A Top Reference Guide to Int’l Wine Businesses to Where They Should Invest & Sell Their Wines
China is huge in territory and in population. According to the living standard and food and drink cultural practices, wine consumption is definitely expanded from developed economies onwards. As most international wine producers/marketers are small-to-medium size operations, it is important for them to explore, develop and invest smartly of their marketing budget and resources (e.g. taking part into a wine exhibition or holding wine-tasting events) to open the business opportunities in China.
ChinaWineBusiness.com elaborated and summarized the below chart for your marketing plan reference according to their 2017 economy sizes, population and personal spending power.
The cities chosen in China are generally called “Trillion Yuan City Club” (with annual GDP reaches or exceeds 1 trillion Yuan (that is CNY1,000,000,000,000 and more).
By the end of 2018, these followers are very likely to catch up to join the wagon:
* Exchange rate of USD to CNY was calculated base on 2017’s weighted average rate (@US$1.00 = CNY6.7584).
By counting these 14 cities, they constituted 29% and 14% of China’s 2017 GDP and population respectively.
International wine businesses could also choose wherever in China (even it’s a city not mentioned and reported in this report) they see fit (China has 334 prefecture-level cities or equivalent).