WPIC is working with a leading nutraceuticals company to accelerate its revenue growth in China.
The nutraceuticals market in China is booming. Consumers today are taking care of themselves and their families, purchasing products that allow them to live healthier lifestyles — presenting an enormous opportunity for brands.
China’s nutraceuticals market:
- China has the world’s fastest-growing nutraceuticals market and it will become the world’s largest by 2030
- Consumers in China are willing to pay more for items that are made from real ingredients, are organic, free from synthetics, plant-based, or are environmentally friendly
Earlier this year, WPIC kicked off its phased approach to enable a leading global nutraceuticals company to transition its business model, accelerate growth, and reach its full revenue potential in China.
The brand was already known to Chinese consumers, having been available through various channels in the country for several years. The company had been working with a distributor to sell products through cross-border e-commerce.
The brand was generating sales in China, but in such a booming market, it felt there was more potential to increase its revenue.
Phase 1: Defining the market
To understand the lay of the land, we began with a large data project using our custom-built data tool, Discripto™.
Hosted in China, Discripto™ is able to download Chinese internet data to provide a complete view of any market. It can be used to access revenue availability, current and future market demands, competitive intelligence, search data, consumer insights, and much more.
Some of the insights WPIC provided:
- Historic, current, and forecasted revenue growth in the nutraceuticals market
- Monthly revenue by category across China’s leading e-commerce platforms — Tmall and JD (including revenue by ingredient and function of supplement)
- Market trends (including high-growth categories and seasonal fluctuations)
- Competitive insights (identifying the competition; their share of the market, monthly revenue, platform ranking, product pricing, and more)
This data enabled us to identify the growth opportunities available to the brand in the market — and which of its products/categories to focus on. From there, WPIC was able to create a vision and roadmap to success.
Phase 2: Vision and roadmap
The digital strategy for the company to transition to direct-to-consumer includes:
- A rebuild of its China website
- Store development on Tmall and JD (China’s leading e-commerce platforms)
- Building the brand to develop B2C and B2B relationships for more stores
A .CN web infrastructure is an important center of gravity for any brand-oriented business in China. That’s why we’re redeploying the company’s .CN website and implementing web monitoring for real-time web analytics.
In the digital space, the best data wins — so an ongoing data monitoring solution has been set up. This will allow the project managers to set KPIs, monitor the effectiveness of programs to iterate accordingly, and will inform WPIC’s ongoing strategy development.
The China website will connect to all social and e-commerce platforms as they come online. Concurrently, performance marketing will be used to raise brand awareness and drive traffic to the .CN site.
Phase 2b: Brand, content, and creative
To reach its full revenue potential, the company requires a unique brand identity in China – one that not only resonates with Chinese consumers but also aligns with the organization’s global brand and positioning. To achieve this, WPIC has set out to:
Create domestic Chinese content, through:
- Lifestyle associations tailored to each channel
- E-commerce live-streaming (the hottest e-commerce marketing tactic in China right now)
- Activate the use of in-market Key Opinion Leaders (i.e., influencers)
Test and iterate China-specific content, brand, and messaging across the company’s:
- .CN website
- Social media channels
- Third-party marketplace channels (Tmall and JD)
Phases 3 and 4 will center on tactical marketing and operations; enacting the content and social media strategy, and re-architecting the brand’s Tmall and JD storefronts to complete their transition to direct-to-consumer e-commerce.
Keep an eye out for updates on this project.
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