Christmas in China
One of the last places you may think of when talking about Christmas is China. For the past several years Christmas has helped various companies increase domestic sales in the last fiscal quarter, building off the popular Singles Day in November.
Following sales reports of the recent holiday its clear to see the effects of globalization and how businesses can use this to their advantage beyond the context of outsourced jobs. In 2011 about 90% of Christmas-related products were sold overseas, now 50% is sold domestically. Christmas is not a religious festival in China but an opportunity to brighten up homes especially for university students, single working professionals and young families with kids. This change in the domestic market has opened even more opportunities for foreign registered companies beyond the traditional trading company.
The domestic market increasingly welcomes foreign registered companies as China becomes more global. In previous years products that may not have been well received may now have chance for a second life. Taco bell is hoping this statement is true as they recently opened in Shanghai after their previous attempt at penetrating the China market back in 2008.
Events like the opening of a Mexican fast food chain and a popular Christian holiday in China are shaping the way expats and locals are living their lives. These are things that foreign companies should consider when bringing business to China or even those that previously thought their product and or service was ill matched for the local market.
Next Christmas could provide some additional sales for those bringing business to China and not just in the international market.