business.
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLSGirish Kumar
This document provides an introduction to a study on factors affecting consumer behavior while shopping at shopping malls. It includes a brief history of shopping malls from their origins in ancient bazaars to modern developments. It also discusses the growth of shopping malls in India and changing consumer behavior towards shopping malls in India, noting that malls now provide a one-stop destination for shopping, entertainment, leisure and dining. The document outlines the table of contents which includes sections on literature review, research methodology, industry profile, findings and analysis, and recommendations.
The Indian retail industry is growing rapidly, with the overall retail market expected to reach Rs. 47 trillion by 2016-17. Retail currently accounts for 20% of India's GDP and 8% of employment. While the unorganized sector still dominates retail in India, organized retail is growing, especially in the food and grocery, apparel, consumer electronics, and mobile segments. However, the industry faces many challenges, including competition from unorganized retailers, availability and cost of retail space, supply chain and logistics issues, and a lack of skilled labor. Successful retailers are leveraging IT to manage inventory and customer relationships.
Analysis of fashion accessories market in india keerthan gKeerthan G
This document provides a business plan summary for Fremina, a proposed fashion accessories brand targeting urban Indian women. It outlines Fremina's target market as women aged 22-40 in metro and tier 1 cities seeking affordable, everyday fashion. It analyzes the growing Indian accessories market and identifies bags, belts, jewelry and eyewear as key product categories. A three-pronged strategy is proposed involving initial low-cost pricing, sales through own stores and major retailers online and offline, and a marketing mix focusing on visibility and customer engagement. A phased launch timeline and revenue projections estimating Rs. 361.7 crores by 2015-16 are presented.
Fashion accessories are decorative items that supplement one's garment, such as jewelry, gloves, handbags, hats, belts, scarves, watches, sunglasses, pins, stockings, bow ties, leg warmers, leggings, neckties, suspenders, and tights.
Accessories add color, style and class to an outfit, and create a certain look, but they may also have practical functions. Handbags are for carrying small necessary items, hats protect the face from weather elements, Laptops provide mobile connectivity and are used to increase work power and gloves keep the hands warm.
Many accessories are produced by clothing design companies. However, there has been an increase in individuals creating their own brand name by designing and making their own label of accessories.
Accessories may be used as external visual symbols of religious or cultural affiliation: Crucifixes, Jewish stars, Islamic headscarves, skullcaps and turbans are common examples. Designer labels on accessories are perceived as an indicator of social status.
Accessories are also available in the form of bracelets, necklaces, earrings, and shoelace accessories.
The choice of consumers differs from one product to another. For example in case of skincare products, the choices are much different because youth under the age of 20-25 have different mindsets for the products because these age groups youth look for costly, from reputed brands. The lifestyle has changed as so the demand has changed. The consumer behavior and thoughts are changes as the time passes. The skincare or say as cosmetics products are highly concerns for female than male, and therefore this research also focuses on female participants a most to understand their choice criterion for skin care products and the value they perceive. The aim of this report is to understand consumer prospective, thoughts and choices while buying the skincare or cosmetics products. The results are obtained using SPSS software as quantitative analysis and conclusion is drawn based on that only. The results show that lifestyle; variety of products, and interest level of skin care products and more has impacted the choices of the consumers under the age of 20-25 in China. The analysis suggests that there have been done enough spending in last 5 years in China which is many folds of the last decades spending for skin care or cosmetics products. The value of choice of skin care or cosmetics products are also discussed and analyzed in the reports, through understanding of lifestyle, the kind of products, income and more factors that impacts the value of skin care or cosmetics products. The obtained results from the survey it is observed that most of the youth have various choices for skin care products depending on their budget, lifestyle, education and occupation. The upper age youth who used the skin care products mostly belong to employment as they need these products highly. The other group who used mostly was prescribed by the doctors. The rest were dependent on the income group and interests to have different choices for the skin care products and brand
The attitudes and behavior of Japanese consumers are shifting dramatically, presenting opportunities and challenges for companies in the world’s secondlargest
retail market.
by Brian Salsberg
from McKinsey Quarterly
The document provides an analysis of the Chinese market for Juan Valdez Premium Colombian Coffee. A team was hired to create a marketing plan to bring the coffee into China. China's coffee consumption has grown at 15% annually, much higher than the global average of 2%, and its population of 1.3 billion people represents a huge potential market. The analysis covers political, legal, economic, cultural, social and technological factors in China relevant to marketing Juan Valdez coffee.
