The Chinese Advertisement market has grown by almost 500% in 10 years from 107 billion to 502 billion Yuan (59 billion euros)
Chinese Online Advertisement market size is 13 billion euros
In advertising also , China is now playing in the big leagues . Barely on the radar of industry leaders about ten years ago, the Chinese market is now the second largest worldwide. With statistics that show the extent of the phenomenon: the revenue generated by this activity increased between 2003 and 2013, from 107,000 to 502,000 billion yuan. At current exchange rates, the industry is , therefore , equivalent to 59 billion euros .
The annual growth recorded rotate, currently at around 30 % per year. 2.6 million people would work in this field, against less than 1 million a decade ago .
For every industrial sector , the potential is wondrous . The second world economy must change development model for doping household consumption. China has a lot to catch up in this area. The importance of advertising in GDP in China was less than half of what is generally found in developed countries.
True to its tradition Planner, Beijing has published in 2012 a five-year plan that includes the development of 29″clusters” , bringing together the entire ecosystem areas of advertising.
Development of the Web
In this exploding landscape, it is the new media that takes the dynamics . Internet advertising, in particular, saw its revenue grow 46 % year on year in 2013 to 110 billion yuan ( 13 billion euros). Early 2014 , the annual growth rates were even higher at 50 %. A dynamic range from the growing Chinese Web: end of 2013 , there were 618 million Internet users in the country. Although slightly smaller , the mobile Internet is also booming , with its 500 million regular users. According to calculations by Price water house Coopers (PwC ), advertising on these media should weigh 12.5 billion yuan in 2014 and 25.7 billion in 2017.
Beyond traditional advertising campaigns , new digital media require developing different communication modes based on collusion with the consumer. Especially appeals to hyper-connected younger generations . The head of a cosmetics brand admits to having ” a fully dedicated to the daily entertainment of social networking team.” An advertising said: “In a few years , this area has become one of the main challenges for brands. ” Weibo , the” Chinese Twitter “or WeChat , the mobile application on which communicate almost all urban , have become essential battle fields of marketing.
One of the peculiarities of the Chinese market , which is an asset for professionals, is the tolerance of consumers toward advertising. The PwC survey , for example , found that 78 % of them are willing to click on an advertisement , against an average of 29 % in the European Union. Even more amazing , they are a majority (58% ) to say that willing to share personal information in exchange for payment ( gift, free apps … ) while less than 30% would be ready to do so in Europe.
As you may have noticed this is definitely a boon for all that seek to expand their business in China :
An exploding market, consumers that are not advertisement insensitive as westerners often are. Finally, you can use very cost efficient methods to reach your target customers. All you have to do know is to find how to sell in China
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