China has a very big home appliance market. So naturally, companies have a great urge to make a name for themselves and succeed in the huge home appliances market in China. This has resulted in massive competition between local and international home appliances companies.
Local companies are manufacturing a wide range of home appliances from low to high-quality products. Still, international companies like Whirlpool and Bosch-Siemens have ventured into the Chinese market to have their piece of the pie.
Whirlpool first ventured into the home appliances market in China in 1995 through a joint venture with a popular local brand Snowflake. However, they failed to realize that branding in fashion in China is the key to success. Consumers did not accept their products and the company suffered losses.
On the other hand, Bosch-Siemens contacted a digital marketing agency in Shanghai China and acquired some useful statistics about the home appliance market in China. According to a research company named GfK, the market share of the high-end home appliance has grown from 4% in 2004 to 15% in 2012. Considering these statistics, Bosh-Siemens devised a strategy to position itself as a high quality, high-end home appliance brand. Instead of a joint venture, the company decided to manufacture its quality products on its own and marketed them as high-quality international brand.
These decisions have resulted in great success for Bosh-Siemens. The company has grown its revenue by 325% in the Chinese market since 2005. The company has more than 11% market share in the refrigerator market of China. Although it is still behind Haier, Hisense, and Midea, it has captured a large share of high-end home appliances market.
A digital marketing agency in Shanghai China can help you succeed in the Chinese home appliances market. Digital marketing increases your visibility through online channels, and it can help you in your branding efforts as well as increasing sales.