60 percent of Chinese consumers also say that they are willing to pay more for products labeled “Made in USA” than for those labeled “Made in China”
It is no surprise that 80 percent of U.S. consumers vote for American-made. But over 60 percent of Chinese consumers also say that they are willing to pay more for products labeled “Made in USA” than for those labeled “Made in China,” according to new research released by The Boston Consulting Group (BCG). In surveying Chinese consumers, BCG found a willingness to pay more for U.S.-made goods. The results showed the following:
More than 60 percent of Chinese consumers are willing to pay more for Made in USA goods.
Nearly 50 percent of Chinese consumers prefer a product made in the U.S. to a China-made product of equivalent price and quality.
The premium that Chinese consumers are willing to pay ranges from about 10 percent to almost 80 percent in the categories tested.
More than half had chosen U.S.-made products over less expensive Chinese goods at least once in the month before the survey.
The data shows that Made in the USA resonates even stronger for U.S. consumers, of course. Naturally, this presents a great opportunity for the many small businesses and manufacturers to tap into a new market like China with over a billion people. Many have tried to tap overseas markets only to fail because of the cultural differences, government red tape (on both sides), and shipping logistics, just to name a few of the challenges. The good news is there are many international trade resources for navigating this complex arena.
http://www.forbes.com/sites/tjmccue/2012/11/19/made-in-america-has-a-new-ring/#17c93dd21b85