Market updates

As more consumers had to shop from home during the pandemic, online-to-offline sales grew by more than 50% in China last year.

A new genre of digital-native, contemporary brands we refer to as “DTC disruptors” in China have quickly eroded market share from big brands in their respective categories.

The participation of short video platforms Douyin and Kuaishou in 618, China’s second-largest e-commerce festival, are a reminder that China’s e-commerce landscape isn’t just Alibaba, JD and Pinduoduo.

250,000 merchants and brands from around the globe participated in this year’s 6.18 on Tmall, more than double last year. Of these, two-thirds expected Tmall would be their primary sales channel for 618, according to a third-party survey.

In five short years, a millennial’s flash of inspiration proved to be a game-changing model. Livestream technology has not only enhanced the shopping experience for consumers, but reshaped the face of commerce.

Analysts at Credit Suisse believe overseas luxury brands are safe from an increase in domestic brand competitiveness. The research team believes famous high-end brands are less affected than their more downmarket peers by the bloom of “Guochao” – the trend that is drawing Chinese consumers towards domestic brands.

Chinese purchased €47 billion of luxury goods on the mainland, which was roughly three times what they spent on these goods overseas.

China’s tea culture has undergone drastic changes in recent years as companies have rebranded the once-staid beverage as a high-end, fresh, and healthy consumer experience. The resulting products, known colloquially as “new-style teas,” are big business. 

China’s imports of cosmetics from Japan in 2020 soared more than 30 percent from the previous year to about $4.3 billion, surpassing $3.3 billion from South Korea and other major suppliers such as France and the United States, according to the Japan External Trade Organization.

A consumer expo in Hainan underscored that Hainan’s free trade port will likely become the largest free-trade port in the world, as long as its current growth trajectory continues.