TECHNOLOGY
THIS YEAR CHINA has moved closer to becoming the world ’ s largest retail market , with the total retail sales of consumer goods in the country reaching 30.1 trillion yuan (£ 3.39 trillion ) in 2015 , as cited by China Internet Watch .
To put that into perspective , according to Retail Economics the UK ’ s total retail sales reached £ 339 billion in the same year - just 10 per cent of China ’ s retail figures .
One important factor stimulating this growth has been the ability of brands outside of mainland China to connect with consumers in what is the world ’ s most populous country . Businesses around the globe are responding to the increasing demand for foreign brands by Chinese consumers . Indeed , in 2015 alone the number of overseas companies operating in China ’ s free trade zones doubled .
In today ’ s highly competitive global market , the ability of a brand to gain exposure in new regions is invaluable and more essential than ever before .
This constant search for international expansion options
‘ Businesses around the globe are responding to the increasing demand for foreign brands by Chinese consumers ’
8 December 2016