Is local adaptation the key to success in China's consumer market?

CGTN Europe spoke to Chris Pereira, founder and chief executive of consultancy firm iMpact.

00:00 - Foreign brands shift to local control in China
00:15 - Changing consumer habits and rise of homegrown brands
01:05 - Starbucks faces competition from Luckin Coffee
01:58 - Burger King, McDonald's and KFC's localization strategies
02:32 - Chinese brands expand into international markets
03:05 - Interview: Evolving consumer preferences and health trends
04:18 - Next level of localization and the balance of brand identity
05:48 - Challenges for Chinese brands entering global markets
06:51 - How Western brands can reconnect with Chinese consumers

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