China is looking to cement its position within the consumer goods market within the next two years by improving and increasing its products whilst ensuring that their domestic brands develop a global reputation for quality. Yet these advantages have shown signs of decline as competition in the global market intensifies, and industries are now facing problems such as a lack of innovation and quality. This is a response to increasing consumer demands for better quality products that are a showcase for innovation and craftsmanship, mainly from the growing Chinese middle classes. Demand from these affluent consumers shows no sign of slowing down hence the need to develop high-end products that satisfy these demands whilst establishing a positive environment for businesses. The new generation of luxury brand names will be able to tap into this demand with an emphasis on quality, innovation, design and innovation.
China is looking to cement its position within the consumer goods market within the next two years by improving and increasing its products whilst ensuring that their domestic brands develop a global reputation for quality. This is a response to increasing consumer demands for better quality products that are a showcase for innovation and craftsmanship, mainly from the growing Chinese middle classes. Demand from these affluent consumers shows no sign of slowing down hence the need to develop high-end products that satisfy these demands whilst establishing a positive environment for businesses. The new generation of luxury brand names will be able to tap into this demand with an emphasis on quality, innovation, design and innovation.