Entering the second half of 2023, what new opportunities will China usher in to the sea?

Time: 2023-06-27 16:32

In the process of Chinese enterprises going to the world, the US market has always been a battleground for the military.
At present, the US market has entered a state of mild recession, in such a situation, how should Chinese overseas enterprises face a series of challenges to enter the US market?
Is the second half of 2023 a good time to enter the US market?
The United States remains a prime destination for the sea. Why?
What are the competitive weaknesses of Chinese overseas enterprises when they compete with local American enterprises? What is the way to overcome it?
IAN explains them all.

Is the second half of 2023 a good time to enter the US market?
Throughout history, the current Chinese enterprises are ushering in the third opportunity to go to sea.
The first opportunity to go to sea is for China's manufacturing industry to export high-quality goods to global markets through supply chain advantages. At that time, China's manufacturing industry was competitive in terms of quality and cost-effectiveness, and the supply chain advantage was large enough.
The second opportunity to go to sea is the rise of the global wave of mobile Internet. From gaming to social media, various mobile Internet applications have spread rapidly across the globe. China's mobile Internet companies have also risen rapidly in this wave and have a place in North America.
Now, a third chance at sea is just around the corner. China has a unique advantage in the emerging supply chain and high-tech, with the first two waves of the sea as the basis, and then superimpose the domestic epidemic after the growing "volume king" enterprises (low price, good quality, novel design, good concept, mature marketing, talent), if you can grasp the opportunity, you can go to the United States to break the local ecological balance, usher in a new pattern.
We are now in a turbulent environment, with unstable China-Us relations, sluggish global economy and large market fluctuations. However, opportunities and pressures coexist in any era, and a breakthrough is the best solution.

Second, the United States is still a good destination for the sea, why?
1, the United States is the world's largest single market, with a huge market capacity, it is easier to explore business opportunities. The US market is large, the population is large, and the consumption power is strong, so there are more opportunities and potential customers for overseas enterprises to develop.
2. The US market is relatively inclusive. The United States is a multicultural and multi-ethnic society with a very high degree of globalization and diverse levels of consumption. Consumers are more tolerant of different types of products and services. So it is relatively easy for overseas companies to find vertical segments (that is, specific target audiences) in the US market.
3. American culture promotes innovation and entrepreneurship. Due to the diversity of consumer groups in the U.S. market, consumers are open to new and unique products and innovative solutions. In short, the American market tolerates trial and error, which also gives more opportunities to innovative companies. Overseas enterprises can constantly try new ideas and methods in this market, and carry out innovative product development and business model experiments.
Therefore, for overseas companies, the United States market is a very good choice because of its huge market capacity, good inclusiveness and cultural atmosphere that encourages innovation.

Third, when overseas enterprises compete with local enterprises, what are the competitive shortcomings? How to overcome it?
1, the recognition and reputation of the sea brand is low, it is recommended to focus on technology driven products
Chinese companies may have relatively low brand recognition and reputation in the North American market compared to local companies and some well-known multinational companies in the United States. Building trust and building a good brand image takes more time and investment.
American consumers are very loyal to brands, and for Chinese companies to successfully enter the US market, there is an opportunity to create new product categories, and this new category must be supported by a continuous iteration of technology. Once the lack of technical support, such as in the field of cosmetics and food, Chinese companies to build a brand that can enter millions of households in the United States from scratch will face greater difficulties than focusing on technology-driven iterative products.

2, the legal and compliance requirements are high, it is recommended to find a mature professional financial and tax company
North America has its own set of strict legal and compliance systems, especially in the area of finance and taxation, including tax requirements, tax filings and tax obligations. When Chinese overseas enterprises operate in North America, they must be familiar with the local financial and tax regulations, and ensure that the relevant financial and tax obligations are fulfilled on time and accurately. This requires working with an accounting firm or a professional tax adviser to ensure that the business is operating in compliance with financial and tax requirements

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