I am pleased to have been invited to write articles for “Inside FMCG” magazine on the opportunity for companies in Australia’s FMCG (‘fast moving consumer goods’) industry to do business in the world’s second largest economy and fastest growing consumer market.
Amongst all the lessons we’ve learnt so far during this Covid period, it’s highlighted the importance of having a fully formed China strategy to support your business activities in China, rather than a series of tenuous relationships with distributors and e-commerce consumers which can quickly disappear when the going gets tough.
As often mentioned, relationship-building is critical and I emphasise this in my July article: “despite the importance of developing a compelling online presence, China still does business the old-fashioned way, which requires new foreign entrants to spend time and effort developing local relationships with distributors, influencers and advocates on the ground. Developing long-term personal relationships with local business partners who you can trust and depend on to promote your brand and represent your best interests in China, is as important today as it ever has been”.
In my next article (September), I’m planning to explore the work that goes into “articulating a value proposition which includes some unique messaging around ingredients, sourcing, supply chain, technology, tracing, processing and other product attributes”. More to come on this.