China E-Commerce & Social Media Customer Behavior Overview Andrea Colaianni
China is set to become the largest e-commerce market in the world, reaching $300 billion by 2015. Chinese consumers are younger than Western consumers and have different shopping behaviors. They are price sensitive but high spending consumers seek niche brands. Chinese consumers have less knowledge of fashion but are eager to learn from peer recommendations on social media more than brands. Sina Weibo, with over 300 million users, is a key social media platform where brands can educate customers and engage them through contests and advice to build loyalty.
1) Ecommerce represents a small portion of current FMCG sales but is growing rapidly in many markets. It has the potential to account for over a quarter of global FMCG sales if online adoption increases.
2) Barriers like delivery costs are limiting ecommerce growth but retailers that adopt online strategies gain loyalty and additional revenue rather than losing existing sales.
3) Countries vary in their ecommerce penetration with leaders like South Korea at over 10% while most others are still under 5%; however, global growth rates are over 30% on average.
China's ecommerce market is growing rapidly, particularly in smaller cities, with online sales expected to reach nearly 30% of all retail sales by 2018. Mobile commerce is also rising quickly, with over 90% of online transactions occurring through marketplaces like Taobao and Tmall, which are dominated by Alibaba. Cross-border ecommerce from overseas sellers into China is also increasing as Chinese consumers demand more imported products and spend more on foreign brands.
The document discusses strategies for retailers to engage with tomorrow's shoppers in a changing retail environment. It outlines three key strategies: 1) Combating new disruptive entrants by reimagining the industry with a focus on future consumers. 2) Providing personalized shopping experiences using new technologies. 3) Creating a digitally integrated enterprise that can respond quickly to changes. Leading retailers will anticipate and exceed customer expectations rather than just meeting them, and personalization will be important for competitive advantage.
Fashion Trends and Business Opportunities in South Korea - SummaryBusiness Finland
The document provides an overview of the fashion market in South Korea, including business opportunities for Finnish companies. It discusses the growing Korean economy and demographics, noting trends toward single-person households and increased online shopping. Major distribution channels like department stores and online retailers are analyzed. The market is segmented into clothing, shoes/bags/watches, and home furnishings. Overall opportunities exist in casualwear, sportswear, bags, and Nordic lifestyle products due to their simplicity and sustainability. Finnish companies should consider online channels and curation services to target younger consumers in South Korea.
2019 H1 China Cross Border E-commerce ReportAdvangent
This document summarizes China's cross-border e-commerce market in the first half of 2019. It finds that the implementation of China's new e-commerce law helped standardize the market. Major platforms like Netease Kaola expanded overseas warehouses and offline stores. During the 618 promotion, shoppers prioritized product quality and authenticity when choosing platforms, with beauty products being the most popular purchases. The report also examines strategies and results of platforms like Dolphin Buy and Aomygod in integrating online and offline services.
A study on consumer buying behaviour at shoppers stopProjects Kart
The document discusses consumer buying behavior and the retail industry in India. It covers several factors that influence consumer buying behavior, including cultural, social, personal, and psychological factors. It then provides an overview of the growth of the retail industry in India, challenges faced by retailers in India, and describes the traditional retail scene in India which is largely unorganized. It outlines the major players in different retail sectors in India and how the retail industry is transitioning from traditional to more organized models.
- The document discusses current and future developments in the Japanese consumer retail market. It analyzes factors like changing consumer attitudes, internationalization of retailers, and challenges faced by traditional Japanese retailers.
- Key trends include rising consumer demand for lower prices, brand marketing, and improved customer service. Japanese retailers need to better manage supply chains and adapt strategies to the evolving market.
- The future of the Japanese retail market in 2010 will see changes like continued internationalization, differences between older and newer retailers, and the need for re-evaluation of retail strategies focused on efficiency, branding and consumers.
1) The rise of the conscious customer will continue in 2018 as consumers increasingly base purchasing decisions on factors beyond price such as ethical practices and sustainability.
2) Customers are demanding more transparency from brands and hold them to a higher standard of authenticity and integrity.
