Most business leaders understand the bargain China has when it comes to manufacturing and supplying goods for markets all over the world, but not talked about enough are the products manufactured solely for domestic consumption. These products are all very interesting, but have not been a part of the global international culture as plastic ware, clothes, and manufacturing products have. All of the products and services we will list today are very interested, and after a few years, could become internationalized, becoming a standard in homes worldwide, only a few marketing campaigns away…
1. Baijiu, China’s Rice-Wine Intoxicating Spirit
Baijiu is known in the expatriate community in China as the most potent alcohol one could buy in any supermarket. The alcohol content varies between 40% and 60%, demanding a new meaning to “drink with moderation.” There are many brands, mostly toting their potency and place of origin as their selling piece. “This baijiu is from Guizhou, it is pure and drinks very smoothly.” Domestically, baijiu is marketed toward middle aged men, as most business deals, agreements, weddings, family parties, etc. revolve around eating meals, and at those meals, baijiu is present. Many brands in China are looking toward the west and international markets, like the most well-known brand in China, Maotai. There still remains many cultural barriers that keep people in the west from buying Baijiu. The biggest cultural difference is how Chinese and countries like the US drink alcohol. In China, everyone drinks together during their meal, while in the US, some people drink a few glasses while eating, but most people drink the most after eating. Essentially, drinking in China is somewhat ceremonial, while in the US is mostly recreational.
2. Well developed e-commerce platform
In countries like the US and Australia, for online payment many of us use paypal or our credit card. In China, many people use a service called “Zhifubao”. Zhifubao is a lot like paypal, you can link your credit card and name to a number and use it to pay for things you can shop for online. Recently, though, many restaurants and stores in China have begun to accept Zhifubao. The way it works is customers download the zhifubao app, log in and verify, and then can use a QR code to pay for their items. The process is very quick and hassle-free, but many have expressed concern over payment safety; can this service’s safety be breached?
Feel free to leave any comments about your experience with either of these products/services. CNBizCheck wants to help businesses around the globe feel safe when doing business in China, and the first step is toward understanding the market in China. We hope this type of blog is helpful to our clients and look forward to more discussion about China and international trade.