Ever considered the Chinese market?
This was my reply. It's by no means exhaustive but hope it can shed a bit of light:
"Well, my wife is Chinese, and I learn more and more each day. There's a lot to it, but it's best to start with the understanding of Chinese culture and politics.
In short, unlike here in the west, the role of Chinese parents is to give everything they can to their children; that is their ultimate goal in life. For example, a retired couple here might feel they deserve to live out their retirement by spending their lifelong earnings on themselves. Not so in China. That would be considered a shame. They will always give their money and possessions to the next generations; it is their duty.
Granted, the majority of the population in China is poor. However, the wealthy are extremely wealthy, and sadly, much of this is due to exploitation and corruption. China is still, after all, predominantly communist. The stereotype of Chinese being tricky didn't come from nowhere. I've witnessed first hand (in China) Chinese trying to squeeze every extra penny out of you by any means possible, by lying, cheating, and stealing; and I'm not just talking about down-and-outs, these are upright citizens. This is their mindset. Even at the McDonald's in China, they don't have free napkins, utensils, or ketchup because people will steal them all. Public restrooms do not supply toilet paper; people will steal that too.
Then there's the spending habits. I've traveled the world and I've never seen people spend money like Chinese. It's all about being on the top of the world (this goes back to their thousands of years of the emperor system). They must show status, even if it's not within their means. My wife has a wealthy friend in Australia who owns a 7mil dollar home. This girl says she's poor compared to her friends, who spend their time at a private bar that charges a cover of $3000 per hour. I have so many stories.
You were right when you mentioned what their parents must do. Many very wealthy young Chinese overseas will live alone or with their mother. The reason is, their father is busy making tons of money in China; because there's no way for anyone to make that amount of money here legally.
So unfortunately, it's not very honorable, but if tapped into, it is very profitable for marketers such as yourself. One main reason is, the majority of Chinese have a very similar mindset, their not at all independent thinkers like the west and that's just due to communist education. Overall they actually feel that they must have the same likes and dislikes as one another so they don't feel left out. My theory is our governments are recognizing this, and are very eager to let Chinese immigrate into our countries---they're much better capitalists than we are.
My wife is not one such wealthy Chinese. I'm unfortunately not a marketer (yet). If you are ever interested in striking any deals with your local Chinese community, and need some help, my wife does interpretation work and can likely do something remotely (as we can't move around much, we're expecting a child).
Hope this helps."
Keep in mind this is about Chinese people from China and it isn't inclusive of every Chinese individual (ie. I wouldn't have married my wife if I thought she was tricky), but characterizes a large majority.
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Devilfish168 -
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