3) As a result, brands and retailers must focus on corporate social responsibility to appeal to conscious consumers and retain talent. Authenticity and good ethical practices are now essential to winning over customers.
Having achieved a market size of Approximately $185 Billion in total apparel sales in 2013, China is expected to become the world’s largest apparel market surpassing the US by 2018. Due to the nearly unlimited potential of the market it offers vast opportunities for foreign fashion brands wishing to develop their international business.
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLSGirish Kumar
This document provides an introduction to a study on factors affecting consumer behavior while shopping at shopping malls. It includes a brief history of shopping malls from their origins in ancient bazaars to modern developments. It also discusses the growth of shopping malls in India and changing consumer behavior towards shopping malls in India, noting that malls now provide a one-stop destination for shopping, entertainment, leisure and dining. The document outlines the table of contents which includes sections on literature review, research methodology, industry profile, findings and analysis, and recommendations.
The Indian retail industry is growing rapidly, with the overall retail market expected to reach Rs. 47 trillion by 2016-17. Retail currently accounts for 20% of India's GDP and 8% of employment. While the unorganized sector still dominates retail in India, organized retail is growing, especially in the food and grocery, apparel, consumer electronics, and mobile segments. However, the industry faces many challenges, including competition from unorganized retailers, availability and cost of retail space, supply chain and logistics issues, and a lack of skilled labor. Successful retailers are leveraging IT to manage inventory and customer relationships.
Analysis of fashion accessories market in india keerthan gKeerthan G
This document provides a business plan summary for Fremina, a proposed fashion accessories brand targeting urban Indian women. It outlines Fremina's target market as women aged 22-40 in metro and tier 1 cities seeking affordable, everyday fashion. It analyzes the growing Indian accessories market and identifies bags, belts, jewelry and eyewear as key product categories. A three-pronged strategy is proposed involving initial low-cost pricing, sales through own stores and major retailers online and offline, and a marketing mix focusing on visibility and customer engagement. A phased launch timeline and revenue projections estimating Rs. 361.7 crores by 2015-16 are presented.
Fashion accessories are decorative items that supplement one's garment, such as jewelry, gloves, handbags, hats, belts, scarves, watches, sunglasses, pins, stockings, bow ties, leg warmers, leggings, neckties, suspenders, and tights.
Accessories add color, style and class to an outfit, and create a certain look, but they may also have practical functions. Handbags are for carrying small necessary items, hats protect the face from weather elements, Laptops provide mobile connectivity and are used to increase work power and gloves keep the hands warm.
Many accessories are produced by clothing design companies. However, there has been an increase in individuals creating their own brand name by designing and making their own label of accessories.
Accessories may be used as external visual symbols of religious or cultural affiliation: Crucifixes, Jewish stars, Islamic headscarves, skullcaps and turbans are common examples. Designer labels on accessories are perceived as an indicator of social status.
Accessories are also available in the form of bracelets, necklaces, earrings, and shoelace accessories.
The choice of consumers differs from one product to another. For example in case of skincare products, the choices are much different because youth under the age of 20-25 have different mindsets for the products because these age groups youth look for costly, from reputed brands. The lifestyle has changed as so the demand has changed. The consumer behavior and thoughts are changes as the time passes. The skincare or say as cosmetics products are highly concerns for female than male, and therefore this research also focuses on female participants a most to understand their choice criterion for skin care products and the value they perceive. The aim of this report is to understand consumer prospective, thoughts and choices while buying the skincare or cosmetics products. The results are obtained using SPSS software as quantitative analysis and conclusion is drawn based on that only. The results show that lifestyle; variety of products, and interest level of skin care products and more has impacted the choices of the consumers under the age of 20-25 in China. The analysis suggests that there have been done enough spending in last 5 years in China which is many folds of the last decades spending for skin care or cosmetics products. The value of choice of skin care or cosmetics products are also discussed and analyzed in the reports, through understanding of lifestyle, the kind of products, income and more factors that impacts the value of skin care or cosmetics products. The obtained results from the survey it is observed that most of the youth have various choices for skin care products depending on their budget, lifestyle, education and occupation. The upper age youth who used the skin care products mostly belong to employment as they need these products highly. The other group who used mostly was prescribed by the doctors. The rest were dependent on the income group and interests to have different choices for the skin care products and brand
This panel discussion focused on emerging consumer insights in India. The moderator opened by noting the diversity of consumer segments in India based on factors like age, location, income, and gender. Panelists then discussed trends they have observed like more men shopping for groceries and premiumization with consumers spending more for personal care and food items. The growth of e-tailing was debated, with some arguing it is disruptive but profitability is possible, while others noted consumers still prefer shopping locally from small retailers. The customer of the future was described as caring more about health, sustainability and personalized benefits from loyalty programs. The discussion concluded that integrating online and offline experiences is key to eliminating price differentials between channels.
