At the end of 2022, the three-year epidemic was over in China. Chinese consumers will be looking forward to and preparing for the return to normalcy in their work and life. All these will stimulate the long-dormant consumer enthusiasm in 2023 when the consumer market will achieve a "gradual rebound." What are key consumer purchasing trends that we need to keep a close eye on in the next year? 1. Maintain prudent consumption for value for money and quality of…
1. The Chinese Mainland luxury market with continuous and moderate growth According to Bain & Company, the overall luxury market in Chinese Mainland is booming in 2021, with the personal luxury market doubling in size compared to 2019. After achieving 48% growth in 2020, the Chinese mainland luxury market is expected to achieve 36% growth for the full year 2021, reaching nearly RMB 471 billion ($74billion). The growth rate differs greatly among brands, ranging from 10% to 70%. The growth…
1. The fitness boom has arrived in China! China is all about sports, not least because of the Winter Olympics in February 2022. Social networks, e-commerce and the Chinese government are driving the fitness boom in China. At the forefront: influencers like Liu Genghong, who offers the Chinese an online workout at home via livestream. The trend is reflected in statistics such as the total production value of the sports industry. The number of gyms in China has increased dramatically…
Green China Climate change is a threat to the entire world. While the trend of a sustainable lifestyle is becoming more and more important, this is also the case in China. Environmental protection in China is becoming cool and fashionable.More than 90% of Chinese respondents recognize the value of environmental protection and sustainable development. This figure is also reflected in the purchasing and consumption behavior of many Chinese. More and more consumers are paying attention to using products frequently and sustainably.As environmental…
1. China's rapidly developing camping industry in the post-epidemic era According to iiMedia Research, in 2021, the core market size of China's camping economy has reached 74.75 billion RMB, up 62.5% year-on-year; the driving market size is 381.23 billion RMB, with a year-on-year growth rate of 58.5%. As of October 2021, there are nearly 37,000 camping-related companies, with 40% established in 2021. The enthusiasm of Chinese consumers for camping is unprecedented, with a 258% increase in hot search heat in…
Gen Z in China GenZ is the future core proponent of China’s domestic consumption! Who is Gen Z? What makes the Chinese Gen Z so special? What do marketers need to know to win GenZ in China? 1. Who is Gen Z? Generation Z (Gen Z) refers to people born between around 1997 and 2012. This time span can slightly vary depending on the definition and continent. In Asia, for example, the period between 1996 and 2010 is referred to…