The burgeoning China market holds tremendous promise form makers of well-designed and functional products for the home. Our next speaker, Jackson Liang, Managing Director of Genesis Household Products, a company which imports and places products in the China market.
Mr. Liang offered these insights on his market:
– China’s population is 19% of total world population
– China’s 7.4%vgrowth is larger in real output terms than its 14% growth in 2007
– Total ecommerce was 427 billion in 2014
– Department stores are number one channel in China
Mr. Liang assesses the opportunities and challenges in China as follows:
Opportunities:
– Growing demand
– 60% of consumers will pay more for imported products
– Tier 3 and 4 cities have big upside potential
– Online and social portals offer fast to-market opportunities
Challenges:
– The retail market is immature
– Regulations and local policies can be complicated
– There are cultural differences
– There is a lack of experienced housewares buyers
Mr. Liang’s PowerPoint is available to IBC members here.
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About the Speaker:
Jackson Liang
Managing Director
Genesis Household Products
Jackson Liang is currently the Managing Director of Genesis Household Products and has worked in the housewares industry since 1997. Previously, Mr. Liang was the sales & marketing manager for Timolino Ltd., a thermal drinkware brand from the U.S. Since 2008, Mr. Liang has been managing day-to-day operations for Genesis Household Products, an importer and distributor of branded houseware products through the China market.
Mr. Liang was born and raised in Taiwan and has had the opportunity to come to the U.S. during high school. He earned a degree in architecture from Columbia University, graduating in 1994.
Mr. Liang currently lives in Kunshan, China with his wife and two children and enjoys playing sports and traveling with his family in his leisure time.
