Min Hahn, formerly Global Director at IFR Monitoring, owned by GfK, joins Brand View as Commercial Director for Asia Pacific to lead the regional team.
With CPG and GM sales growing year-on-year, both in-store and online, Min outlines some market trends that brands and retailers need to consider, and why Brand View is best placed to provide insights into previously unanswerable questions.
“Looking at China alone, online retailing is exploding. There are over 600 million Internet users in whose combined buying power has propelled China into a race with India as the fastest-growing and biggest ecommerce market in the world.
The numbers involved are huge: Chinese ecommerce is currently growing at three times the rate of the US and Europe and, according to Forrester, by 2019 online spending in China will reach one trillion dollars.
Chinese shoppers are extremely active social media users – described as “hyper social” by Forrester – and therefore hold considerable power of brands and retailers. Some 79 percent of Chinese Internet users log onto Weibo – China’s version of Twitter – at least five times a week.
Research by global management consulting firm Bain reveals that 70 percent of Chinese consumers compare product pricing before they buy. Not just for high-end goods and General Merchandise items, but across all personal income levels.
No other company is able to provide real-time analytics and actionable insights, coupled with accurate product matching, data collection, and analysis at massive scale, in order to provide answers to both multinational brands and local retailers. That’s why I’m delighted to join Brand View, the most trusted source for global retail intelligence, as Commercial Director for Asia Pacific.”