How China’s footwear industry is coping with shifting consumer preferences

Chinese footwear market

Due to the fast-evolving tastes of Chinese consumers, leather shoe brands are finding it challenging to stay relevant in the footwear industry in China. In the 2nd week of May 2024, Chinese netizens were having a heated discussion on Weibo regarding whether #leather shoes have been abandoned by today’s era# (皮鞋已经被这个时代抛弃了吗), garnering over 6 million […]

Consumer pain points in China’s beauty market

China's beauty market

In the very competitive beauty market in China, many brands are fiercely and rapidly innovating to satisfy the needs of consumers. However, there are still remaining pain points that have not been addressed at all or have not been addressed effectively by brands. To identify some of these pain points, we conducted social media listening […]

“Chinese tourists queuing up to buy Louis Vuitton bags in Japan at 4 am”: Trending hashtag on Chinese social media

Chinese tourist Louis Vuitton

According to Umetrip (航旅纵横), as of April 22nd, bookings from Chinese tourists for both inbound and outbound international flights have exceeded 790,000, an increase of over 1.5 times from the previous year. Specifically, among the most popular outbound travel destinations, Japan emerged as the top choice. In the first quarter of this year, Chinese tourists spent RMB […]

South Korea’s furniture market: Is furniture the new fashion?

South Korea's furniture market

As people in South Korea spend more time at home doing activities beyond just eating and sleeping, there is growing attention to furniture products. South Korea’s furniture market is witnessing growth, with a market worth of USD 3.8 billion in 2023 and projected to experience a CAGR of 4.18% from 2024 to 2029. Read our […]

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

Pearl market in China

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 […]

Wellness industry in China: traditional Chinese medicine, mental health apps, and USD10 billion spa empire

Wellness industry in China

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, […]