Data released by the JD Big Data Research Institute on Feb. 9 indicates, sales of prepared versions of Chinese New Year dinner must-haves are significantly higher than before. Sales of a one-person serving of the traditional delicacy Buddha Jumps over the Wall have increased four times. Some consumers have gone all out – sales of set meals of auspicious CNY dishes are up 3.5 times.

The top 30 Chinese mobile game publishers reported a surge in revenue last month thanks to their overseas market expansion. These game developers raked in over $2.3 billion in worldwide revenues in January, a surge of 47.3 percent year on year, according to Sensor Tower, a mobile app data analysis firm.

A growing number of multinational companies are foraying into China’s esports sector, vying for a piece of the booming market topping the world with more than 20 billion US dollars in revenue and hundreds of millions of avid players. Global furniture retail giant IKEA on Friday crossed into the gaming world by debuting its home furnishings collection designed for esports gamers, including tables, chairs, storage boxes, and other accessories, in Shanghai.

Over recent years, young Chinese have become increasingly disillusioned with the gruelling work schedules and cutthroat competition that come with living in the country’s major cities, leading many to embrace a range of alternative lifestyles — from extreme saving, to hermit culture and alternative food networks.

Morgan Stanley analysts predict China’s private consumption is set to more than double to reach $12.7 trillion by 2030. Private consumption is driven by increases in household income and urbanization.

Chinese consumers’ demand for niche beauty, particularly fragrances, has increased over the past year.

Per Tmall data, more than 1,000 brands generated over RMB100 million last year just from the sale of new products. Read on for more insights on product launches in China!

In 2020, Tmall Global listed more than 2,200 new brands and over 200,000 new SKUs. The platform’s annual active consumer numbers rose 20%, and paid GMV grew 40% year-on-year.