Affordability, choice and quality key factors that attract foreign consumers

As a developing country, China is working to improve the environment for commercial activities, and is providing people with better and more choices, which benefits all the stakeholders on the supply chains. Among the bumpy global trade reconstruction, more foreign tourists are choosing to shop in China. According to data released by the State Administration of Taxation, from January to June, the number of tax refund stores exceeded 7,200 in China, the number of people enjoying tax refunds increased by 186 percent year-on-year, and the sales of tax-refundable goods and the amount of tax refunds increased by 94.6 percent and 93.2 percent, respectively.

As the world’s leading export nation, China is strong in manufacturing. The complete industrial structure has made it the most reliable consumer destination in the world. When people come to China they can find almost anything they need – and not just Chinese companies’ products.

An important factor for consumers when deciding what product to buy is price. Generally speaking, consumers will calculate and compare before making a purchase. In recent years, manufacturers in China have benefited from the economies of scale, low inflation and improved efficiency of energy usage, as a result there is more room for adjustment of prices. Therefore, it’s natural to buy here in China. The logistic cost of shipping from China’s factory to the foreign markets can be reduced, which is very attractive for foreign consumers.

The second advantage of buying in China is choice. Sometimes when a consumer wants to buy something, they have already decided which brand or type to buy. But, they usually like to have more choice. In China, the domestic market is huge, which has attracted and supported a large number of companies. As China promises to open the market, the restrictions of market access are gradually removed one by one. Investors from any country can come to China easily and freely. Both overseas and domestic companies compete hard to provide more and better choices for consumers.

Quality is the third advantage of Chinese products. China has strict quality control laws and regulations and many companies got their ISO certifications to align with the world-class requirements on quality control. Company like Haier showed the world their determination in quality control many years ago. With more technology usage and trained workers and engineers, quality deficiencies have been continuously reduced over the past few decades. Today, as more and more complicated and fabricate manufacturers are produced and equipped, the manufactures are able to expand their capacity of more products. The involvement of information technology and AI has sped up this process.

Affordability, choice and quality are key factors that attract foreign consumers. But there is even more. The consumption ecosystem has improved, with fewer worries for foreign consumers shopping in China. As an essential part of the consumption, there is a huge demand for after-sales services and the recycling of products. Chinese companies have continuously supplied products to the world, and they have already started to expand their market outreaching ability further by investing abroad. These representative offices or factories can fill the gaps in the whole lifecycle of the products.

Global Times