In this episode of The Negotiation podcast, we are joined by Daniel Mabey. Daniel is the Asia Region President of the United Natural Products Alliance (UNPA). He is also the director of UNPA’s Market Development Cooperator Program with the U.S. Commerce Department’s International Trade Administration, which aims to increase exports of US-made natural health products to China through a new export certification and quality program. Daniel’s role is crucial to the newly established export certification and quality program, which aims to expand the export of natural health products produced in the United States to China.
In our conversation with Daniel, we get valuable insights into the various segments of the nutraceuticals market in China, the cultural factors driving its growth, and the regulatory environment for foreign companies. We discuss effective sales channels and marketing strategies for companies looking to enter the Chinese market. Daniel also predicts continued growth in the nutraceuticals market in China, driven by factors such as the aging population and increasing health awareness. We also talk about the importance of data and analytics in predicting customer behavior to be successful in China. Enjoy!
Topics Discussed and Key Points:
● The power of exposure
● The booming nutraceuticals market in China
● Consumer attitudes in China toward nutraceuticals
● The Blue Hat registration process in China
● The motive behind the Chinese government setting up the cross-border e-commerce system
● Effective marketing tactics and strategies e-commerce enterprises can use to achieve prosperity in the Chinese market
● Challenges of importing products to China
● The importance of using the right marketing and trading partner in China
● WPIC’s data-driven approach to the Chinese market
● The regulatory environment of the nutraceutical industry in China
● Dietary supplement health and education act of 1994
● Why we could see the consolidation of foreign brands in China in the future
● Why having relevant data and market knowledge are keys to succeeding in China
Let's take the first step.