Sparkling shift: China’s diamond market evolution and the rise of lab-grown gems
China’s diamond market has been the world’s second-largest for over a decade. According to Statista, the Chinese diamond jewelry market was valued at approximately USD 8.8 billion in 2022. This article aims to explore the dynamic landscape of China’s jewelry market, specifically emphasizing the shifting trends within the diamond sector. Download our China luxury market report Driving […]
Luxury Co-Branding in China: High-End Brands Take Collaborations to the Next Level
In China, luxury co-branding is not just a trend; it’s an innovation powerhouse that is reshaping the market with unexpected and often surprising partnerships. Far beyond conventional alliances, these collaborations bring together brands from dramatically different sectors – from local food and beverage giants to fashion brands (like the collaboration between Fendi and HEYTEA), and […]
China’s virtual influencers now endorse brands and livestream e-commerce
Due to the growing demand for entertainment and the rapid development of technologies like artificial intelligence (AI), China’s virtual influencer industry is experiencing exponential growth. According to iiMedia, in 2022, China’s virtual influencer industry was valued at RMB 186.61 billion overall, with a core market size of RMB 12.08 billion. Projections indicate that by 2025, […]
Gucci in China: a tale of elegance and cultural connection
The luxury goods sector has experienced significant growth in China over recent decades, triggered by a remarkable surge in disposable income. Consequently, renowned international luxury brands such as Coach, Hermès, and Prada have all strategically penetrated the Chinese market, seeking to capitalize on the burgeoning demand. However, among the abundance of luxury brands vying for […]
Webtoons market in South Korea: Expanding into Netflix series, games, and beyond
South Korea, renowned for its diverse cultural exports ranging from K-pop and K-dramas to cuisine and beauty products, has another sector gaining global attention: the webtoons market. Webtoons, digital web comics originating from South Korea, have been increasingly popular both domestically and globally. With the digitalization of various industries and the widespread use of smartphones, […]
The hotel industry in South Korea: A haven of experiential delights for locals and visitors
The hotel industry in South Korea has been significantly shaped by the fascination with South Korea’s Hallyu. Initially bolstered by a surge in tourist interest, hotel businesses flourished, only to face a substantial setback following the COVID-19 outbreak, resulting in a sharp decline in revenue from KRW 9.19 trillion in 2019 to KRW 5.98 trillion […]
Why Brand Naming in China is Trickier Than You Think
Entering the Chinese market presents a tantalizing opportunity for foreign companies, given its substantial import/export revenue of RMB 42 trillion in 2022. However, navigating this market comes with numerous challenges, beginning with the crucial task of brand naming in China. A good brand name serves as the initial point of contact between consumers and brands. […]
South Korea’s health functional foods market: becoming daily essentials
Amid South Korea’s aging population and growing health consciousness, health functional foods (건강식품) have significantly influenced the nation’s dietary landscape. Health functional foods (건강식품), as defined by the Ministry of Food and Drug Safety, are dietary supplements containing functional ingredients beneficial or nutritious for the body. These products are witnessing rapid growth as consumers prioritize […]
4 steps for future-proofing for malls in China
In 2023, China’s retail landscape saw the inauguration of 400 new shopping centers, reflecting a persistent expansion despite previous growth deceleration. Presently, there are about 7,000 shopping malls in China and forecasts suggest a resurgence in the mall market, with an anticipated market size of RMB 1.9 trillion by 2025. However, challenges persist amidst this […]
Generative AI in South Korea: How companies are tapping into the uncertain yet lucrative services frontier
Generative AI, especially OpenAI’s ChatGPT, gained remarkable attention in 2023. GPT-4, a high-capacity language model released in March 2023, exceeded USD 1.6 billion in revenue, indicating a lucrative market attracting globa interest. While OpenAI has initially held a strong market presence, other high-tech companies are beginning to enter the AI market. Read our Korea’s MZ […]
City marketing in China: Strategies for brands to thrive in urban landscapes
City marketing involves “selling” the unique attributes and offerings of the city to targeted audiences. Much like brands, cities use marketing strategies to draw in talented individuals and visitors and businesses. City marketing encompasses various methods, including the use of a city logo, a slogan, promotional videos, and a dedicated website. In 2023, nine major […]
Is there a future for AliExpress and Temu in South Korea?
South Korea stands tall among the top ten e-commerce markets in the world. Joining this dynamic landscape are AliExpress and Temu, relatively new e-commerce entities stemming from Alibaba Group Holding and Pinduoduo (PPD), respectively—two of China’s largest e-commerce companies. These platforms aggregate small businesses in China, providing them with opportunities to reach international e-commerce markets […]