(3rd post based on an interview to Vladimir Djurovic, LabBrand owner/founder- Labrand provides market and consumer research, brand strategy and creative services)
Vladimir Djurovic’s company, LabBrand, does plenty of research in the Chinese market, so I asked him what his views were on recent market trends in China that entrepreneurs would find interesting. These were his exact words:
“China: Five trends to monitor on four vital axis for brands:
-On Culture and Behaviour:
TREND # 1: Growing need for professional training solutions for service industries like catering, hospitality, etc…. How come this is still not yet there in China? It is time to open schools/academies and train your people!
– On Communication and Design:
TREND # 2: Branded applications for Mobile platforms (Ipod/ Android) – it is going to surge in the coming months and huge opportunities exist for brands and also for developer/content providers
– On Product and Services:
TREND # 3: One hot topic for the next decade in China : Medicines/ Pharma industry
– On Market and Consumers:
TREND # 4: Rise of the elderly Chinese spending – I was yesterday checking the opening of a high end retirement home in the suburb of Shanghai ( yes I know this is super glamorous!!) and I believe this is just the beginning of a lasting trend.
TREND # 5: Watch for more Online shopping especially in the luxury or high end segment.”
What interesting trends have you identified out there?
Yesterday I attended a business lunch hosted by AmCham Shanghai where the guest speaker, Tom Doctoroff, JWT´s North Asia Director and Greater China CEO, delivered a presentation about strategies for marketing to seniors in China. So, if the elderly population is your target, you will find bellow some themes/communication strategies that could help you reach them.
From the perpspective of the “possibilites of me”
1. “Olden is Golden”
Strengthen their roll in society by celebrating seniors´ wisdom
2. “Forever Young”
Shift communication from worry-based protection (currently overused) to life-enhacing liberation
Provide permission to bite into the forbidden fruit (they are savers! so feel guilty about spending)
3.a. “Justify the treat”
3.b. “Timeless Value, Timeless Joy” (Old fashioned values as a way to provide future happiness)
From the perspective of “reinforcement of we” (important in a culture like China where individualism is not encouraged)
4. “Tighten Family Bonding”
Reinforce the ties that bind the clan, basic building block of society
4.a.”Lubricate inter-generational communication”
4.b.”Let Grandparents Raise the Cherished Dumplings”
5. “New Friends, New Communities”
Where the brand establishes new platforms for social bonding
6.”Forge China Pride”
Empower the mature to continue building a glorious nation.
If you are interested in reading further about this topic, you can also read Doctoroff’s post titled “China’s Senior Market: Grey Today, Golden Tomorrow” where he explains in further detail all these themes.