Gucci in China: a tale of elegance and cultural connection
The luxury goods sector has experienced significant growth in China over recent decades, triggered by a remarkable surge in disposable income. Consequently, renowned international luxury brands such as Coach, Hermès, and Prada have all strategically penetrated the Chinese market, seeking to capitalize on the burgeoning demand. However, among the abundance of luxury brands vying for […]
Webtoons market in South Korea: Expanding into Netflix series, games, and beyond
South Korea, renowned for its diverse cultural exports ranging from K-pop and K-dramas to cuisine and beauty products, has another sector gaining global attention: the webtoons market. Webtoons, digital web comics originating from South Korea, have been increasingly popular both domestically and globally. With the digitalization of various industries and the widespread use of smartphones, […]
The hotel industry in South Korea: A haven of experiential delights for locals and visitors
The hotel industry in South Korea has been significantly shaped by the fascination with South Korea’s Hallyu. Initially bolstered by a surge in tourist interest, hotel businesses flourished, only to face a substantial setback following the COVID-19 outbreak, resulting in a sharp decline in revenue from KRW 9.19 trillion in 2019 to KRW 5.98 trillion […]
Why Brand Naming in China is Trickier Than You Think
Entering the Chinese market presents a tantalizing opportunity for foreign companies, given its substantial import/export revenue of RMB 42 trillion in 2022. However, navigating this market comes with numerous challenges, beginning with the crucial task of brand naming in China. A good brand name serves as the initial point of contact between consumers and brands. […]
South Korea’s health functional foods market: becoming daily essentials
Amid South Korea’s aging population and growing health consciousness, health functional foods (건강식품) have significantly influenced the nation’s dietary landscape. Health functional foods (건강식품), as defined by the Ministry of Food and Drug Safety, are dietary supplements containing functional ingredients beneficial or nutritious for the body. These products are witnessing rapid growth as consumers prioritize […]
4 steps for future-proofing for malls in China
In 2023, China’s retail landscape saw the inauguration of 400 new shopping centers, reflecting a persistent expansion despite previous growth deceleration. Presently, there are about 7,000 shopping malls in China and forecasts suggest a resurgence in the mall market, with an anticipated market size of RMB 1.9 trillion by 2025. However, challenges persist amidst this […]
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 […]
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 […]