As a world-renowned sports brand, adidas has been in the limelight in the Chinese market. However, in recent years, Adidas has suffered a huge setback, with continuous declines in performance, and a loss of 11.3 billion in the last three months, and the value of the entire company has also shrunk significantly. This series of questions has raised people's attention to what caused Adidas' failure in the Chinese market
Adidas' decline in the Chinese market is not accidental, but has its deep-seated reasons. First, Adidas has a growing number of competitors in the Chinese market, including a series of international brands such as Nike, as well as some local brands. In the face of fierce competition, Adidas' product innovation has not been able to meet the increasingly diverse needs of Chinese consumers. At the same time, Adidas was also hit by the ** turmoil. In the "Xinjiang cotton incident", Adidas' senior personnel publicly expressed disrespect and discrimination against China, which caused strong dissatisfaction among the majority of Chinese consumers. The incident has severely damaged Adidas' image, leading to a boycott of the brand by Chinese consumers.
In order to make up for the losses and regain its performance, Adidas' new CEO Björn Guldenma is actively seeking cooperation with the Chinese market. He personally traveled to China to apologize to Chinese consumers and propose a localized product strategy. In addition, some foreign companies have begun to notice the potential of the Chinese market and have adopted a strategy to actively cater to the Chinese consumer market. Taking the field of biotechnology as an example, some foreign companies have launched health care products for the Chinese market, which are more targeted and accurate, and have been warmly welcomed by consumers. This shows that localization strategies and product innovation for the Chinese market are the keys to success.
To return to the Chinese market and regain the hearts and minds of consumers, adidas and other big international brands need to find a new positioning that respects the characteristics and needs of the Chinese market. First of all, they should increase product innovation and launch products that are more in line with the tastes of Chinese consumers. Chinese consumers are increasingly fashion-conscious, and they want to have a unique personality and style. Therefore, brands such as Adidas should focus on developing more creative and fashionable products to meet the Chinese consumer's pursuit of personalization.
Second, Adidas and other big international brands should strengthen their understanding of the Chinese market and pay attention to localization strategies. The Chinese market has unique cultural and consumption Xi, and only by understanding and respecting these characteristics can we truly win the favor of Chinese consumers. In terms of product design, marketing and sales channels, Adidas can adjust accordingly according to the characteristics of the Chinese market to meet the needs of consumers.
Finally, Adidas and other big international brands should reinvent their brand image and establish a good corporate image and values. Over the past few years, Adidas' brand image has been severely damaged and needs to be rebuilt through aggressive PR campaigns and social responsibility fulfillment. At the same time, Adidas can also cooperate with local Chinese brands to achieve a win-win situation with the help of its influence and resources in the Chinese market.
Adidas' failure in the Chinese market is not only a company's problem, but also a reflection of the challenges and opportunities faced by foreign companies in China. The Chinese market is large and complex, with diverse consumer needs, and success can only be achieved if we truly understand and respect the Chinese market. In addition, foreign companies should strengthen cooperation with the Chinese market and leverage the influence and resources of local Chinese brands to achieve a win-win situation. In the current context of fierce competition in the international market, foreign companies should continue to innovate, strengthen cooperation with the Chinese market, and formulate products and marketing strategies that meet the needs of Chinese consumers to achieve sustainable development and long-term success.