Transfer to domestic sales: how to look at domestic market opportunities

In recent years, the spring breeze of entrepreneurship has swept across the nation, turning it into a hot topic that everyone is talking about. Whether on TV, in newspapers, or online, there's constant coverage of entrepreneurial policies, success stories, and people are actively discussing their own business plans. Starting an international trade business is also considered a form of entrepreneurship. Some may wonder: if domestic trade isn't going well, why try international trade? Isn't it like trying to walk before you can run? Many foreign trade companies that have shifted to domestic sales, or are planning to do so, have different motivations. However, their underlying goals can generally be categorized into three types: first, hoping to "walk on two legs" by balancing both domestic and international markets; second, aiming to utilize production capacity more effectively; and third, seeking a strategic position in the domestic market. Because of these differing starting points, the outcomes of such transitions will vary significantly. For companies that shift to domestic sales due to declining foreign trade profits or uncertain prospects, this strategy is often reactive rather than proactive. Once foreign trade improves, these businesses might revert back to focusing solely on exports, making the risk of failure higher in this scenario. On the other hand, companies that shift to domestic sales with the goal of leveraging their existing design capabilities, production resources, and supplier networks often take a more balanced approach. They see domestic expansion as a way to strengthen their overall operations, which in turn supports their international business. This kind of "two-legged" strategy—where both domestic and foreign trade are equally prioritized—is much more sustainable and less risky. For those foreign trade enterprises determined to establish a strong presence in the domestic market, the focus is on long-term growth and balance. These companies often invest significant resources, set up separate entities, or form joint ventures to enter the domestic market. Their products may not directly overlap with their export lines, and their domestic operations may function independently. This independence reduces the risk of failure. With over 300,000 foreign trade companies in China, many are currently or will soon face the challenge of transitioning to domestic sales. Before making such a move, it's crucial to carefully evaluate the opportunities and risks involved. From a macro perspective, the domestic market offers vast business opportunities. As one saying goes, in China, it’s not uncommon for a glass of milk, a bottle of water, or a bottle of shampoo to generate billions in revenue. Many successful companies have thrived here, not only through effort but also because of the unique opportunities presented by the Chinese market. China is expected to continue growing at a steady pace, provided peace is maintained and internal stability is preserved. This means new business opportunities will keep emerging, creating room for more successful enterprises to rise. The marketing potential in the domestic market serves as a key enabler for foreign trade companies looking to expand domestically. It's one of the main reasons many have already made the transition or are considering it. In my book *The Fourth Wave of Marketing*, I outlined five major sources of opportunity in the domestic market from a macroeconomic standpoint. First, China's large population, combined with the hard work and intelligence of its people, creates fundamental opportunities. With over 1.3 billion people, China accounts for more than one-fifth of the world's population. There are over 100 cities with populations exceeding one million, compared to just nine in the U.S. and 36 in Europe. The population of most Chinese provinces surpasses that of entire European countries.

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