Wednesday, November 16, 2011

The Asian middle class should be your next target market

President Obama is determined to open Asian markets to American exports, but he needs your help. The best thing American companies can do to facilitate exports into Asian markets is to better understand the wants, needs, and behaviors of Asian consumers.

Fortunately, PMP author, Laurent Sausset can help. His new book, Shopping Behavior in Asia What Retailers Need to Know for Success in the Far East, includes a plethora of tips for retailers and manufacturers of all kinds of products. Besides assessing current behaviors, Sausset offers some important tips for the future as discretionary spending increases for many customers.

He suggests:
Retail brands do not have to be perfect in every way, but they should have something new that shows movement and impetus because that is what Asian shoppers will continue to want.

Retail brands must invest in training their sales associates, specifically in product knowledge and friendliness, two qualities that are often lacking.  Asian customers will appreciate services that make shopping easier, avoid wasting time,  offer assurance about product safety, and provide a harmonious atmosphere in the store.

These concepts have become ingrained among many retail brands in the United States, but they should not be taken for granted in the Far East.  U.S. retail brands and manufacturers need to be prepared to monitor every aspect of their brand's entrance into the region and make sure that standards are set that will assure success.

Chapter 9 of Sausset's book outlines specific steps that retailers can take to create loyal customers in Asia for supermarkets, hypermarkets, department stores, category killers, leisure products, and soft lines like perfumes and cosmetics.

1 comment:

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