Blackmores CEO lauds benefits of event participation

Alastair Symington, CEO of Blackmores, a renowned Australian brand for vitamin, mineral and nutritional supplements, expressed confidence in the potential of the Chinese market while attending the sixth China International Import Expo from Nov 5-10 in Shanghai.

In an exclusive interview with China Daily, Symington praised China's commitment to opening its market to high-quality products and services from around the world via the CIIE, which has created a mutually beneficial environment for both domestic and international businesses.

Symington emphasized the significance of the CIIE as a platform for knowledge exchange and learning about the latest industry trends, innovations and best practices. He said the sharing of ideas and expertise contributes to the growth of international trade and fosters cooperation and understanding between China and the global community.

During the expo, Blackmores showcased its latest products and launched its Health Education Book for Chinese Career People in collaboration with Tsinghua University's Center for International Communications Studies. The aim of the book is to improve the health literacy of Chinese people.

Symington said that after more than a decade of doing business here, Blackmores considers China one of its three strategic markets as well as its largest outside Australia, and noted the company has participated in all six editions of the CIIE since the expo's inception in 2018. The CEO also pointed out that despite global challenges, Blackmores has experienced growth in the Chinese market, outperforming the company's overall performance. He attributes much of that success to the company's participation in the CIIE.

The expo has provided tangible benefits to Blackmores by enabling the introduction of a diverse range of health products to Chinese consumers and facilitating the establishment of new collaborations with Chinese partners, Symington said, adding that those opportunities have further strengthened the company's presence and growth in the Chinese market. He remains optimistic about Blackmores' prospects here, citing growing health awareness among Chinese consumers and the continuous growth of the domestic healthcare market.

"With the largest and fastest-growing middle class in the world, China represents a significant market opportunity. The increasing purchasing power and health awareness of Chinese consumers make it an ideal market for companies in the health and wellness sector," Symington said.

China's unparalleled e-commerce maturity, driven by tech-savvy consumers and a well-established digital infrastructure is among factors conducive to market growth, according to the CEO. "The level of e-commerce maturity in China is unmatched by any other market," he noted. "This has created a thriving online market and offers great opportunities for Blackmores and other foreign companies to connect with consumers through various digital platforms."

In response to the evolving needs and preferences of Chinese consumers, Blackmores established an innovation center in Shanghai in 2020.