Growth strategies focus on brand-building, improved quality and efficiency
HONG KONG, Feb. 18 /PRNewswire-Asia-FirstCall/ -- China's suppliers remain optimistic about sales growth prospects in 2009, with 47% of executives expecting sales growth of 10% or more in 2009. This is according to a survey conducted by Global Sources' (Nasdaq: GSOL) Chief Executive China magazine ( http://www.ceconline.com ) early this month.
(Logo: http://www.prnasia.com/sa/200708071747.jpg )
Among suppliers selling within China, 57% expect double digit sales growth, while 36% of export-focused companies project growth greater than 10%.
Results are from senior executives of 191 companies engaged primarily in domestic sales and 202 companies focused mainly on exporting.
Enterprises outline key strategies to overcome challenges
Chief Executive China conducted a separate poll to gauge China enterprises' primary strategic responses to the current global economic crisis. As of Feb. 18, more than 8,900 readers responded:
-- 43% said they will build brands and/or increase efficiency and product
quality;
-- 21% indicated they will cut costs;
-- 20% said they will focus on the domestic market and/or emerging markets;
and,
-- 16% indicated they will expand their online channels.
Global Sources' COO, Craig Pepples, said: "With China's retail sales still strong, it's no surprise that companies focused on the domestic market remain optimistic. What's surprising is that, despite the global economic downturn, China's exporters are generally projecting much higher sales ahead.
"This optimism is, in part, due to the fact that many have already adapted to the current global economic situation and have evolved new strategies to deal with the crisis.
"Given China's increasing cost base, cost cutting is less of an option than previously. To justify higher prices, suppliers are now looking to improve quality and production efficiency while, at the same time, building their brands.
"We see this as a natural evolution, and one that is not without precedent. Japan, Korea and other Asian economies also moved up market at about the same stage in their development when faced with economic and competitive pressures."
Detailed results of the Chief Executive China 2009 Supplier Outlook & Expectations Survey are available for download at
http://www.ceconline.com/survey/CECSurvey_Feb09-Combine-Eng-Final.ppt .
About Chief Executive China magazine and website
Chief Executive China is China's leading monthly management magazine, having successfully introduced advanced management ideas to China's business professionals since 1992. As verified by BPA Worldwide's December 2008 audit, Chief Executive China has a circulation of more than 195,000 subscribers, 77% percent of whom are chairmen, CEOs, presidents, general managers, owners or other senior executives.
In terms of audited circulation, influence, brand recognition, reader loyalty and content, Chief Executive China is the leading business publication in China.
Chief Executive China Online ( http://www.ceconline.com ) is the largest and most popular management website for China's executives. It elaborates on the management topics covered in the magazine and acts as an interactive platform between peers and experts. As of December 2008, more than 1 million active registered users belong to this online community.
About Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 790,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 240 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.3 million products and more than 196,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 100 sourcing research reports and 11 specialized trade shows which run 32 times a year across 11 cities.
Suppliers receive more than 53 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.
Global Sources has been facilitating global trade for 38 years. Global Sources' network covers more than 69 cities worldwide. In mainland China, Global Sources has over 2,800 team members in more than 44 locations, and a community of over 1 million registered online users and magazine readers for Chinese-language media.
Global Sources Press Contact in Asia
Camellia So
Tel: +852-2555-5021
Email: cso@globalsources.com
Global Sources Press Contact in U.S.
James W.W. Strachan
Tel: +1-480-664-8309
Email: strachan@globalsources.com
Global Sources Investor Contact in Asia
Investor Relations Department
Tel: +852-2555-4777
Email: investor@globalsources.com
Global Sources Investor Contact in U.S.
Kirsten Chapman & Timothy Dien
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Email: tdien@lhai.com
