BEIJING, China - With the outlook for many Western economies looking sluggish at best, many brands have started looking more carefully at emerging markets as the key to future growth. One of these markets is China with the allure of its emerging 150 million middle class consumers.
Its steadfastly growing wealth offers unparalleled opportunities for brands. China is already the second largest destination for luxury goods and will be the biggest within five years. One the consequence of the country’s growing wealth is disappearance of bicycles in city traffic. The bicycle is no longer the preferred choice for transportation, but is making a comeback in a new incarnation as a leisure vehicle for the countries burgeoning emerging middle class.
Beijing Bike Week is a new event aimed at helping brands engage with the Chinese market and gain genuine understanding of Chinese consumers. It combines an exhibition, brand presentations, dealer meetings and consumer research sessions into a four day event for all brands interested in getting a foothold on the Chinese market.
The event is hosted in a luxury shopping mall. It’s located on the same strip as the inner city Ferrari, Bentley and Maserati dealers attracting the city’s high net worth consumers. Why Beijing? According to the organizers, Beijing is the centre of China’s wealth. It is the ideal place for brands to develop a presence in China, particularly at the high end as the consumer buying power has reached the levels required to purchase bicycles for recreational pursuits.
Beijing bike week will take place in March 2012.