| Retail market ripe for HK brands |
| 2007-11-16 05:10 |
| From:China Daily Article type:Reproduced |
BEIJING, Nov. 16 -- Hong Kong businesses should target the mainland's rapidly growing retail market, especially in cities with great potential for retail consumption, such as Hangzhou, Suzhou and Ningbo, the Hong Kong Trade Development Council said yesterday. Analyzing more than 200 mainland cities, the council identified 30 cities with strong consumption power. The council issued different ratings to various cities depending on their potential to become retail hubs. First-tier cities, such as Beijing, Shanghai and Guangzhou, were given the highest AAA rating. Dalian, Hangzhou and Tianjin were among the 10 cities classified as AA. Hong Kong Trade Development Council chief economist Edward Leung said the purpose of the analysis is to aid Hong Kong merchants' efforts to open up the lucrative consumer market on the mainland. "If merchants want to sell more Hong Kong-made products on the mainland, they should concentrate on provincial and regional consumption centers," Leung said, adding that Hangzhou, Suzhou and Ningbo have excellent potential. "In one or two years, (these three cities) will be able to reach the consumption levels of big metropolitans, such as Beijing, Shanghai and Guangzhou," he said. The council also found that East China and Central China are regions where awareness of Hong Kong brands remains low. So Hong Kong companies should hone their advertising and marketing efforts in these regions, it said. "Those regions are further away, and consumers there find it difficult to tell the difference between made-in-Hong Kong products and other brands," Leung said. He added that keeping prices competitive and concentrating on design and packaging would give more Hong Kong brands an edge in those markets. Among the 30 top-ranked cities in terms of consumption power, most are clustered around the eastern coast. |
| (Source: English Site of Department of Information Technology) |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
