Zak Dychtwald, Part 2 | China's Youth - A Restless Generation Changing The World

<p><strong>Topics Discussed and Key Points:</strong></p><p>●      What brands can do if they want to succeed in China among the millennial and Gen-Z cohort</p><p>●      Major events that have impacted Chinese millennials similar to the Great Recession in the U.S.</p><p>●      What are the differences between millennials who grew up in the Mainland and those who studied abroad?</p><p>●      How prevalent is conspicuous consumption in the life of the average 25-to-30-year-old Chinese individual?</p><p>●      What makes a good brand in China?</p><p>●      How environmentally conscious and focused on diversity and inclusion are Chinese millennials?</p><p><strong> </strong></p><p><strong>Episode Summary:</strong></p><p>Today on The Negotiation, we continue our conversation with Zak Dychtwald, Founder and CEO of Young China Group, a think tank and consultancy with a focus on the emerging influence of China’s millennial generation on the marketplace, workplace, and international politics.</p><p>Zak is the author of <a href="https://www.amazon.com/Young-China-Restless-Generation-Country/dp/1250078814"><em>Young China: How the Restless Generation Will Change Their Country and the World (2018)</em></a>. The book explores questions of <em>identity</em> impacting China’s young generation, specifically the 420 million or so people born after 1990.</p><p>Asked about what separates the winning foreign brands from the rest of the pack when it comes to finding millennial and Gen-Z fans in China, Zak says that it comes down to “empowering your local Chinese team to drive strategy.”</p><p>However, the difficult task for local teams when working with multinationals is that they will almost always work slower than native Chinese teams with native Chinese executives who understand, intuitively, what the Chinese market looks like.</p><p>Another point is to “stop creating products and thinking about marketing to Tier 1 cities.” Trends do not necessarily trickle down from Beijing or Shanghai to Hangzhou or Chongqin. Recognizing