Kazakhstan possesses a tremendous economic growth potential as the country continues its
transition to a market economy. However, despite huge potential, Kazakhstan has not been able to develop a
competitive economy. One of the main causes is that there are few
Rethinking Business Operation in DT Age ——Jet Jing, Vice President, Alibaba G...Simba Events
Jet Jing, Vice President of Alibaba Group, discusses opportunities for innovation in the digital age. As the mobile internet changes consumption behaviors, product lifecycles are shortening and consumers are becoming more fickle. Jing argues that to capitalize on new opportunities, companies must innovate their products, organization structures, and channel management capabilities. Alibaba's ecosystem of 500 million monthly users provides data that brands can use to better understand target audiences and develop innovative products aligned with consumer needs and behaviors.
This document provides a group project report for a marketing management course. It includes an analysis of the restaurant industry covering topics such as the economy, laws and regulations, costs, competition, and technology. It then presents the group's proposed restaurant concept called La' Giardino, including its mission statement, SWOT analysis, target market, marketing goals, and marketing mix strategies. The key details are that the group proposes an Italian garden-themed restaurant targeting upper and middle-income families in the Shahrai Faisal area of Karachi, Pakistan with competitive pricing and a focus on fresh, healthy foods.
Strategies to Help CPG Companies Win in Chinaaccenture
Accenture’s latest study reveals consumer insights and strategies that can help accelerate growth for CPG companies and Retailers in China.
The profit rates of CPG companies have been declining in China recently, but by understanding the changing Chinese consumer, and adjusting their strategies to best serve consumer needs, CPG companies can drive growth in the country.
For more information view us on http://www.accenture.com/ConsumerGoods
The document provides an overview and outlook of Indonesia's FMCG industry through 2024. It discusses trends seen across various sectors including consumers prioritizing essential needs, downsizing purchases in some categories but spending more on premium products in others. Younger generations are important drivers of growth and prefer novelty. Strategies for brands should include providing value, leveraging increased mobility post-pandemic, and engaging digital native consumers. The outlook projects 5% value growth in 2024 for FMCG overall.
The document discusses innovation in the Indian FMCG (fast moving consumer goods) sector. It notes that FMCG innovation is critical for companies to remain competitive in India's mature and crowded market. It defines different types of innovation from incremental to breakthrough to radical. It also discusses how FMCG innovation differs between India and China, with Chinese consumers and companies being more open to online channels and mobile commerce. The document concludes that for FMCG companies, innovation is needed to drive growth, increase market share, and meet consumers' evolving needs and tastes.
The document discusses a project aimed at developing tools to help companies influence consumer behavior and encourage sustainable consumption in emerging markets like Brazil, by understanding factors that influence consumer decisions and identifying effective ways to promote sustainable habits and lifestyles. It provides background on challenges of changing consumer behavior, discusses relevant consumer behaviors in sectors like consumer goods and retail, and presents a case study of a Unilever campaign in Turkey that successfully promoted more sustainable detergent use.
The document discusses strategies for a men's personal care brand to become a preferred and fast-growing brand in its category by 2024. It aims to have a futuristic product portfolio at competitive prices. Key strategies include becoming a consumer-oriented company, targeting mid to premium markets, increasing brand awareness, expanding into new markets, boosting footprints and promotions, strengthening digital presence, and effective communications. The brand looks to enter modern trade, OTC, and commercial channels in the first quarter of 2021 while onboarding indirect and direct dealers in mid-2021.
CODE allows for collaboration in the retail industry by bringing self expression and customization to the customer. The ability to create and or have a say in your favorite retailers upcoming line is what will redefine how we interact and view retail.
