Episode 30 - Michael Zakkour - Tompkins Intl

UNDERSTANDING THE CHINESE CONSUMER


DESCRIPTION

Conferences are a fantastic opportunity to meet people with a unique perspective on ecommerce. Today is the last of our Catalyst ChannelAdvisor Conference interviews with Michael Zakkour. Michael is the Vice President of China/APAC & Global eCommerce Practices at Tompkins Intl. We had the privilege of attending Michael’s lecture on Chinese “Super Consumers,” which explains the staggeringly rapid growth of the Chinese upper class. In this podcast, Michael is going to expand on how brands are reaching super consumers in China, and how counterfeiting is such an issue for the global marketplace. 

 

Don’t mistake Chinese modernization for westernization.
— Michael Zakkour

There are nearly 1 billion Chinese “Super Consumers.” That is quite a market! Brands should expect Chinese consumers to behave differently than those in Western markets. Michael’s insights into this group will be invaluable for any brands hoping to make it in the Chinese markets. Michael will address how brands should approach this opportunity, and where have brands failed before. Michael also has many interesting stories about how the wealthy Chinese consumer is evolving, including unique insights on New Retail. His perspective is not one we have been able to share on the show so far, so we know you will enjoy a few new insights from this interview. 

 

KEY TAKEAWAYS

  • Michael tells us how he came to be an expert on Chinese retail space. 
  • Why ecommerce channels are irrelevant in China. 
  • Chinese travelers are spending globally. 
  • What is New Retail, and how is it different from omnichannel?  
  • The first New Retail experience the world has ever seen. 
  • Brick-and-mortar is now being reimagined by digital native brands. 
  • We are missing the experience pillar of retail. 
  • How to figure out the cultural barriers of reaching the Chinese Super Consumer. 
  • Understand the big ecosystems that exist in China. 
  • Invest in Chinese students in the U.S. 
  • What measures have been made by Amazon and Alibaba to stop counterfeit products. 
  • There is no such thing as a staggered launch. 
  • What brands can learn from Pizza Hut and how they adapted their business model to Chinese pillars of retail. 
  • Michael’s predictions about who will own the ecommerce space.

 

MENTIONED IN THIS EPISODE

Catalyst Americas 2018

 

Season 1