Market Updates
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Chinese consumers buy more domestic brands in midyear 618 shopping festival as trade war rages on
Consumers in China have shifted to buying more goods from domestic brands in the country’s annual midyear online shopping festival amid the escalating trade war with the US. Chinese home appliance brands Supor, Midea Group and Joyoung saw their combined sales increase fourfold during this week’s 618 shopping festival, compared with a year ago, according to group-buying platform Pinduoduo. State-owned dairy products company Yili Group and Honor, a smartphone unit under Huawei, were among the home-grown brands that sold more than 100 million yuan (US$14.5 million) each on Tmall during the shopping event. About 60% of brands that reached that sales milestone were Chinese brands.
How Fewer Chinese Grads in the US Will Hurt the Luxury Sector
According to China’s Ministry of Education, 90% of students living abroad pay full-tuition using personal or family funds. They belong to China’s affluent second generation, who are estimated to have contributed $11.5 billion to the American economy in 2018 in a multitude of sectors like housing, automotive, high-end fashion, and, of course, education. But warnings from the Chinese Ministry of Education about studying in the US will affect the number of students and with that hurt the sectors they have been benefitting from that.
China Warns Citizens Against Traveling To The U.S.
It is happening, the Trade War is affecting Tourism, at least for the people that value Government warnings and advise. China advised its citizens against traveling to the U.S. on Tuesday, citing recent increases in crime and harassment. A professor studying international business at San Diego State University told Forbes the move is clearly aimed at gaining leverage in trade negotiations.
WeChat Celebrates China’s Children’s Day With 5 Awesome Luxury Campaigns
Children’s Day is celebrated across the country. This special day took place on June 1 in China. Nearly all kindergarden and elementary schools take a half-day off just to commemorate the festival with the kids and their respective parents. To celebrate this holiday, various luxury brands brought up WeChat campaigns that caught the attention of many users as they aim to build an emotional connection with the parents in China. This article lists a few.
Pop Idol Alliances Key for Beauty Engagement in China: Gartner L2
According to new research, 84 percent of all premium beauty brand engagement on Weibo is driven by posts featuring celebrities. Celebrity is a key growth driver for beauty brands in China. For instance, Estée Lauder products that were mentioned and linked by celebrities saw a 723 percent growth in sales. Hugely popular in China are pop idols, and their influence also boosts engagement on Weibo. Lancôme worked with TFBoys member Wang Junkai on a Weibo campaign, generating traffic towards Tmall and consumer interaction. The two posts created with the pop star each saw more than 4 million engagements.
What are Weibo’s “super topics”
We are sure everyone is familiar with the Chinese social media platform weibo (similar as twitter), but how many of you knowing about the difference between general “#” and a super topics? In this article mentioned about the most important things about Weibo’s super topics.
What is Yunji? And what can we learn from its IPO?
You might not have heard of Yunji, one of the latest giants of Chinese social commerce. Yet, it just went IPO on the Nasdaq, raising $121 million USD. Who is this new booming social commerce company? Like Pinduoduo, Yunji is a social commerce company relying mostly on WeChat sharing in order to generate sales. However, unlike Pinduoduo, Yunji uses a decentralized network of “members” who help sell products.
How young Chinese consumers are reshaping global luxury
Global brands face new opportunities as luxury represents a powerful form of social capital for young Chinese consumers. Set to be the engine of global spending on high-end shoes, bags, fashion, jewelry, and watches, China’s affluent upper-middle class presents an enticing prospect for the world’s designer brands. In fact, Chinese luxury spending is expected to double to 1.2 trillion RMB by 2025, delivering 65 percent of growth in the market globally
Chinese consumers buy more domestic brands in midyear 618 shopping festival as trade war rages on
Consumers in China have shifted to buying more goods from domestic brands in the country’s annual midyear online shopping festival amid the escalating trade war with the US. Chinese home appliance brands Supor, Midea Group and Joyoung saw their combined sales increase fourfold during this week’s 618 shopping festival, compared with a year ago, according to group-buying platform Pinduoduo. State-owned dairy products company Yili Group and Honor, a smartphone unit under Huawei, were among the home-grown brands that sold more than 100 million yuan (US$14.5 million) each on Tmall during the shopping event. About 60% of brands that reached
How Fewer Chinese Grads in the US Will Hurt the Luxury Sector
According to China’s Ministry of Education, 90% of students living abroad pay full-tuition using personal or family funds. They belong to China’s affluent second generation, who are estimated to have contributed $11.5 billion to the American economy in 2018 in a multitude of sectors like housing, automotive, high-end fashion, and, of course, education. But warnings from the Chinese Ministry of Education about studying in the US will affect the number of students and with that hurt the sectors they have been benefitting from that.
China Warns Citizens Against Traveling To The U.S.
It is happening, the Trade War is affecting Tourism, at least for the people that value Government warnings and advise. China advised its citizens against traveling to the U.S. on Tuesday, citing recent increases in crime and harassment. A professor studying international business at San Diego State University told Forbes the move is clearly aimed at gaining leverage in trade negotiations.
WeChat Celebrates China’s Children’s Day With 5 Awesome Luxury Campaigns
Children’s Day is celebrated across the country. This special day took place on June 1 in China. Nearly all kindergarden and elementary schools take a half-day off just to commemorate the festival with the kids and their respective parents. To celebrate this holiday, various luxury brands brought up WeChat campaigns that caught the attention of many users as they aim to build an emotional connection with the parents in China. This article lists a few.
Pop Idol Alliances Key for Beauty Engagement in China: Gartner L2
According to new research, 84 percent of all premium beauty brand engagement on Weibo is driven by posts featuring celebrities. Celebrity is a key growth driver for beauty brands in China. For instance, Estée Lauder products that were mentioned and linked by celebrities saw a 723 percent growth in sales. Hugely popular in China are pop idols, and their influence also boosts engagement on Weibo. Lancôme worked with TFBoys member Wang Junkai on a Weibo campaign, generating traffic towards Tmall and consumer interaction. The two posts created with the pop star each saw more than 4 million engagements.
What are Weibo’s “super topics”
We are sure everyone is familiar with the Chinese social media platform weibo (similar as twitter), but how many of you knowing about the difference between general “#” and a super topics? In this article mentioned about the most important things about Weibo’s super topics.
What is Yunji? And what can we learn from its IPO?
You might not have heard of Yunji, one of the latest giants of Chinese social commerce. Yet, it just went IPO on the Nasdaq, raising $121 million USD. Who is this new booming social commerce company? Like Pinduoduo, Yunji is a social commerce company relying mostly on WeChat sharing in order to generate sales. However, unlike Pinduoduo, Yunji uses a decentralized network of “members” who help sell products.
How young Chinese consumers are reshaping global luxury
Global brands face new opportunities as luxury represents a powerful form of social capital for young Chinese consumers. Set to be the engine of global spending on high-end shoes, bags, fashion, jewelry, and watches, China’s affluent upper-middle class presents an enticing prospect for the world’s designer brands. In fact, Chinese luxury spending is expected to double to 1.2 trillion RMB by 2025, delivering 65 percent of growth in the market globally
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