This document discusses the changing nature of advertising over time and the need to adapt techniques to remain effective. It notes that while advertising was once very impactful due to lack of competition, rising competitiveness required shifting from sales-focused to market-focused approaches. Modern advertising faces issues of declining ability to monitor impact and maintain audience attention. The document argues advertising must focus on creating useful, interesting content for audiences rather than just product promotion to regain effectiveness in today's information-overloaded environment. New digital platforms allow more creative, audience-focused advertising that provides value.
Nielsen Global Retail growth strategies reportBrand Camp
1. The document discusses how retail is evolving away from the "bigger is better" model, with small store formats now driving growth in many markets.
2. It highlights several consumer trends influencing retail preferences, such as rising middle classes, urbanization, and changing millennial attitudes. Consumers are seeking more convenient, customized shopping experiences.
3. Grocery shopping is seen as a chore by 46% of global consumers surveyed. Retailers need to better understand consumer needs to improve the shopping experience.
Sales promotions are an important element of marketing for fast moving consumer goods (FMCG) companies. This document discusses the role and effectiveness of sales promotions in the FMCG sector. It finds that price discounts and buy-one-get-one-free offers are very effective at attracting consumers. Television is the best media for promoting FMCG products due to its wide reach. Consumer preferences, like desiring more quantity at lower prices, influence the types of sales promotions that are successful. The conclusions are that sales promotions increase short-term sales and trial rates, and FMCG companies should consistently change their promotional strategies and offers over time.
Relationship Between Money And Happiness EssDustin Pytko
HelpWriting.net provides writing assistance services. Users can create an account, submit a request with instructions and sources, and choose a writer to complete the paper. Writers bid on requests and users can choose a writer. The user receives the completed paper and can request revisions if needed. HelpWriting.net guarantees original, high-quality content and refunds are offered if papers are plagiarized.
This document discusses e-commerce trends in packaged goods (FMCG) globally and by region. It finds that while e-commerce is growing steadily overall, rates of adoption vary significantly between countries. Asia has seen the most rapid adoption, led by South Korea where nearly 100% of younger consumers shop online and e-commerce accounts for 16.6% of FMCG sales. China also has very high rates of online shopping. In contrast, e-commerce remains less developed in the US and Latin America. The document examines factors driving different levels of online shopping adoption around the world and predicts that e-commerce will account for 9% of global FMCG sales by 2025.
The document summarizes key findings from a study on the influence of magazine brands on home interiors and technology purchases. Some of the main findings include:
1) Exposure to magazines significantly impacts consumers' shortlists, with up to 91% changing the brands on their shortlist for home interiors and 88% for technology.
2) Magazines are also found to help reduce consumers' shortlists, with up to 61% of home interiors customers and 55% of technology customers shortening their list after magazine exposure.
3) Printed display advertising in magazines is particularly impactful for certain categories, making kitchen brands 28% more likely and bathroom brands 43% more likely to become a preferred brand.
1. Omni-channel marketing is necessary for brands in China due to the collision of e-commerce and brand building in the large Chinese market where consumers make frequent online purchases but are also developing brand loyalty.
2. The consumer segment targeted by omni-channel marketing includes Chinese millennials who favor experiences that allow self-expression and trust recommendations from friends over brands. They are also strong influencers of friends and family and take actions offline based on what they read online.
3. Designing brand experiences for omni-channel marketing should leverage big data insights about millennial social and spending habits to drive social e-commerce and make social content a key factor in brand preference and buying decisions.
Similar to Address from Conference Chairman ——Veronique Yang, Partner & Managing Director, The Boston Consulting Group (20)
On-Stage discussion: Is precision Marketing a Pseudo-Proposition?Simba Events
The panelists discussed precision marketing and whether it is an effective strategy. Vincent Lee argued that precision marketing, using big data analysis and targeting consumers, can help achieve digital marketing and company growth goals. However, Ronnie Chen believed technology and creativity should be combined, not viewed as distinct, and used data from a camera brand to develop more creative campaigns. While precision marketing aims to target the right consumers, the challenges are a lack of data sharing between platforms in China and proving the value and return on investment of marketing strategies. Both panelists agreed that combining data insights with creativity can lead to better results, but developing quality products remains essential for long term success.
