An In-Depth Look at the Chinese Health Supplements Market in 2020
To welcome in the new decade, we at TMO Group have prepared a report that takes a deep dive into the health & food supplements industry in China, examining the state of the industry at the end of the past year and looking to its future as we enter into the millennium’s third decade.
To do so, we didn’t just gather data from trusted sources and prominent research organizations. We also did our own first-hand investigations on the country’s leading eCommerce platforms. If you need hear no more, then you can go grab the report right here, right now, and free of charge. But if you want to learn more, don’t go anywhere!
A Wealth of Data
Throughout the free report’s 50 pages, we present a wealth of data from numerous sources. We filled our report with charts, tables, and graphs, to present you with all the relevant facts. While not exhaustive, our data should enable overseas companies to get a feel for the state of the industry today.
As part of our research, we didn’t just stop at talking to industry insiders or obtaining data from trusted providers such as Statista. We went a step further, by investigating sales data and search results on leading eCommerce platforms. Our focus was on Alibaba’s Taobao and Tmall Global, as respective examples of domestic and cross-border platforms.
Consumers, Competitors and Cross-Border eCommerce
Some chapters in the report focus on taking a closer look at the industry from specific angles. In the Chinese Consumer chapter, we draw up a profile of the modern health products buyer in China. This is no small task with such a huge and varied population! We took a broad look at demographics, consumer behavior, and attitudes to foreign products in this industry. By doing so, we hope to help you see how these buyers differ from those you may be used to.
In the Competitive Environment chapter, we look to the brands that perform well in China. This includes both domestic enterprises and overseas companies. Using real sales data gathered by hands-on research, we look at how some brands perform on specific platforms. To reinforce this we also referred to more wide-reaching data from publicly released figures from research agencies.
Cross-border is one of the most compelling options available to overseas brands hoping to sell to China. In recent years, China has rolled out tax incentives and relaxed legal restrictions in this area. Additionally, the country has opened up of new zones to facilitate cross-border eCommerce. Because of these moves, this option has become more attractive than ever. We devote a chapter to this exciting approach, filling you in on all the broad-strokes you should know.
Channels to Entry
One of the interesting parts of the market to look at in China as it develops is how the different available sales channels have shifted in popularity significantly, even as the market remains in its relative infancy.
Traditional sales channels such as supermarkets and pharmacies are giving way to the resurgence in direct selling and the dramatic rise of online sales. In a dedicated chapter, we look at each of these channels in turn, how they are performing, and how they may do in the coming decade.
Additionally, we provide a template roadmap that takes you through an example market entry and expansion process, to give you an idea of what market entry might look like for your company.
Of course, no two companies are the same, and a personalized strategy can offer a lot more — if you’re interested in putting together a unique market entry strategy tailored to your company’s particulars, contact us about our consulting services.
If you’d rather start with the more general introduction provided by our industry report, then what are you waiting for? Grab your free copy today!
