South Korea’s luxury goods market: Old foreign brands and new domestic brands compete over “flex” consumption
Korea’s luxury goods market is the seventh largest in the world. In 2021, the market was worth USD 5.8 billion, and by 2024, it is projected to grow beyond USD 7 billion. Some of the reasons Korean consumers are showing greater interest in luxury include retaliatory consumption and travel restrictions. Another driver is “flex” consumption, […]
China’s ecotourism industry: how sustainable traveling looks like today
Over the years, the tourism sector in China has undergone a significant transformation – keeping up with global trends in embracing sustainability and ecotourism in its development, especially as government initiatives are pushing for environmental beautification as well as conservation. Ecotourism is a form of sustainable tourism that focuses on the natural environment, cultural heritage, […]
South Korea Travel Trends Report
The number of Korean travelers is returning to normalcy, but consumer habits will never be the same. From destinations, to lodging, and even the rise of online travel, this South Korea Travel Trends report exposes the up and coming trends. Download to learn: Key Stats: Tourism in South Korea is growing with the impact of […]
A food-loving culture with strict beauty standards, why we don’t hear more about eating disorders in China
Many decades ago, eating disorders in China were extremely rare as the population’s focus was on putting food on the table. However, young Chinese women today face different societal pressures as the associations of ‘being thin’ have become more toxic. Nowadays, thinness is not only connected to beauty, but also to self-discipline, success, and even […]
South Korea F&B market report
Covid-19 has reshuffled the cards in many industries and the Korean F&B market is no exception. With more and more of the population living alone and staying at home, industries such as snack, food delivery and HMR (Home Meal Replacement) are growing. Similar to Korea’s beauty market, the food and beverage market is the starting […]
Screens are getting larger while apartments are getting smaller: the rise in laser TVs in China
Laser display technology is a new generation of display technology following black and white TV, standard color TV and digital TV represented by LCD TV, PDP, OLED, etc. Laser TVs utilize optical rays of different colors project the image onto a screen. In 2020, the penetration rate of laser TVs was still less than 1%, […]
How laundry cleaning brands incorporate sustainability into their business in China
The laundry cleaning market in China has been growing steadily in recent years. According to iiMedia’s report, the market size of the laundry cleaning market is predicted to reach 87.5 billion yuan and continue to grow in the next few years. As the laundry cleaning market in China keeps expanding, laundry detergent brands are increasingly […]
How the ice cream market in China became the biggest in the world
The ice cream market in China has witnessed steady growth over the past seven years. According to Chyxx, in 2021, the country’s ice cream industry was valued at 160 billion RMB, with a growth rate of 8.84%. Such market is expected to reach 40.19 USD (275.19 RMB) by 2027. Along with the increasing demand, many […]
South Korea beauty market report
As South Korea’s beauty market is a global trendsetter, understanding the Kbeauty market is not only useful in understanding Korean consumers, but also the global beauty consumer base. Our public research team deep dived into Korea’s beauty and skincare market and compiled our findings in this downloadable report. Download the Korean beauty consumer trends report […]
Chinese TikTok Douyin e-commerce: A new playground for brands
This article on Douyin e-commerce was originally published by Azoya Douyin, the Chinese version of TikTok, is a booming short-video app in China, with over 600 million daily active users. In 2021, Douyin built its own e-commerce ecosystem, launched flagship stores for brand accounts, and created platform-owned payment solutions to close the loop on its e-commerce operation. […]
How are brands paving a greener path in China’s automobile, beauty, and fashion industry?
Under the reality of global warming, sustainable business practices have become increasingly important to align with the shift in Chinese consumers’ purchasing decisions toward greener alternatives. With the efforts of education on sustainability, flourishing exposure to social media, and the government’s commitment to carbon neutrality, sustainable transfer has accelerated among Chinese people, especially within younger […]
China’s cross-border e-commerce: a first approach to the Chinese market
China’s cross-border e-commerce is a sales channel that allows businesses to access the local market without being based in the country. After its accession to the WTO, China’s trade in goods exports surged. The volume increased from about RMB 2 trillion to RMB 12.3 trillion between 2000 and 2011, boasting a compound annual growth rate […]