Building brand loyalty and a close relationship with the Chinese consumer is now a critical success factor for many premium international brands. The number of Chinese millionaires is expected to surpass that of any other nation by 2018, and by 2021 China is expected to have the most affluent households in the world.
A brand relationship is critical because “of the three brands considered for luxury purchase, two are considered top-of-mind, and are the ones that (Mainland Chinese) consumers actually buy on 93% of their purchasing occasions,” according to an August 2017 report from McKinsey & Company. “Wealthy Chinese are unlikely to purchase luxury goods that don’t fall within the two brands they consider top of mind.”
Global-Z International has been a major part of building the customer to brand relationship strategy for global premium brands for over twenty-five years and in the People’s Republic of China since 2003. Our address data quality expertise is built on a mature hygiene, matching and recognition process and the experience of processing more than 7.5-billion records with Chinese addresses. Today, it is one of our fastest growing markets, accounting for over 3% of our annual transaction volume.
Our long, extensive experience in China means that Global-Z can quickly and intelligently resolve the issues that come up with cleansing and matching Chinese customer records. For example, address formats are inconsistent. The Universal Postal Union (part of the United Nations), the Microsoft Developer Network reference on China addresses, and other sources have different preferred China address formats. Global-Z understands and can handle the differences.