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 Consumer Goods Industry | A Preview

Consumer Markets in China

Until the late 1990s, consumers thought of top brands only in terms of "famous names" (名牌). Back then, foreign brands were signals of luxury and social status, but nothing more specific—not even quality. Branded goods sold in China were not greatly differentiated, and few social occasions in China required more fashionable clothing.
Branded apparel that found its way into consumer wardrobes was disproportionately characterized by athletic sportswear. Since the early 2000s, however, more sophisticated
consumers have been looking to express identity and status through fashion. To these consumers, brand is more than just a famous name, and should resonate personally on an emotional level. A broader range of entertainment options and social occasions, along with growing consumer affluence, are driving Chinese consumers to expand and diversify their wardrobes. Consumers are also seeking more unique and personalized shopping experiences, increasing e-commerce and multi-channel sales. 
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 Consumer Markets in India

The growing purchasing power and the rising influence of the social media have helped the Indian consumers to splurge on good things. A study done by a leading industry body and Yes Bank has stated that the consumer spending in India is expected to quadruple to US$ 4.2 trillion by 2017. As per GSMA's study 'Smartphone forecasts and assumptions, 2007-2020' India ranks fourth in the top 10 global smartphones markets. The country had 111 million smartphone connections in the April-June quarter of 2014, behind leader China, US and Brazil. India could become the world's largest middle class consumer market with a total consumer spend of nearly US$ 13 trillion by 2030, as per a report by Deloitte titled 'India matters: Winning in growth markets'. On the back of better incomes and increasing affordability, the consumer durables market is anticipated to expand at a compound annual growth rate (CAGR) of 14.8 per cent to US$ 12.5 billion in FY15 from US$ 7.3 billion in FY12. Online retailing, both direct and through marketplaces, will grow threefold to become a Rs 50,000 crore (US$ 8.06 billion) industry by 2016, as per rating agency Crisil. Also, the growth of internet retail is expected to boost offline retail stores. India could soon become an important market for wearable technology such as smart watches and fitness monitors, driven by consumer interests in these latest gadgets and the increasing spending on consumer durables. In Accenture's Digital Consumer Tech Survey 2014, respondents from India were most interested in buying fitness monitors (80 per cent), smart watches (76 per cent) and internet-enabled eyeglasses (74 per cent). Know More >>

 What INCCS can do for you..

  Sector specific language services

At INCCS, we provide specialized technical translation & interepration for consumer markets. Our language translators are equipped with technical vocabulary and in-depth knowledge of consumer markets in India & China, ensuring that you get technically correct, contextually accurate and localized content with lowest delivery lead times and cost. Know more about INCCS language services here>>

  Tailored Sourcing & Procurement Services

INCCS has a large database of Chinese and Indian best-in-class manufacturers of consumer goods including apparels, accessories, and sports equipments. If you are a retailer / trader, INCCS can ensure best business matching to ensure that you import quality goods at lowest costs.  Know more about INCCS sourcing & procurement services here>>

  Specialized Market Research and Export Services

At INCCS, we have dedicated specialized market research teams for every industry vertical we cater to including consumer goods. Our sector experts assure you of the most accurate and actionable market insights to help you decide which Asian markets to enter, when and how. If you do decide to enter the challenging consumer markets of China and India, our regional experts can help your from start to end, from building your market entry strategy to product launch. Our range of services include international lead generation, developing local contacts for wholesale distribution or partnership, partner search, support of negotiations or M&A, brand development, assistance with local certification, export finance, overseas marketing and promotion, online marketing including website development and local SEO, developing local language contextually-correct marketing communications, public relations, product launch, trade show support services, and international end-user / customer support. Know more about INCCS export & marketing services here>>

  Effective International liaison services

We at INCCS, help firms build everlasting strategic relationships through our bouquet of liaison services including organizing business delegations and assistance in participation in trade fairs, exhibitions and conferences that help you in every step including Domestic travel arrangements,Accommodation arrangement, Organisation of promotional events, factory visits and Preparation and Management of buyer-seller meetings. Our specialized language translators with in-depth knowledge of automotive industry and technical vocabulary would be at your service throughout your stay to ensure that you close the deals before you leave.  Know more about INCCS liaison services here>>

  Customized Project Management Services

If you are aiming to set up a manufacturing unit catering to consumer goods industry, allow INCCS to partner in your success. We at INCCS are staffed with six-sigma black belt experts and PMP professionals having demonstrated expertise of project execution in consumer goods industry. Our concept to commissioning model (C2C model) promises smooth execution of your project from start to end including project planning, reporting and communication, budgeting and cost control, scheduling risk management, stakeholder engagement and regulatory approvals, design management change management, construction monitoring, project acceptance and turnover, and final project close out. Know more about INCCS C2C project management services here>>

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Testimonials

"INCCS was great! I was very skeptical at first about sharing my sourcing needs with some one else for fear of having to pay through my nose for the Crane my company wanted commissioned, but INCCS really came through for me. Not only did they give me a great choice of eligible vendors who met our needs, they also helped us save mega bucks by negotiating so hard it felt as if they were the ones buying and not us!!"

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