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KUALA LUMPUR (Bernama) – Malaysian businesses already selling to China have identified the importance of having both a physical and an online presence to reach their target consumers.
According to HSBC's Navigator: Made for China survey, the strategies most commonly used to access the Chinese market are developing local distributor networks (62 per cent), entering into joint ventures (60 per cent) and selling directly via e-commerce and m-commerce (58 per cent).
The survey explores the intersection of international businesses' growth ambitions with China's increasingly affluent and discerning consumers. In Malaysia, 100 companies were surveyed.
“Businesses in Asia-Pacific and North America in particular see e-commerce platforms as key to connecting with consumers,” it said in a statement today.
The top three challenges for Malaysia companies considering selling in China are competition from international companies (39 per cent), adapting to Chinese tastes, and lack of market knowledge (both 35 per cent), according to the report.
Meanwhile, it said businesses are looking to overcome these challenges by improving their own distribution network or distributor relationships (42 per cent), setting up local partnerships (40 per cent) and increasing the usage of e-commerce platforms (38 per cent).
-BERNAMA
