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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
Keywords:
A big hurdle for local brands in China is the Chinese consumer's interest and respect for foreign brands. Asked about local brands buyers say they can't think of any, or say Chinese brands are shoddy in quality and value. Brands such as Haier in consumer appliances and Lenovo in tech are an exception. During the big surge in consumer sales in the last two decades Chinese companies producing local brands thought it adequate to simply imitate foreign brand names rather than take the difficult route of establishing the credibility of their own brand- an effort which might take years. Often the foreign name was changed slightly to keep the resemblance but mean something positive to Chinese consumers in the local language. Common are names such as Adidos, Hike, Cnoverse and Fuma for sneakers. Clio Coste keeps the connection to Lacoste with its crocodile logo. Coca Cola in Chinese is Kekoulele, translated to mean Tasty Fun. Only now are local companies giving serious attention to creating long term brand entity and image. The serious attention to brand names and branding comes at a time when China increasingly depends on consumer sales to power the economy with the decline in real estate and slower manufacturing. For the 11 months of 2014 retail sales were up 12 percent over the prior year period to $3.8 trillion, according to the National Bureau of Statistics.
Brand names in China- taking on foreign names, "Adidos," "Christian Deny"
12/26/2014
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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
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Dun & Bradstreet, McDonald's, Yum Brands, Carrefour, Apple and VW, are some of the foreign companies that come up for review in the consumer rights broadcasts of CCTV. There is a new spirit behind the work of CCTV reporters now that poor service and consumer issues relating to quality of products and contamination in food have been made priorities under the new Jinping-Keqiang administration. China's new leadership is turning its attention to these issues negected in the period of fast growth. Foreign companies operating in China are now expected to maintain the same high standards followed in their home market or come up for review.
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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
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Tom Orlik on wealth distribution in China and why increasing consumer spending would require higher incomes for the lower middle class and rural households
01/07/2010
Orlik cites a study by a Chinese university which shows 10% of the households has over 80% of the wealth, and over 50% of the households have little or no savings. This suggests that there is not much room to increase consumer spending on education, healthcare, and consumer goods for these households as incomes are too low. This may account for the insecurity felt by a large majority of households about the future. It also shows that rebalancing the global economy would require rebalancing within China, reducing inequality and improving incomes for the middle class to increase consumer spending.
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The extraordinary shift in wealth controlled by 10% of the households in China from 31% in 1995 to 86% in 2011, which makes a shift to consumer spending and rebalancing the world economy less likely
10/03/2012
By comparison estimates show 10% of the households in the U.S. control 74% of the wealth. Most of the shift in wealth happened in the last 10 years 2002-2011, as by 2002 41% of the wealth in China was controlled by 10% of households. About 55% of China's households had little or no savings for the year, in this 2011 survey cited by NYT's Orlik, which means a shift to consumer spending for the Chinese economy is less probable in the short run.
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Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
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Martin Feldstein on China's efforts to control inflation, rising real estate prices, and shift its economy away from export led growth in 2011-2013
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Feldstein says China has the economic problems of inflation, the effects of the large stimulus after the 2008 global financial crisis, and overdependence on exports, under control. The new five year plan gradually shifts the economy towards greater reliance on services and a shift away from export led growth. The smaller stimulus of 2012 is being guided to necessary infrastructure such as power development and towards low income housing. China has still to tackle problems with an aging population and its one-child policy, inequality and corruption in government. These will be challenges facing the new government.
Grouped Articles
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