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 […]
COTTI COFFEE: From rapid rise to operational backlash
The coffee industry in China has experienced rapid expansion in recent years, with over 50,000 new stores opening annually. While Luckin Coffee currently holds a dominant position in the market, the emergence of new players like COTTI COFFEE (库迪咖啡) is expected to intensify competition and challenge its supremacy. Download our report on Gen Z consumers […]
Exploring South Korea’s fragmented e-commerce platforms landscape
South Korea’s e-commerce landscape, expected to reach USD 160.4 billion by 2027, has firmly established itself as a robust platform facilitating transactions across diverse sectors and platforms. With the advancement of e-commerce and logistics infrastructure, delivery services have significantly improved in speed and efficiency. Notably, South Korea’s delivery and logistics companies rank seventh globally. Companies […]
Jewelry market in Korea: “good” jewelry is trendy, simple, and affordable
The jewelry market in Korea is a thriving and essential part of the fashion landscape. Whether for work or special events, jewelry is a must-have accessory, contributing to the country’s reputation for being home to one of the world’s largest jewelry markets. In 2023, the overall revenue in the Korean jewelry market reached an impressive […]
“Why do more and more people choose not to get married and have children?”: Trending hashtag on Chinese social media
Despite the various endeavors made to encourage population growth after the abandonment of the one-child policy in 2015, China had only 9.56 million births in 2022, marking a record low since 1950. With a fertility rate as low as 1.09 in 2022, it seems China has fallen into the “low-fertility trap,” a concept that suggests the challenges in increasing […]
Valentine’s Day in Korea: Celebrating love the Korean way
Valentine’s Day holds a significant place among the numerous romantic occasions celebrated in Korea. Although it falls on February 14th like in many other countries, it’s typically a day for women to give gifts to men, not the other way around. However, when it comes to celebrating, it’s a time for couples to come together […]
Bungee jump temperature drops boost the “warm economy”: Trending hashtag on Chinese social media
With the approaching winter solstice (冬至), the day that marks the arrival of winter in the twenty-four solar terms, temperatures have dropped drastically in China. In some northern regions, by over 20 degrees Celsius in one week, according to the National Meteorological Center. Download our report on Gen Z consumers But the cold weather is causing more […]
“Harbin, you’re going viral abroad”: Trending hashtag on Chinese social media
The International Ice and Snow Festival kicks off on January 5th in Harbin, the capital of Heilongjiang province in northeastern China. Consequently, the city has quickly become one of the most popular travel destinations in the country. Many tourists from southern provinces, humorously referred to by northeastern locals as “南方小土豆” (small potatoes from the south), […]
How Seollal shopping in South Korea is becoming more diversified
Seollal (설날) is one of the most important traditional celebrations in Korea. While it is still a family-centered holiday, it is slowly shifting away from family and diversifying into a day to celebrate with friends, romantic partners, and oneself. As a result, Seollal shopping consumption patterns, are changing, notably when it comes to gifting. Read […]
Kid’s wear market in South Korea: Overcoming low fertility with premium choices and diverse styles
Despite the low fertility rate and the impact of the Covid-19 outbreak, the domestic kid’s wear market in South Korea has been on the decline since 2016. However, a positive shift has been observed since 2020, marked by an increased demand for premium kid’s wear products and a diversification of offerings within the children’s wear […]