China: Next big thing on the world stage
By Erina Lin, Wednesday 25 July 2007 at 22:05 :: World Digital Media Trends :: #315 :: rss
China, the forth-largest economy with the second largest purchasing-power in the world, has the opportunity step onto the world stage at the 2008 Olympic Games, according to Ben Macklin, eMarketer Senior Analyst and author of the new “China Internet Audience” report.
“In fact, the lead-up to the Beijing Olympics is likely to be the largest international marketing exercise the world has ever seen, and the fierce competition will extend for decades beyond,” Macklin said. “And one of the most important marketing channels will be the Internet.”
Although online users only represented about 10 percent (134 millions) of the overall Chinese population in 2006, the numbers are expected to jump to 246 million in 2011. The growth is likely to continue with double digits in the next five years, according to eMarketer. By 2011, China will have 40 million more online users than in United States, a number that only represents 18 percent of Chinese population, indicating there is still much room for growth.
In spite of the high numbers, foreign companies now face tons of challenges while trying to get a beachhead in China.
“If there is one important lesson that can be gleaned from the numerous failures of past forays into China, it is that doing business in China requires an enormous amount of patience, and a thorough understanding of the local people and business dynamics,” said Macklin.
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