As a country with a population of 1.4 billion, China has been a "fragrant food" in the eyes of foreign brands for many years. After all, the consumption power of Chinese is obvious to all, so as long as it can win the favor of the Chinese people and the quality is reliable, then foreign brands can basically make a lot of money in China. What I didn't expect was that many foreign brands had the idea of eating Chinese rice and wanting to smash Chinese bowls, especially H&M and foreign brands such as Nike and Adi.
This also led to the previous sales in the Chinese market, Adi and Nike, which were extremely hot, but found that sales in Northern Europe, the Middle East and the Americas were rising, but there was a "Waterloo" incident in the Chinese market. Sales once plummeted by double digits, which also made the head of Adi and Nike's Asian region very suspicious, do Chinese young people not like Adi and Nike? In fact, the reason for this situation has a certain relationship with the behavior of Adi and Nike, and the most important thing is the rise of domestic brands, especially the domestic sports brands represented by Li Ning, Anta, Xtep and Hongxing Erke, which have soared in sales. According to the understanding, in 2021, ANTA's revenue reached 49.3 billion yuan, up 38.9% compared with the previous one, and Li Ning's income also exceeded the 20 billion yuan mark for the first time, an increase of 56.1%. Xtep also rose 24%, and revenue exceeded the 10 billion mark.
It is worth noting that the performance of these domestic sports brands on the e-commerce platform is also remarkable, especially an ANTA, which was once the official designated cooperative brand of the Winter Olympics, the sales increase of the e-commerce platform is about 50%, and the special step and pullback also reach 80%. After in-depth investigation, most buyers are basically post-90s or post-95s, which Adi and Nike are very puzzled, where do they lose?
First, Adi and Nike have gradually grown with the help of the Chinese market, but they have chosen to move their production plants to Southeast Asia. This transfer directly lost the praise of the Chinese people, which had a feeling of "crossing the river and demolishing the bridge".
Second, domestic sports brands, whether it is design or quality, are no worse than Adi and Nike. There are even cases where foreign brands imitate domestic brands, which is enough to show that Chinese sports brands have gradually gained global recognition.
Third, the change in the consumption concept of Young Chinese people is also the most direct reason. This is like today's Apple phones. Chinese people believe that the use of Apple mobile phones does not necessarily mean that there is face, which is equivalent to buying Nike and Adi, even if you wear Nike and Adi, it does not necessarily have face.
Finally, with the rise of domestic brands, it is not a good thing for Nike and Adi. And for Young Chinese, maybe wearing Nike and Adi before will feel faceless. But wearing Anta and Li Ning today, I am very confident.
In this regard, it can really be said that the consumption concept of Chinese young people has really changed, and they are no longer "admiring the foreign world" and have turned their heads to support domestic products. Compared with before, this can be said to be a good start, presumably the future of Chinese young people, will be more and more like domestic products. I don't know how these foreign brands such as Adi and Nike will feel?
(Text/Hua Qiang)