Monday, April 14, 2014

One size does not fit all in China - Ben Cavender

Ben Cavender CMR 2
+Benjamin Cavender 
China´s consumers are becoming more sophisticated and - unlike the past - they do no want to be seen in the same outfit as their colleagues. It is about customizing, not about showing off, tells business analyst Ben Cavender in CNBC. 

CNBC:
"Customers are more sophisticated now," said Ben Cavender, principle at China Market Research. "They are not just trying to be flashy anymore. They are more likely to buy products that fit their own personal sense of style. They are looking much more closely at the quality of construction craftsmanship the unique story of the brand." "People don't think about showing off," Cavender added, "They are choosing a customized item and they are choosing to buy from a smaller brand or they are buying less obvious or less loud products." 
Multinationals selling jets, sports cars, suits and sneakers have all sought to cash in on the new appetite for beautiful one-of-a kind goods. But with the children of skilled artisans choosing white-collar work over the family trade, global brands are finding it difficult to recruit enough skilled workers to justify bespoke lines. 
"The reality for the larger brands is it is tough to do too much customization," said Cavender. "It's never going to be a good business. For entrepreneurs it's a way to distinguish yourself so people will buy you instead of a big brand."
More at CNBC.

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