The fashion industry in China: Chinese young consumers are becoming highly brand-conscious
China’s fashion industry is currently experiencing an era of unprecedented change and growth. In the “State of Fashion 2023” report, a joint effort by BoF and McKinsey, it was projected that the global fashion market will slow down in 2023 due to macroeconomic and geopolitical factors, including rising inflation, supply chain pressures, and political tensions. […]
Pearl market in China: propelled by Chinese youths and old-money aesthetics
Pearls are categorized into two main types: freshwater pearls and saltwater pearls. In the first half of 2023, the pearl market in China was valued at RMB 31.09 billion. The country currently dominates the production of freshwater pearls, accounting for around 75% of the global output, primarily clustered in a few provinces. Younger consumers are […]
Uniqlo in China: Maintaining its unique position amidst the competitive Chinese market
Since establishing its first store in Shanghai in 2002, Uniqlo has woven itself into the fabric of China’s retail landscape. As of April 2024, the brand operates a vast network of 920 directly operated stores across more than 200 cities throughout Mainland China. The number of stores in China surpassed even the number of stores […]
Wellness industry in China: traditional Chinese medicine, mental health apps, and USD10 billion spa empire
The wellness industry focuses on products and services that promote health, well-being, and overall quality of life. It encompasses fitness, nutrition, personal care, mental health, alternative medicine, spa treatments, and more. The wellness industry in China is propelled by the younger generation’s emphasis on Traditional Chinese Medicine (TCM), mental health, and aesthetic spa experiences. Furthermore, […]
“KFC responded to the implementation of charging packaging fees”: Trending hashtag on Chinese social media
In the 3rd week of February 2024, the hashtag #KFC responded to the implementation of charging packaging fees# (肯德基回应全面开收打包费) was trending on Weibo, garnering close to 100 million views in two days. On February 20th, KFC announced that it would start charging packaging service fees, while the official pricing for delivery fees has been reduced from RMB 9 […]
Medical tourism in South Korea: What makes it a premier destination for global patients?
Medical tourism, the act of seeking medical treatment abroad for better value or superior quality compared to what is available domestically, has experienced notable growth in recent times, particularly in the Asia-Pacific region. Medical tourism in South Korea has surged alongside the popularity of K-beauty and the Hallyu wave. It has emerged as one of […]
NIU’s expansion journey within the electric two-wheeler market in China
Within the electric two-wheeler market in China, NIU has recently embarked as a new disruptive competitor. The company has been able to swiftly expand its product line amidst an unprecedented increase in demand for efficient urban transportation solutions. It was also driven up by rising concerns about air quality and increased traffic congestion. In this […]
“Why Chinese fast food is becoming less affordable as well?”: Trending hashtag on Chinese social media
Over the decades following the opening of the first KFC in Beijing’s Tiananmen Square in 1987, Western fast food was typically perceived as higher-end or even luxurious. This was attributed to its pricing and China’s economic conditions at that time. However, there has been a notable shift in the general perception of both Western and […]
“Why the Sam’s Club ‘poor people combo’ drives the middle-class crazy”: Trending hashtag on Chinese social media
In recent years, Chinese consumers have become increasingly inclined to save money and follow trends like consumption downgrade due to the economic slowdown after a prolonged pandemic. On Xiaohongshu, many netizens shared their experience purchasing “poor people combo meals,” among which fast food restaurants and coffee chains such as McDonald’s, KFC, Burger King, and Luckin […]
The Chinese art market: young collectors fuel contemporary art surge
The global art market is a multi-billion-dollar industry, playing a significant role in cultural exchange and economic development. While its artistic roots stretch back centuries, China’s art market has boomed in recent decades, becoming a major player on the global art scene. In recent years, the Chinese art market has witnessed a meteoric rise, solidifying […]
The restaurant market in China: adapting to evolving consumer tastes and technologies
The restaurant market in China has witnessed a significant rebound following the pandemic. In 2023, the Chinese food service market reached RMB 5.2 trillion (USD 717.6 billion), marking a 20.6% year-on-year increase, and essentially returning the market scale of the catering industry to pre-pandemic levels. In the near future, the growth rate of the catering […]
We and I: Indie beauty brands in China attract through individuality and collectivism
The indie sector has swiftly emerged as a significant player in the beauty industry, boasting global sales worth USD 30.5 billion. This trend is evident in China, especially among young consumers in China. Brands including Fan Beauty and Rare Beauty have been gaining popularity due to the growing desire for individuality, a sense of belonging, […]