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.
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 […]
Rolls-Royce in China: selling fewer cars, with more bespoke, in a tougher ultra-luxury market
China is one of Rolls-Royce’s two largest markets, and the brand is answering a wider luxury car tax and new Chinese rivals with local bespoke work rather than volume.
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. […]
Chinese brands in Hollywood: the product placement boom ended, and global sport took its place
In the early 2010s, Chinese brands appeared in Hollywood blockbusters to look global; as Hollywood lost its Chinese audience, they moved their money to global sport.