Every month we are asked about India and China. How big are the markets? What and where are the opportunities? Which is going to be the biggest?
In terms of Digital Out of Home, we always answer, “India” – we think the China market is perhaps a bit exaggerated and we always say, probably lots of short term infrastructure work but maybe not that much long term in terms of ongoing business.
We just don’t see a Chinese middle class there yet that is willing and able to spend (and if and when they do spend they often spend overseas and not in the luxury Malls at home).
As we have (honestly) pointed out before, when one marks a trend or makes a prediction, one is always on the lookout for proof positive supporting your supposition.
Just a minor one here, but a nice article in our MOST favourite magazine, Monocle (treasured customers of ours were gifted annual subscriptions this year for Christmas) talks about “China’s booming economy has triggered a luxury-mall boom. Packed with the best brands, they lack just one thing: shoppers with money. While some companies have found success, many more could soon be packing up and heading home” in an article entitled Spot The Shopper – Beijing in the March 2008 issue 11, volume 2
It’s a very interesting read for anyone who has an interest in the China market. The magazine full stop is probably the best there is on global affairs, business, culture and design.