STORY: China's consumer reality inspires Ferrero's global strategy: Global Marketing President
SHOOTING TIME: Jan. 16, 2024
DATELINE: Jan. 26, 2024
LENGTH: 00:01:54
LOCATION: SHANGHAI, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of an exhibition of the Ferrero Group and its products
2. SOUNDBITE (English): JEROME GRAY, President of Global Marketing Premium Chocolate, Ferrero

STORYLINE:

For many global companies, China remains an attractive and crucial market.

Among them is Italy's confectionery giant Ferrero.

According to Jerome Gray, President of Global Marketing Premium Chocolate at the Ferrero Group, the Chinese market is very advanced when it comes to new sales channels.

Ferrero can learn from consumer reality in China to develop their global strategy.

SOUNDBITE (English): JEROME GRAY, President of Global Marketing Premium Chocolate, Ferrero
"My last trip actually in China was four years ago, and I'm very happy to be back now to witness the fantastic atmosphere of the Chinese New Year.
We see a strong recovery after COVID, and we also see that consumers are having rising expectations towards our brands. People want just more than just a product, they want really an experience, they want emotions. This is what we would like to deliver to our Chinese consumers. It's such an important market for us, not only in Asia, it's one of the biggest. This market is very advanced when it comes to new channels like e-commerce. There is a lot we can learn from consumer reality here in China to inspire also our strategy worldwide.
I think the advanced digital shopping experience in China is a fantastic place for us to understand the dynamics of this way to interact with consumers. What I see in this trip is the acceleration of the change of Chinese shoppers. For instance, quick commerce. This concept of being delivered within 30 minutes. Chinese expectation and Chinese standard for us is a benchmark in terms of satisfying the very high-quality expectation of consumers that help us understand also how to operate in other contexts."

Xinhua News Agency correspondents reporting from Shanghai, China.
(XHTV)