7 October 2014
US Consumer Electronics Association
Haggling over consumer electronics prices in China
In contrast with the US and Europe, bargaining over prices is the norm in China’s small consumer electronics retailers. Spire Research and Consulting posted a commentary on how Western brands should sell their consumer electronics products in China, published on the US Consumer Electronics Association’s blog.
Chinese adults spend an average of USD917 on consumer electronics, compared to USD483 in the US. Over 60 per cent of China’s population will continue to spend more on this category.
In Chinese computer and consumer electronics retailers, bargaining is a common practice. This stands in contrast to the American and European norm, where consumers are used to fixed prices, whether at large retailers or e-tailers. This is due to the saturation of retailers in the Chinese market. These retailers sell high-end consumer electronic items such as laptops, cameras, tablets, mobile phones and so forth at negotiable prices.
So how do western vendors keep up with the competition? Key tips include understanding store layouts so as to design suitable marketing material, maintaining an efficient yet trustworthy supply chain and spending adequate time and resources to build rapport with retail shop owners.
For media enquiries, please contact:
Senior Executive, Group Corporate Communications
Spire Research and Consulting
Phone: (91) 124 646 5499
Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.