The ongoing 7th China International Import Expo (CIIE) has provided global businesses an opportunity to share insights on product innovation and keep up with the ever-changing demand of consumers, said Jerry Felton, CEO of Melaleuca, a U.S.-based wellness company, at the expo in Shanghai.
Melaleuca has expanded its booth size by 1.5 times compared to last year.
Building on its previous showcases of household cleaning, skincare and other regular products, this year the company is focusing on the health and nutrition market, presenting over 100 high-quality health products. Among these are two new products specifically designed for Chinese consumers: oat-based chocolate and a cereal bar made of eight black grains, both of which are making their global debut at this year's CIIE.
This marks Melaleuca's third time launching exclusive, China-specific products at the event. According to Felton, the innovative ideas behind these products stem from the connections formed and lessons learned at the CIIE.
"There is so much opportunity and CIIE gives all of us from all over the world an opportunity to come together, politicians, business people, academians and all of our vendors here to explore how to innovate and how to challenge ourselves to improve the products we make, we manufacture and provide to our customers here in China. So I think this is an awesome venue. It's a great platform for our future and [I'm] excited to be here," he said in an interview with China Central Television (CCTV) on the event grounds.
Since entering the Chinese market in 2003, Melaleuca has developed and established a comprehensive production-to-sales-to-service system. It includes 29 health lifestyle centers, two call centers, four distribution centers and two production bases.
In the next two years, the company plans to complete more than 1 billion yuan (around 139 million U.S. dollars) worth of procurement in China. The powerful spillover effect of the CIIE has further strengthened Melaleuca's commitment to the Chinese market, and the company has already signed up for the next edition of CIIE.
"China's market is so large and it's growing so fast. You've got to keep up with the market. You have to understand the demands of the consumers because they move so fast. One of the great things of CIIE is you can come here and learn from each other and understand what's being innovated and how it's working for others so that we understand the trends and we can understand how to serve the China market," said the CEO.
The 7th CIIE, which runs until Sunday, has attracted 3,496 exhibitors from 129 countries and regions this year. The event also marks a significant milestone with the participation of 297 Fortune Global 500 companies and leading industry players from around the world.