Beyond cravings: How emotional value and cultural identity drive the gummies and jellies market in China
In the gummies and jellies market in China, satisfying a craving remains a primary driver. However, consumers are increasingly seeking emotional relief, the shared experience of being with fans at a concert, and an expression of cultural identity within the Guochao narrative. Download our China’s F&B industry white paper The gummies and jellies market in […]
Affordable fashion in China: Chinese Gen Z is paying for feelings, not just clothes
In March 2026, a three-year-old Chinese apparel label called W.MANAGEMENT took over H&M’s former flagship space in Hong Kong’s Causeway Bay, roughly 30,000 square feet, at a fraction of the rent H&M once paid. The handover points to a bigger shift: affordable fashion in China is winning over the Gen Z customers, and the prime […]
China’s consumption stimulus in 2026: Where pockets of consumption growth will occur and how it helps brands open their first stores
China’s consumption stimulus entered a new phase in 2026, backed by the most coordinated policy effort in years. The central government renewed RMB 1.3 trillion in ultra-long special treasury bonds, of which RMB 250 billion supports the consumer goods trade-in program for cars, appliances, and digital product upgrades. The consumption stimulus subsidy policies to run […]
6,700 shopping malls in China; not all of them will survive
Total retail sales grew 3.7% in 2025, trailing both GDP growth and household income growth for the second year running. Nearly 60% of the country’s top 100 retail chains saw store counts stagnate or shrink. New openings of shopping malls in China fell to a 13-year low in 2025, down 24% from the year before. […]
Perfumes in China: Emotion, everyday use, and evolving scent preferences
Even though China’s fragrance market is growing rapidly – faster than the global average – what is worth more attention is how Chinese consumers now understand, select, and experience perfume. In 2025, the market for perfumes in China totaled around RMB 30 billion, a 20% year-over-year growth. By 2029, it is projected to exceed RMB […]
Investment-driven luxury in China: How value preservation is redefining the next era of consumption
Investment-driven luxury in China is entering a new era. Consumers no longer purchase luxury products just for their craftsmanship, status, and exclusivity. They now evaluate luxury through a broader lens, considering preservation of value and resale potential as well. Changes in consumer priorities and economic conditions have expanded the concept of luxury goods to include […]
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 […]
The MZ Generation is becoming less trend-sensitive and more self-driven
The MZ Generation (MZ세대), a term used only in South Korea, refers collectively to Millennials (born in the 1980s to early 1990s) and Generation Z (born in the late 1990s to mid 2000s). While this grouping doesn’t fully capture the complexities of each generation, they share key similarities that make the combined category useful. Making […]
The Shifting Dynamics of Luxury in China Report
Since 2020, Chinese mainland consumers have consistently contributed 20% to 25% to the global luxury market. China’s luxury market is undoubtably one of the most strategically important markets for brands globally, and it’s undergoing significant shifts. This China luxury market report highlights these shifts as well as our hypotheses on the direction of luxury in […]
Wellness is the new luxury: How luxury brands are staying relevant through luxury and wellness partnerships in China
Luxury and wellness partnerships in China have enabled brands to connect with consumers who increasingly see health, discipline, and self-optimization as new markers of status. Health is the next big status symbol among China’s luxury consumers. Having a wellness practice indicates that one has constraints in one’s lifestyle choices and has taken time for self-exploration. […]
The Shanghai souvenir that doesn’t look Chinese: inside Pane’s cross-border playbook
During the 2026 Labor Day holiday, the line outside Pane on Shanghai’s Huaihai Road ran to the curb, with waits topping forty minutes. The notable part wasn’t the line; it was who stood in it. At Pane stores, foreign tourists make up an estimated 60–80% of buyers, many treating the shoe as a Shanghai souvenir. […]
Audemars Piguet in the Chinese market: From high-net-worth collectors to Gen Z
In 2025, China’s luxury market contracted by 3% to 5%, a significant slowdown compared to the sharp decline in 2024. Specifically, the watch category experienced challenges with a decline of 14% to 17%, highlighting that consumers are becoming more rational and turning to second-hand products in the luxury watch market in China. Amid this challenging […]