Chinese health and wellness industry is definitely a big upcoming opportunity. According to a recent article in Forbes , it stated that “Across the United States, Europe, Japan and Australia, a large number of senior care operators and investors have identified opportunities to expand into China. The combination of China’s rural-to-urban migration, an emerging middle class with discretionary income, and a rapidly aging society all point towards what should be a compelling opportunity for these foreign companies to expand into China.”
Wellness industry would be a big and future market for the Chinese market, no matter it is targeting and offering services to the old generation such as care home, personal carer, or offering activities and products that can satisfy increasing consumers’ demand about living a better well-being life and spiritual needs.
In addition, more and more Chinese consumers are aware of the importance of health living, eating, and body caring, organic and natural food, ingredients, skincare are in higher demand as compared to the past.
The opportunity may be attributed to below reasons:
- Ageing population: Couples from the younger generation make less babies than before, this might be due to many reasons such as increasing stress about work and life balance, people are becoming more mobile as compared before (people move from one country to another), increasing cost about raising a kid etc.
- Higher deposable household income in general: China is in the process of transforming the country from a factory marketplace to a service, innovative start-up marketplace. Due to rising labour and raw material cost, factories are moving from China to Asia such as Vietnam, Laos, and Indonesia etc.
- Maslow Hierarchy of needs: It is the “transformation from the basic needs to higher needs”. Chinese consumers, in particularly the post 80s and 90s generation, will be willing to pay more money to buy organic seeds and wheat, pay for a personal gym instructor, health and wellness devices, well being and lifestyle coach, hot yoga section, retreat, or other form of activities and adventures which they can pursue a higher form and spiritual well-being.
According an article from China daily, it mentioned “To compete and gain bigger market share in the increasingly lucrative market, companies should focus on their brand building, as better-known brands are considered safer and of higher quality than less-known brands.”
In fact, “Chinese consumers” are so diverse and their attitudes, needs, behaviours towards health and wellness product, services are vastly different among different gender, age group, and geographical regions.
It is better to know which customers segments your product would most appeal to, and to focus on one particular segment in a geographical region before pouring every resources and jumping straight to conquer the whole big market, if companies are new in the region and not familiar with the complexity of the law and regulations about the industry.
In addition, most importantly, health care industry in China is totally different from the UK, USA, and the rest of the world. It is still very much controlled by the Central Chinese government, always spend time to understand the political, regulation of the health care industry in China.
Want to expand your healthcare/wellness/organic food range into China and get some free tips and advices? Talk to us!
Co-founder of Red Digital China
Over the past eight years, Sarah has led and executed successful digital campaigns for a range of international and local companies in China, Hong Kong and internationally, including: Hong Kong Ocean Park, agnes b, Volkswagen, Premium Tax Free – Watches of Switzerland and Damiani. She has worked with property, travel and hospitality, luxury and fashion clients. As a native Chinese speaker fluent in Mandarin, Cantonese and English, Sarah is also a popular Chinese lifestyle, fashion and travel blogger.
During the day, she was working for Red Digital China, during the night, she expands her interest in creating story-telling content, design, drawing etc.
Latest posts by Sarah Yam (see all)
- Chinese Digital Marketing hacks for China outbound tourism industry - October 27, 2018
- China outbound tourism: Big opportunities moving forward - September 6, 2018
- Chinese outbound travel: Chinese tourists outbound travel trend - June 20, 2018