Market Updates
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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
Why the Female Power Suit Is the Next Big Business in China
In the West, women’s suits have had cultural momentum during the 1970s’ feminist movement. In 2019, the Chinese TV series “All is Well,” featuring actress Yao Chen dressed in a suit most of the time, underlines China’s suit trend. There are now over 4,600 posts under the hashtag # Su Mingyu outfit”(acted by Yao Chen) on Xiaohongshu ( littleredbook ) that analyze the character’s fashion choices from head to toe. According to the “2019 China Fashion Data Report” issued by Alibaba, “suits” was female shoppers’ top-searched keyword on Taobao last year, with the sales volume of women’s suits surpassing that of men’s suits for the first time on January 27, 2019. For any brand that wants to stay relevant in China’s she economy, taking this social shift into account would be crucial for delivering the next truly empowering message.
Culture Marketing Is the Secret Weapon for Success in China
The way fashion is consumed has changed significantly over the last decade. Previously, brands were the market influencers, and their power wasn’t challenged. But with the emergence of the China market, which has its own specific rules and an even more democratic social media approach, fashion brands need new marketing approaches to meet the needs of this new and hard to approach audience. One wrong approach could ruin whole brand’s image build up for a long time. If you are not sure how to target right audience in the China market. Talk with us to get a free consult.
The Commercial Opportunity of Gender Fluidity
The global rise of gender fluidity indicates a growing desire to embrace personal exploration beyond the narrow identity codes of masculinity and femininity. Today, toxic masculinity or passive femininity can be replaced with new types of roles: sensitive men or strong women. These new concepts represent a positive step forward, and Chinese consumers can be more of a man or woman today by embracing who they actually are rather than the restrictive gender norms of the past. But what does this mean from a commercial business perspective? Continue reading to find out!
The Rising Potential of China’s New Seniors
China is no exception when it comes to millennial obsession. However, a closer look reveals that elderly people (defined as over-60s) represent the fastest growing generational group in China. This group accounts for over 170 million people, representing more than a quarter of all Chinese households. And they are experiencing Life after parenthood, live more Pragmatic and healthier lives, and they are exploring new social encounters. For example, research has shown that China’s middle age and senior travelers make up 46% China’s outbound tourists, but are frequently forgotten as a result of the hype around millennial travelers. Marketers should take this as an opportunity to diversify from the competitive millennials market.
Online accounted for 21.2% of total consumer retail sales in Jan, Feb 2019
Did you think the retail market in China was big already? Think again! In the first two months of 2019, total retail sales of consumer goods in China grew by 8.2% year-on-year to 6,606.4 billion yuan (US$984.49bn). The total retail sales in China is projected to exceed US$5.6 trillion in 2019 and over 63% by 2022. That is just 3 years from now! That assumption indicates there is ample room for brands and marketers to come alone with good products and creative marketing ideas to seize a corner in this massive market. But make sure you are well prepared, know what is right and wrong in China, and know who your target audience is. Because the China market is ruthlessly competitive and it’s consumers unforgiving.
China has big plans for Fitness
The rise of athleisure is the materialization of a bigger phenomenon which has been spreading out across sectors. From healthy food to sports accessories, emerging brands have been challenging the status quo of established brands. So many brands have to reevaluate and change the way they market their products to Chinese consumers. Thanks, in part, to this nationwide push for healthier lifestyles, fitness has been a rising focus for the KOLs in China，especially in China’s first and second-tier cities.
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
Why the Female Power Suit Is the Next Big Business in China
In the West, women’s suits have had cultural momentum during the 1970s’ feminist movement. In 2019, the Chinese TV series “All is Well,” featuring actress Yao Chen dressed in a suit most of the time, underlines China’s suit trend. There are now over 4,600 posts under the hashtag # Su Mingyu outfit”(acted by Yao Chen) on Xiaohongshu ( littleredbook ) that analyze the character’s fashion choices from head to toe. According to the “2019 China Fashion Data Report” issued by Alibaba, “suits” was female shoppers’ top-searched keyword on Taobao last year, with the sales volume of women’s suits surpassing
Culture Marketing Is the Secret Weapon for Success in China
The way fashion is consumed has changed significantly over the last decade. Previously, brands were the market influencers, and their power wasn’t challenged. But with the emergence of the China market, which has its own specific rules and an even more democratic social media approach, fashion brands need new marketing approaches to meet the needs of this new and hard to approach audience. One wrong approach could ruin whole brand’s image build up for a long time. If you are not sure how to target right audience in the China market. Talk with us to get a free consult.
The Commercial Opportunity of Gender Fluidity
The global rise of gender fluidity indicates a growing desire to embrace personal exploration beyond the narrow identity codes of masculinity and femininity. Today, toxic masculinity or passive femininity can be replaced with new types of roles: sensitive men or strong women. These new concepts represent a positive step forward, and Chinese consumers can be more of a man or woman today by embracing who they actually are rather than the restrictive gender norms of the past. But what does this mean from a commercial business perspective? Continue reading to find out!
The Rising Potential of China’s New Seniors
China is no exception when it comes to millennial obsession. However, a closer look reveals that elderly people (defined as over-60s) represent the fastest growing generational group in China. This group accounts for over 170 million people, representing more than a quarter of all Chinese households. And they are experiencing Life after parenthood, live more Pragmatic and healthier lives, and they are exploring new social encounters. For example, research has shown that China’s middle age and senior travelers make up 46% China’s outbound tourists, but are frequently forgotten as a result of the hype around millennial travelers. Marketers should
Online accounted for 21.2% of total consumer retail sales in Jan, Feb 2019
Did you think the retail market in China was big already? Think again! In the first two months of 2019, total retail sales of consumer goods in China grew by 8.2% year-on-year to 6,606.4 billion yuan (US$984.49bn). The total retail sales in China is projected to exceed US$5.6 trillion in 2019 and over 63% by 2022. That is just 3 years from now! That assumption indicates there is ample room for brands and marketers to come alone with good products and creative marketing ideas to seize a corner in this massive market. But make sure you are well prepared,
China has big plans for Fitness
The rise of athleisure is the materialization of a bigger phenomenon which has been spreading out across sectors. From healthy food to sports accessories, emerging brands have been challenging the status quo of established brands. So many brands have to reevaluate and change the way they market their products to Chinese consumers. Thanks, in part, to this nationwide push for healthier lifestyles, fitness has been a rising focus for the KOLs in China，especially in China’s first and second-tier cities.
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