Being perceived as a bull in China does not bother him, tells business analyst Shaun Rein in the China Daily. His on-the-ground observations and research are a solid foundation, for example for what he calls China innovation curve.
The China Daily:
Being controversial is not a problem at all for Rein. He is confident his conclusions are borne out by what has been happening in China. The changes taking place in China should not be ignored by any company that wants to succeed in this market, he said.
“I’ve spent more time in China than anywhere else. My conclusions are drawn from research and interviews with tens of thousands of consumers in China,” said Rein.
“I don’t think I am over-optimistic about China. On the contrary, I think many people have underestimated China’s potential to innovate, and undervalued what’s happening in China.”
Every year, his consultancy firm CMR polls thousands of consumers in 15 cities across China to get insights into consumers’ demands, consumption habits and many other details. Using such data, the firm develops strategies for foreign companies operating in China as well as Chinese firms aspiring to get more market share.
Rein has developed a “Theory of Innovation Curve”. In China, he argues, enterprises are shifting from copying foreign products and services－the first stage, copycat－to innovating, which is the second stage. Enterprises modify their business models to better serve China’s demands.
In future, increasing number of Chinese enterprises will innovate for the world－the third stage. Chinese enterprises’ original products, services and business models will become popular worldwide.
Young Chinese consumers, he said, want something different as a result of rising individualism, and this trend will increase demand for niche products and services.
Are you looking for more innovation experts at the China Speakers Bureau? Do check out this list.