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Are Chinese consumers still crazy about international brands? [Copy link] 中文

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Post time 2018-9-17 13:32:49 |Display all floors

(Bloomberg) Move over Apple and Nike. Chinese phone maker Huawei and food delivery giant Meituan Dianping have replaced you as some of China’s favorite brands.

The once-coveted brands of multinationals are losing ground to local companies in the world’s most populous country, according to a new report on the country’s 50 most relevant brands.

Chinese brands now take up 30 of the 50 slots, with online payment operator Alipay, owned by an affiliate of Alibaba Group Holding Ltd., at the top. That’s a big change from 2016 when only 18 local names made the top 50 brands in the survey by consultancy firm Prophet.

“Chinese brands have been better at leveraging social media to reach out to shoppers in China,” said Catherine Lim, a Bloomberg Intelligence analyst. “There’s a stronger buzz.”

The survey asked 13,000 Chinese consumers to rank brands that are innovative, practical, customer-focused and inspirational, according to the report.

Meituan Dianping broke through to the top 10 for the first time. The Chinese food review and delivery giant is said to have raised about $4.2 billion after pricing shares that will begin trading Sept. 20, Bloomberg reported. The company has attracted investment from Hong Kong billionaire Li Ka-shing, the territory’s richest man.

The survey could point to more trouble for Apple Inc. in China, its second-largest market after the US. The Palo Alto, California-based company has struggled there as domestic rivals like Huawei Technologies Co. and Xiaomi Corp. gain in popularity.

In China’s biggest cities, the mystique of the foreign brand is fading, said Benoit Garbe, a Prophet senior partner in Shanghai. “Consumers are getting more sophisticated,” he said. “We are seeing local brands — the good ones — popping up as more relevant.”

Many other big Western brands were booted off the top 10 list favored by Chinese consumers this year. Nike Inc. tumbled to No. 44 while Luxury carmaker BMW AG fell to No. 46. Estee Lauder Cos. dropped to No. 22, though it remained the top-ranked label for cosmetics.

Home-furnishing retailer Ikea of Sweden AB, fourth on last year’s list, didn’t make it among the top 30 this time.

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Post time 2018-9-17 13:33:06 |Display all floors

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2018 Most Popular Member 2018 Most Popular Member 2016 Most Popular Member Medal Gold Medal

Post time 2018-9-18 09:19:15 |Display all floors
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Post time 2018-9-19 11:21:19 |Display all floors
Wonder if my favorite brand LaoGanMa (a spicy sauce) is on the list.

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Post time 2018-9-23 20:09:23 |Display all floors
I am afraid that customers must pay extra money for these so called ‘famous brand goods’!  For ordinary citizens, normal products are good enough for their needs those can save many banknotes!
Childish pure  mindset can simplify your life which let you live in a light way! Without man-made troubles you will work in high efficiency!

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Post time 2018-9-24 12:44:44 |Display all floors
SEARU Post time: 2018-9-23 20:09
I am afraid that customers must pay extra money for these so called ‘famous brand goods’!  For ord ...

'normal' goods or fake versions of luxury brands.....

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Post time 2018-9-24 14:56:24 |Display all floors
BlondeAmber Post time: 2018-9-24 12:44
'normal' goods or fake versions of luxury brands.....

re:  "luxury brands."

  China should tax them 10,000%...

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