Chinese market is a very big market. Buying powder plus population are the biggest interests for many companies who want to access to the Chinese market. What is more? They love Oversea Brand name products, specially European Brand, USA Brand. Rayflector is the leading sunglasses wholesaler in the UK with Brand name Rayflector. We have ever thought about selling our sunglasses in China, the first thing which come to our mind is being copied.
We have seen so many big companies they tried to involved in Chinese market, but many of them were failed. Such as Ebay, many years ago, they tried to settle the business in China, but Taobao came, and Taobao took over the market. And then Amazon was taken over by JD.com, Uber lost their market by Dede, even google lost their market, now Baidu take over the market. What is the biggest challenge to do business in China? Why so many famous companies they can't take over the Chinese market, and they are all taken over by the local Chinese company?
The following chalenges might be the answer:
1.Fast Changing Pace
The market environment is very different from many countries. The pace of changing is quite fast in China. Made in China is world famous. Demands and requirements from all over the world just flow into the Chinese market every day from products to services. They got the market demand trendy quicker than any markets. If you don't keep up the speed, you will lost the market.
2. Language Barrier
To do business in China, you have to go and have a look at the market before you take actions. Chinese is quite different from any other language in the world. You will face the communication difficulty if you go to the small cities to have a look at the markets unless you have got translator or someone with you can speak English.
3. Information And Knowledge Sense
Compare to many local Chinese companies, foreign companies have got less information and less knowledge about the Chinese consumers. The consumer environment is far more diverse than it once was and complexity. The big population and different cultures in different parts of China make the consumers preference quite complexity. How to catch the customers is the golden point to access the market and take over the market. Many companies have sunk in China because they failed to have enough knowledge of consumer preference.
4. Laws And Regulations
Every country has got their own laws and regulations, if you don't know the laws and regulations, you will easily be fined by the relatived organization.
5. Governmental Challenges
Every country has got their own government to run their country. You always can do your business in China if you follow the laws and regulations. But that is not enough. Never try to challenge the government.
If you are the first company doing that products or services in China, and you are doing well, very soon many people will start to do the similar things, and they will try harder to improve the products quality and services so they can sell abroad. All these new companies become your competitors. The well know case is Ebay, Taobao catch up the speed and win the market, even in that time Ebay is the first company introduce the services.
7. Hard Working
Every company works hard to bring their companies to perform better to take over the markets. But never under estimate how hard the Chinese work for their companies. If you spend 12 hours for your business, the Chinese will spend 18 hours for their business. If you spend 18 hours for your business, they will spend 24 hours for their business. You are hoping to have a nice break when you see your company slowly take over the market, the Chinese companies will work harder when you are on holiday.
8. Staffs resources
All the companies need the local people to work for their companies, find the right staffs for your company are so important. And how to keep the best staff working longer for the company become very significant. Unfortunately many Chinese they like keep changing jobs, they always not satisfy what they have. They always want more and better. Companies therefore find it hard to keep hold of their best staff.