Bugs Crawling to the Supermarket Shelves - The New World of Insect-Based Cons...Simba Events
Bugs Crawling to the Supermarket Shelves - The New World of Insect-Based Consumer Packaged Goods (CPG)
—Massimo Reverberi, Founder, Bugsolutely
Susie Liu, CBO, Pesign
Foodservice Sector: A Catalyst for Innovation ——Marie-Pierre Membrives, Foods...Simba Events
This document discusses opportunities for innovation in the foodservice sector. It notes that foodservice encompasses a wide range of establishments from street vendors to high-end hotels. The foodservice industry is changing as different categories adapt to new trends, requiring constant innovation. Some key factors that can help foodservice businesses improve competitive advantage include focusing on food quality, developing a clear business identity, and maintaining a clean and attractive environment. The document also examines trends in the Chinese foodservice market and opportunities to better meet consumer demands around food safety, customization, and health. Overall, it argues that digitization, changing consumer preferences, and a focus on sustainability present many possibilities for innovative new approaches in foodservice.
The Sil Lum Tao of Innovation ——James Andrade, Former VP Research Developme...Simba Events
The Sil Lum Tao of Innovation
——James Andrade, Former VP Research Development & Quality, Mondelez International; Adjunct Professor, Griffith University
Do Food Tech Startups Have the Recipes for Consumers of Tomorrow —Joseph Zhou...Simba Events
1) The document discusses opportunities for food technology startups in China, including addressing issues like food safety, health, and sustainability.
2) It notes consumption upgrades are driving demand for higher quality food products. Technology is poised to be a disruptive force in the food industry as it has been in other sectors. Emerging areas like alternative proteins and insect proteins could see applications in China.
3) The author believes there are significant opportunities for food startups in China to address issues of food safety, waste, and access through innovative applications of technology.
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The Intersection of Real Food and Snacking
——Craig Stephen Slavtcheff, Global Vice President, R&D, Global Biscuits & Snacks Division, Campbell Soup Company
Ausnutria’s Efforts to Goat IMF ——Yan Weibin, Chairman, Ausnutria Dairy Corpo...Simba Events
1) Ausnutria aims to produce high-quality goat dairy products up to the standard of Australian dairy. It has pursued an internationalization strategy involving acquiring supply chains in the Netherlands and cooperating with companies in Australia and New Zealand.
2) The company sees goat milk as having nutritional advantages over cow milk and has invested in clinical research and regulatory approvals internationally.
3) Ausnutria has built a global supply chain and distribution network for its goat milk products. The Kabrita brand in particular has grown rapidly in China and global markets due to Ausnutria's investments and market positioning.
In the times of consumption upgrading, how does yogurt deliver the factor of ...Simba Events
In the times of consumption upgrading, how does yogurt deliver the factor of “enjoyment”?
——Sun Yingbei, FIS China Application Center Manager, FS Product Manager for CTS AP, Cargill Asia Pacific Food Systems (Beijing) Co., Ltd.
Prospecting the Future of Chinese Infants’& Adults’ Nutrition Products under the New Policy.
——Jack Zhang, Chief Editor, Food Gnosis Media Group
Yan Weibin, Chairman, Ausnutria Dairy Corporation Ltd
The document summarizes discussions from an on-stage panel about fermented milk products. Panelists from different countries and industries discussed topics like the fermented milk market in Argentina, using soybeans to produce fermented milk, testing of probiotic claims on product labels in New Zealand, the effects of probiotics on health, and producing low-lactose fermented products. Panelists shared insights from their research and experience with developing and testing fermented dairy products in their respective markets.
Innovation Trends from Carton Package Design Perspective-henry yu & ying wuSimba Events
1. The document discusses trends in carton package design from Tetra Pak's perspective, including geometry/minimalism, handcrafted culture, and nature-inspired designs.
2. It provides examples of package designs that exemplify these trends, such as a tomato juice package that uses bright colors, handwritten text, and a checked fabric pattern to convey humanity.
3. Additional trends discussed are high-end customization inspired by the night and gems, and Tetra Pak's development of longer-shelf-life, easy-open, recyclable carton packages to meet evolving consumer preferences.
