China’s national sportswear champion, Anta, has set its sights on becoming the country’s new market leader. Will it be able to knock out the likes of Nike and Adidas to reach its goal?
Chinese startup Luckin Coffee is expanding at a breakneck pace. How will Starbucks and other coffee players respond? Starbucks had coffee lovers in China’s main cities wrapped up until Luckin arrived, but is the market big enough and growing fast enough for both and more coffee vendors?
More domestic brands appearing on store shelves may indicate that the golden days for foreign brands are slipping away. “Made in China” was once considered a sign of cheapness and low-quality, but the belief now has changed. Chinese consumers now think that Chinese brands are equal to, or even exceed, foreign brands. As buyer confidence grows and domestic quality improves, what can multinational brands do to regain ascendancy?
If you think ‘Made in China’ is always associated with cheap and low quality goods, think again. DJI—the first choice for any drone fan—is headquartered in Shenzhen and dominates 70% of the consumer drone market globally; Huawei, the telecommunication company that developed its first branded smartphone only five years ago, has already become the third largest player in the sector with a 9.4% market share worldwide, behind Samsung and Apple. In this interview, Doreen Wang, author of the BrandZ Top 30 Chinese Global Brand Builders report, makes sense of China’s “glocalized” brands and the bumpy roads they may face in the future.
Storytelling is one of the most important skills for leaders to learn, because their job is to gain trust, and to persuade and influence people. Today, a number of consultants offer services that teach storytelling to executives or help them develop stories for internal or external consumption. A good story is a memorable way to make a point. And by engaging the emotions, a story makes it easier to persuade or motivate the listener. Stories can fulfill several roles for an organization. Founders’ stories, for instance, can be especially useful in giving people a sense of their company’s identity and in shaping the company’s culture.
With new innovations taking place every day, we have entered an era where industries and companies are increasingly at risk for disruption and job security is much less than it was in the past. One way to safeguard your professional life is to develop a strong reputation to fit in with the changing market. However building a public reputation is never easy: finding your uniqueness, how other people think of you and what to listen to can all become barriers to self-promotion. In this interview Dorie Clark, the author of two popular personal branding books, explains a step-by-step approach for individuals who are interested in creating their personal brand.
China’s apparel market is now one of the fastest growing markets in the world. Euromonitor statistics show many foreign brands doing well: Uniqlo currently holds 1.6% of the market for specialist apparel; and Danish company Bestseller Fashion Group China, which operates brands like Only, Jack & Jones and Vero Moda, is holding 2.3% of the market share. Where are the local apparel brands? VANCL, a Chinese ecommerce clothes retailer, is almost a forgotten name. It used to have a 4.5% market share in 2011, but its dream of IPO lie in ashes—how did the once mighty retailer become China’s diaosi (loser) brand?
In today’s busy workplaces people have bigger departments, more turnover, and operate in an environment of continuous change, which means that management has less time to get to know you and your capabilities. If you want to get ahead, coaches and other talent management experts say, you can’t wait for your boss to nurture you. Instead, you need to invest more time both developing your own capabilities and making sure decision-makers appreciate your talents and see your potential. How do you build your career and ensure you get the chances you deserve?
These days, corporate value is based not only on what you sell, but who you are: in a 2016 global study by Edelman, 48% of consumers said they won’t buy from a company they distrust but 37% said they will pay more for a product from a company they do trust. Unfortunately, becoming one of these admired companies is not easy. A great reputation doesn’t just appear by magic simply by behaving honorably and doing good work. So what facets are needed to build a respected corporate identity?
Between rapid technological change and global competition, it’s becoming harder for anyone selling a product or service to maintain a competitive edge–especially when that product is more or less the same as everyone else’s. But companies with products caught in this trap have more options than they realize. Even if you can’t win by being the cheapest or the best, you don’t need to simply resign yourself to commodity status. Creating a consumer brand for the industrial commodity, branding the product in a way that makes it familiar to the users, and sometime even raising price can be a positive differentiator.