‘Top 10 mistakes consumer goods companies make in China’

1.  Upfront investment: Don't rush to hire a China based team/ secure a WOFE & undertake expensive market research

2.  Don’t create trial opportunities: Don’t underestimate the power of trial, ANZ companies have the highest quality products which are a huge brand building asset. Often the best way to build your brand is to create trial occasions through thoughtful sampling

3.  Being inflexible: Don't assume that what you do currently to be successful in Aust/NZ will translate into success in China

4.  Underestimate the sophistication of the Chinese consumer:  Don't assume your clean green image is enough to build a premium brand in China –Australia and New Zealand are not the first countries to recognise the opportunity in China

5.  E-commerce is not a simple solution: Don't believe the big online platforms/Retailers promises around their huge reach translating into brand recognition & volumes

6.  Scared off by regulators: Don't be put off by the Chinese Regulators and CIQ – remember in China it is business first and policy second

7.  Fail to embrace technology: Don't dismiss the new brand building techniques & enablers of Daigou/Live streaming / KOL's. This is a glimpse into the future of more authentic brand building

8.  Chase volume over margin: Don't see China as an opportunity to sell more product at commoditised prices, see it as an opportunity to sell product at premium branded price points. ANZ can not be the food-bowl of Asia but it can be the delicatessen

9.  Not patient enough: China requires a long game – the first 6-12 months need to be seen as an investment in the opportunity. It will not be easy but for the brand owners that remain patient the reward will be worth it

10.  Don’t leverage Australia: There are over 1.5m Chinese tourists coming to Australia each year in addition to the 400k Chinese Australians living here – brand owners that can leverage that dynamic will be in a much better position to execute in China