Studying and Interacting:The Food's New Clothes ——Artem Movsesyan, Partner, NeomSimba Events
This document discusses the importance of packaging design in influencing consumer behavior and perceptions of food brands. It explains that packaging design needs to appeal to both the emotional and rational parts of the brain. Effective design draws on principles like "food appeal" to make products look appetizing and familiar to customers at a glance. Conducting shelf tests is important to ensure the packaging design allows a product to stand out to customers in the short time they browse store shelves. The goal is to create packaging that communicates quality and builds brand identity through visual elements like logo, images, and color in a culturally sensitive way.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
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Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Address from Conference Chairman ——Veronique Yang, Partner & Managing Director, The Boston Consulting Group
1. Address from Conference Chairman
— — Veronique Yang, Partner & Managing Director, The Boston
Consulting Group
Last year, the theme of my speech was the future growth, the market had
entered a relatively weak state, so we concerned more about if there
would be growth in Chinese market especially Chinese consumer market.
We shared the 2010-2015 report on development of Chinese consumer
market, jointly written by Boston Consulting Group and Ali Research, and
pointed out that considering the base stock of Chinese consumer market,
a growth equal to the volume of Japan or Germany can be assured in 5
years in spite of the overall slowing consumption and growth of the
market. The key is that Chinese market has entered a polarized phase,
2. which we call double speed growth, driven by various forces, such as the
upper middle class, the 80s and 90s, the e-commerce and services. These
are new drivers of growth. Back to today, although we all know that there
are good prospects and new drivers for growth, for most consumer
companies, these two years are tough. Only a few can achieve a
double-digit growth. How such situations occur? What are challenges for
our market? How should we do to deal with today’s challenges with
innovation and transformation?
First, with a set of data, let’s see the consumer market growth in the
past few years. We can find growth in amount is very limited, with a
growth rate lower than 5%. The main driver of growth is the price, or
consumption upgrade. From the consumption upgrade, traditional
categories now all have a very slow growth rate, most of which have
been under 10%, or even 5%. Why? Mainly because the penetration rate
3. has already been very high, or it is the category itself does not meet
consumers’ expectations, such as not very healthy, not very nutritious,
or does not provide additional excitement for consumers. In addition, for
either vanguards of each category or large cross-category companies,
sales of these two years were not pleasant. Through further research on
development of the entire consumer market in different cities and of
different levels, we found five years ago, lots of progress was driven by
the expansion of low-line market. As what Mr. Ma (Stephen Maher) of
Mondelez has mentioned, the past mode was making the product,
through channels and ads, we can take the yields. However, such simple
penetration has almost finished, now the competition lies in how to
attract consumers to choose your products rather than your
competitors’. So the key competence has been shifted to consumption
upgrade, which first occurs amid the upper and middle class in first and
second tier cities. But such consumption upgrade will spread to mid-line
cities gradually as consumer goods popularized in the past, which
requires a process. The consumption upgrade trend has posed a great
challenge to companies.
4. Channel is another challenge. In these two years, patterns of big retail
and supermarket are mostly squeezed. Supermarkets only have a growth
rate of 5%. Only e-commerce maintains a fast growth rate, and the next
is small retail businesses, such as convenience store and small shop.
Besides, there are another two fast growing channels. One is of
specialization. Such as shops that specialize in babies and children, or
cosmetics or personal nursing products. For these specialized shops,
which provide lots of services besides selling products, the growth is
relatively strong in the overall decline of the big retail. The other is the
services channel. In the past, service and the sale of product are widely
divided. Though products consumption in service sites is not so big, as
more and more consumers come to service sites to spend their leisure
time, it is important and popular for products entering these sites. At the
same time, new services channels are emerging, such as schools, gyms,
5. even libraries, all of which give access to our sale. Why big retailers are
squeezed? There are two reasons for that. On the one hand, e-commerce,
with great convenience and cheaper prices, has a huge impact on it. On
the other, as consumers demand a higher level of convenience, they are
less willing to walk a long way for products with little cheaper price, while
small shops, which provide them with quick and integrative services, are
greatly welcomed. How will companies redesign the sales mode and
market groups as the growth of supermarkets which used to be our main
sale channel slow down? This is another challenge for companies.
For enterprises, how to deal with these challenges? How to seize the
chances within these challenges?
We think there are two innovations.
