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China’s Super Consumers summary
Savio Chan
Michael Zakkour
What 1 Billion Customers Want and How to Sell it to Them
16 mins
Brief summary
China's Super Consumers by Savio Chan and Michael Zakkour is a business book that explains why China represents an enormous consumer market. It offers insights to entrepreneurs on how to successfully tap into this market's potential.
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China’s Super Consumers
Summary of 6 key ideas
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Key idea 1 of 6
Retail opportunities are numerous in China, but dramatically different from their Western equivalents.
Over the past two decades, Chinese culture has transformed, and the country’s laws have changed along with it. This is big news for foreign firms, as legal structures in China used to hamper consumer culture.
These days, however, reforms have resulted in the rapid construction of new department stores and malls across the country. The current context presents a prime opportunity for foreign firms to sell their products.
But before your company dives into the Chinese market, it’s important to know about the significant ways that Chinese department stores differ from their Western counterparts.
First, Chinese department stores play the role of landlord to retail brands that rent space on a floor and design a miniature store for themselves in that space. By contrast, Western department stores are merchants who hold inventory and do their own merchandising. In the Chinese model, brands act as retailers, which presents a challenge for foreign companies lacking experience in this arena.
Second, the Western distinction between wholesale and retail isn’t the norm in China, since no corporate buyers exist in Chinese department stores. Rather, each brand is responsible for determining the product mix to order, delivery, merchandising and staffing.
When it comes to Chinese malls, the differences are more subtle but still important. For instance, unlike in the West, where brands and retailers in malls can remain in business despite poor performance, Chinese mall owners can terminate a lease if a retailer underperforms.
Not only that but unlike the typical two-level malls of the United States, Chinese malls usually have four to six levels, with the most expensive rents on the first floor and the least expensive on top. The difference is justifiable since foot traffic is dramatically lower on the top levels.
Finally, apparel, footwear and accessories tend to sell very well in Chinese malls, while electronics, bedding and home decor fall flat. The reason for this is that in China, malls have become centers of youth culture, just like in 1970s and 80s America. These young Chinese shoppers frequent malls to buy items like clothing that help them shape their identities.
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What is China’s Super Consumers about?
China’s Super Consumers (2014) is the definitive handbook for foreign companies who want to sell their products on the Chinese market. These blinks walk you through the opportunities and challenges in this vast and varied country and share valuable information about how to succeed in its unique business context.
China’s Super Consumers Review
China’s Super Consumers (2014) is an insightful exploration of China's evolving consumer market and how businesses can tap into its massive potential. Here's why this book is worth reading:
- It offers in-depth analysis of Chinese consumer behavior, revealing key trends and insights that are invaluable for businesses wanting to succeed in this market.
- Practical strategies and case studies provide actionable guidance, helping readers understand how to effectively engage and connect with Chinese consumers.
- The book sheds light on the unique cultural and economic factors shaping China's consumer landscape, making it a fascinating exploration of a rapidly changing society.
Best quote from China’s Super Consumers
What is the most commonly spoken language on the internet? Its not English, its Mandarin Chinese and its sister languages and dialects.
—Savio Chan and Michael Zakkour
Who should read China’s Super Consumers?
- People keen to understand the world’s largest emerging market
- Entrepreneurs who want to do business in China
- Anyone interested in Chinese culture
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China’s Super Consumers FAQs
What is the main message of China’s Super Consumers?
The main message of China’s Super Consumers is about the rise of Chinese consumers and how businesses can tap into this market.
How long does it take to read China’s Super Consumers?
The reading time for China’s Super Consumers varies depending on the reader's speed. However, the Blinkist summary can be read in just 15 minutes.
Is China’s Super Consumers a good book? Is it worth reading?
China’s Super Consumers is worth reading as it provides valuable insights into the Chinese consumer market and offers strategies for businesses to succeed in this dynamic environment.
Who is the author of China’s Super Consumers?
China’s Super Consumers is written by Savio Chan and Michael Zakkour.
What to read after China’s Super Consumers?
If you're wondering what to read next after China’s Super Consumers, here are some recommendations we suggest:
- The Dao of Capital by Mark Spitznagel
- Dealing with China by Henry M. Paulson
- Building Your Money Machine with ChatGPT by Larry Wheeler
- China's Second Continent by Howard French
- Adaptive Markets by Andrew W. Lo
- I Know What to Do So Why Don't I Do It? by Nick Hall
- Made to Stick by Chip Heath and Dan Heath
- Fooled by Randomness by Nassim Nicholas Taleb
- Abolish Rent by Tracy Rosenthal
- Patriot by Alexei Navalny
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