Invest KOREA

'K-Consumer Goods Sourcing Day' kicks off on July 18 for 2 days at KOTRA's head office
Tmon Global, China's e-commerce giant, is invited to grace the event with its presence, while delivering a presentation and taking part in export negotiation talks

KOTRA (President Yu Jeong Yeol) holds a 2-day trade show, titled 'K-Consumer Goods Sourcing Day' on July 18. It invited e-commerce giant Tmall Global and leading logistics company Cainiao, both from China, to this event where a number of domestic consumer good companies showcase a wide range of product lines: home appliance; baby care products; cosmetic products; pet supplies. Tmall Global has its purchase managers and 5 vendors attend the trade show, who will participate in export negotiation talks with 70 Korean companies.

A briefing session on how to cater to Chinese consumers in terms with retail, logistics and certification is scheduled to run prior to the negotiation talks. Tmall Global will give a presentation on the up-to-date trend on China's consumer market and its policy about buyers and potential vendors, while Cainiao on its smart logistics solutions.

Korea Testing & Research Institute (KTR) will also show up as presenter to explain how to navigate the process of consumer product testing and certification in Beijing and its supportive measures for domestic exporters. In addition, KOTRA overseas offices located in China and Global Business Division of KTR will sign MOUs to provide supports in a more sophisticated and timely manner when helping domestic exporters obtain certificates from the Chinese authorities and overcome obstacles.

As the Chinese government has been putting efforts in bolstering consumer spending and boosting the domestic market, consumption patterns in this world's 2nd largest economy has become more personalized and gone up-market. The Pandemic also played a role here, fueling demand for dietary supplements and OTC medicines. Needless to say, better living standards among Chinese people means a shift in public spending preferences from buying-only-necessities to buying-also-luxuries, with big ticket items like digital appliances on the rise. In order to take the opportunity of the new pattern and expand the presence of Korean exporters, KOTRA will try to strengthen cooperative ties with major retailers and e-commerce businesses in China.

"KOTRA co-hosts this show with Tmall Global with two clear goals - addressing major difficulties in logistics and certification that domestic exporters frequently suffer from in China and brining more chances for them to enter the Chinese market. I hope today's gathering will give them a much-needed leg-up.", said Hong Chang-pyo, head of KOTRA's overseas office in China.



Source: Invest KOREA (Jul. 18, 2023)