The first is the product & marketing innovation. The second is the sales
mode innovation. Without the two innovations, we cannot get further
growth in such a competitive market.
The most important point of product and marketing innovation is to
understand consumers. First, we should know their demand mode, next,
6. discover the emerging consumers and redefine products’ consumption
space and groups so as to adjust the design and services according to
the needs. So which emerging groups deserve our focus? There are
mainly the following categories.
1. The elderly
There is an example of mine. Yesterday, when I returned home, my
mother-in-law told me about her old friend, who sold the house and was
planning to have a one-year world tour, with a wish of looking at places
she has never seen before. My mother-in-law was moved a lot,
immediately making a reservation to Southeast Asia on May Day for a
trip. The entire consumption group used to have more youngsters or
those over 35 with some savings, who have relatively bigger spending
power or are willing to pay. Now, some elder people are very glad to
spend money for last life experience rather than save it in the bank, and
pass it to their later generations.
2. Young Men
We have discovered that 40% young men especially those in first and
second tier cities read about cosmetics and personal nursing. So men
have increasingly high demand for their appearance and consumption.
3. Single people
7. It is reported single people over 35 exceed 20% of China’s population.
This percent is approaching to those of Japan and other countries.
Consumption mode of single people is very different. For example, in
Japan, lots of products and services are designed for single people so
that they can enjoy the products and services without being disturbed
and discriminated. So products targeting single people are also
promising.
4. People hoping to be masters
Some may want to be a marathon master. One or two years ago, it is
hard to get a marathon ticket. Some people want to become a
photographer or a baker. So classes for baking are rising. We can see
that lots of consumers want to cultivate their interests and become a
master in a certain area. Products designed for these people will bring
new growth.
5. Virtual groups
Digital also brings its impact on our lives, with new consumers in two
dimension world, virtual reality and virtual society. These new consumers
invest most of their time, emotion and consumption on the Internet. This
group of people can make for further growth of companies.
8. However, we should pay attention to the fact that the consumption
patterns of these new groups are different from those of the past. It
requires us to create a corresponding consumption scene to handle
these emerging groups. Specifically, we should master the characteristics
of consumer groups as a whole, and what desires and needs should be
met at the moment of consumption. For example, when we helped our
customer in snacks marketing, we found there were two levels of
consideration in figuring out the driving factors behind the consumption
of snacks. The first level is the most important, which is considering if he
eats alone or eating outside with others. The second level is, if he eats at
home, when does he probably take snacks and whether he has
nutritional requirements? If he eats out, who will he spend time with? So
enterprises need to design their products according to different
consumption scenes. If a consumer loves eating snacks alone at home
9. for more energy, at the same time, caring about nutrition, the snacks
should be of more nutrition and good taste. And for someone who just
wants to have something to chew and get a sense of satisfaction, without
caring about nutrition and its impact on health, the taste is more
important. In addition, the design is not only on the product itself, but
must be combined with marketing and the final form showing to its
consumers. Because the message that conveyed to consumers will be
distorted if there is only product innovation with no marketing and
channel innovation combined.
Second, form the perspective of sales mode, sales mode innovation
requires marketing to fund for future growth rather than only serve as a
growth engine as before. So the key is how to optimize the sales
management, improve the efficiency and save funds for new channels
and products. How to do this?
There are two steps, the first step is what we often say, the fine
management. The fine management is reflected in the price control, the
optimization of the marketing cost and the sales management.
Specifically, we can make some fundamental changes in sales pattern
and structure, such as taking the flat management, reducing levels and
10. strengthening the control of the lower distributors. The second step is to
employ technologies, such as the B2B mode of Ali, Jingdong and other
e-commerce. Besides, we can make full use of the data to open up
relations between dealers and retail, and manage the team with data.
The last is organizational changes, which is to create our sales groups
based on channels rather than distribute according to categories. In this
way, during the market expansion, we can improve our efficiency and
open the market.
In the end, let me make a simple conclusion. We should maintain
confidence in the development of consumer market. The growth rate of
the entire market may not go back to double digits very soon, but as we
gradually take the growth mode of developed markets, there will be
more opportunities of product marketing and sales innovation. In this
11. process, we believe that companies that can grasp the innovation
opportunities will lead the competition and win a place in the market.