Chinese vendors, Korean premium products are “excellent”
-KITA, held Export Fair for Chinese Large Retail Chain Import Vendors-
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There was an event to introduce Korea’s premium products intensively to Chinese large retail chain import vendors.
Korea International Trade Association (President Han Duck-Soo) held Export Fair for Chinese Large Retail Chain Import Venders in order to support Korean companies’ entry to China's domestic market on Wednesday, 11th at Samsung-dong Trade Tower.
China is a huge market of 1.4 billion people, but it is impossible for the small and medium-sized enterprises (SMEs) to build sales network covering a large area in reality. Thus, it is common for foreign businesses to take advantage of dealers or venders. In the case of Orion which successfully entered China’s market with Choco Pie, 97 percent of its domestic sales in China is being generated via venders and the rest 3 percent is coming from large discount stores such as Walmart. It indicates that venders’ purchasing power in China’s retail market is considerable.
* Venders make profits by selling the products that they purchase with their own fund. Dealers are commissioned sellers who receive commissions from the sales.
14 companies including Chinese large retail chains such as Beijing Hualian, Vanguard, Wangfujing Department Store and Watson’s as well as import venders such as The First Shop, JD.com and Tmall, that supply products to the largest online shopping mall participated in this fair. They had consultation sessions for purchasing Korean premium products, for instance, food and beverage, household goods, clothing, infant supplies and cosmetics that are becoming more popular lately in China’s markets.
40 Korean small and medium-sized companies including Changsin Living, Lydia R&C Co., Ltd., Angel Medical Co., Ltd, Myun-Nara Food took part in the fair and had about 120 consultation sessions with powerful retail buyers from each field.
Ho-Geun Jang, the director of International Marketing Group of KITA mentioned “We need to take advantage of venders strategically in order to enter China’s retail market successfully.” He also stressed “this fair will provide a shortcut for Korean exporters to enter Chinese domestic market more easily.”
KITA plans to continue to promote various marketing businesses such as Export Fair for Chinese Fashion and Beauty Buyers (July 23rd~24th) and China Yanji and Tumen River Area International Investment and Trade Fair (August 8th ~30th).
