Real estate ad agency Lowe’s is one of several tech companies that is expanding its marketing for its ad campaigns in China.
The ad agency has been working to reach Chinese buyers in order to boost its business and the number of units sold in China, according to Recode.
In an interview with Recode, Lowe’s vice president of digital and social media, Ryan Hynes, said the company’s Chinese partners are seeing an increased number of customers buying properties and the overall number of transactions in China is “increasing.”
He said the goal is to “expand the Chinese market” to reach a larger audience of Chinese buyers.
“China is the fastest-growing market for us in terms of sales and the growth is accelerating,” Hynes said.
Lowe’s, which is one the world’s largest real estate advertising agencies, has more than 400 employees in China and employs about 500 people.
The company is currently in the middle of a $15 million deal with Alibaba Group Holding Ltd., a company that has grown rapidly since it began advertising on China’s social media platforms, and is expected to begin launching ads in the country next month.
In the interview, Hynes also discussed how China’s government has “a different set of requirements” when it comes to real estate.
“They don’t have to be a Chinese citizen,” Hays said.
“That’s why they’re looking for a Chinese agent.
In its statement, Lowe, which said it’s already reached out to the Chinese government to discuss potential partnerships, said it plans to use “every tool” it has to reach China.”
And then there’s also a lot of Chinese people looking to move to California, and the U.S. has more of a Chinese population, and they’re very willing to pay a premium to move here.”
In its statement, Lowe, which said it’s already reached out to the Chinese government to discuss potential partnerships, said it plans to use “every tool” it has to reach China.