Reckitt's Kris Licht on moving at 'China speed'
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Reckitt's Kris Licht on moving at 'China speed'
"“Store checks in China today don't make a lot of sense, because there are not that many people shopping in the stores,” the consumer goods group's CEO explains."
"“Instead, phone screens are rapidly replacing stores as the place where Chinese consumers buy their condoms, disinfectant, and dishwasher detergent.”"
"“Just six years ago, ecommerce accounted for only 30% of Reckitt's sales in China. Now, ecommerce and social commerce sales combined make up 80% of the total - a transformation that Licht describes as 'an early sign of where the rest of the world may go' in time.”"
"“Consumers are liking and commenting and buying and clicking, so we have live feedback, [in] real-time,” Licht explains."
Reckitt’s brands are growing in China, with nearly £1 billion in revenue and 11 consecutive quarters of double-digit growth. Store visits are less useful because fewer people shop in physical stores. Chinese consumers increasingly buy condoms, disinfectant, and detergent through phone screens. Social commerce on platforms such as TikTok drives purchases after users watch product demonstrations. Ecommerce and social commerce together now account for 80% of Reckitt’s China sales, up from 30% six years earlier. Reckitt produces continuous, science-focused content from studios in Shanghai and monitors real-time consumer reactions through likes, comments, clicks, and purchases.
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