China’s growing economic power and consumer market have created an inviting environment for foreign and domestic retail companies. But to succeed in this competitive field, you need insight into China’s unique history of cultural influences on consumer preferences. Huang Tao, CEO of an online cosmetics platform, shares his observations in his talk at Cornerstone Capital’s annual gala. When addressing foreign brands, Huang goes beyond the general advice of “do localization better” to offering a new perspective on how fragmented and disconnected cultural identities create hurdles for brands trying to reach wider demographics.
About the Author
Huang Tao is the chairman and CEO of Shanghai-based online cosmetics platform Lily & Beauty.