KUALA LUMPUR, March 19 (Bernama) -- Euromonitor's White Paper discussion entitled "Cities in China: Economic and Consumer Dynamics for Successful Business" reported that China has devoted itself to an evolving growth structure by expanding domestic consumption and investment.
The increase in per capita disposable income has promoted urbanization, creating more balanced development between urban and rural areas, said Euromonitor in a statement issued today in Chicago, the United States.
However, in order to best capitalize on growth, Euromonitor suggests companies should create territory strategies to connect with potential consumer bases.
Euromonitor has analyzed the business environment and consumer trends by cities in China, developing tiers for each. These tiers highlight the economic and demographics of each city, making it easier for businesses to identify their target market.
"Companies such as Starbucks plan to have a total of 1,500 outlets by 2015 and many of the new openings will be in Tier 3 and lower areas.
"However, five years ago around 70 percent of their company's 400 total outlets were located in Tier 1 cities. Using our tier strategy, businesses can best identify their target markets and begin utilizing strategies to reach those Chinese consumers," explained James Chen, Senior Consulting Manager in the same statement.
To download the white paper, visit: http://go.euromonitor.com/white-paper-cities-china-economic-consumer-dynami
-- BERNAMA
http://www.bernama.com/bernama/v8/newsindex.php?id=1118434
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