The future of retail in China: e-commerce vs physical stores in 2026
In 2025, China sold RMB 13.09 trillion of physical goods online, 26.1% of total retail sales, according to the National Bureau of Statistics (NBS). In the first half of 2026, the share was about the same, around 25.9% (our calculation from NBS data). Ten years of “online will eat everything” have ended on a plateau. […]
Rolex in China: why the crown is taking control of retail and resale
Updated in October 2026. First published in September 2019. Rolex in 3 figures CHF 11.0 bn Estimated Rolex sales in 2025, up 4% (Morgan Stanley and LuxeConsult) 32.9% Rolex share of Swiss watch retail value in 2025 USD 229 m Certified pre-owned sales in Q3 2026, up 61% (global estimate) There is a saying in […]
Distribution in China in 2026: where the growth is and how to capture it
China is a RMB 50 trillion retail market, and the channels that sell the most change every two or three years. For a foreign brand, distribution is where the growth is won or lost. Updated on 3 September 2026. First published in July 2012. RMB 50.1 trn Retail sales of consumer goods in 2025 (NBS) […]
Group buying in China: Meituan exits community group buying as Pinduoduo’s Duoduo Maicai takes over
Meituan has left community group buying, and Pinduoduo’s Duoduo Maicai now runs it almost alone. Fourteen years after China’s group-buying website war, the idea survives inside three apps, each with its own economics. Updated on 2 September 2026. First published in July 2012. By the Daxue Consulting team. Meituan Youxuan, the community group-buying arm of […]
Wine distribution in China: from banquets to delivery apps
China imports far less wine than at its peak, but at higher prices per litre, and the channels that sell it have shifted from banquets and hypermarkets to e-commerce, instant retail and membership stores.
Flower market in China: From festival gifting to everyday emotional consumption
While flowers remain important within Chinese gifting habits, market growth is increasingly being driven by daily consumption. In China’s emotional purchase economy, flowers are playing a more important role in bringing comfort, happiness, and a sense of healing into everyday life. Consumers either gift flowers for themselves or for others on non-special occasions, creating small […]
How China’s stricter regulations reshape, not replace, vaping in China
China’s vaping market used to be fast-growing and free-for-all. Now it’s a tightly controlled, state-run system. Retail sales peaked at RMB 19.7 billion (USD 2.9 billion) in 2021 and then shrank to USD 2.67 billion. Rather than suppressing the market, strict regulations just changed how brands compete. Today, there are two markets running side by […]
Yuesai in China: how L’Oréal’s Chinese premium brand cut 800 counters and started again
Yuesai shows what it takes for a global group to revive a Chinese heritage brand: a smaller network, a new hero product built on global science, and a much younger audience that is still to be won.
RTD market trends in China: The emergence of a health-conscious consumer
Four criteria influence Chinese beverage consumers’ decisions (N=1,168, 2026 April) when purchasing ready-to-drink (RTD) drinks. When asked to select influencing factors (multiple choice), 41% cited taste, while 35% cited each of safety, health attributes, and functional benefits. And finally, functional benefits at 35%. It is reasonable to assume that a beverage combining these various requirements […]
174,000 openings, 137,000 closures in a year: The evolution and uncertain future of Chinese modern tea sector
The Chinese modern tea sector has matured significantly since 2020, completing a transition from a volume-driven expansion model to a quality-focused era. In terms of growth, we can see this reflected in the shift from an average growth rate of 24.9% CAGR between 2017 and 2022 to a growth rate of 6.4% in 2024. The […]
Convenience stores in China: What’s becoming more important beyond convenience
In China’s convenience store industry, companies face rising price sensitivity, traffic shifting to discount snack stores, and intensifying competition from instant retail. In 2025, although 66.1% of companies achieved year-over-year sales growth, the momentum slowed compared to the previous two years. 81.4% and 70% of companies experienced growth in 2023 and 2024, respectively. Sales growth […]
The olive oil market in China: Driven by health-oriented consumers
Olive oil in China has long been called “liquid gold.” It is cold-pressed directly from fresh olives without heating or chemical processing, preserving its natural nutrients. Olive oil is considered one of the most nutritionally beneficial fats discovered to date. Primarily because it is rich in oleic acid, a monounsaturated fatty acid, which accounts for […]