South Korea’s seafood market: What will happen to Korea’s favorite foods after the Fukushima waste release?
South Korea ranks among the world’s largest seafood consumers, with seafood consumption per capita of 68.4 kilograms per person in 2020. In 2023, the revenue for South Korea’s seafood market is estimated to be USD 13.98 billion, with an expected annual growth of 4.2%. However, Japan’s controversial release of Fukushima radioactive water brought split opinions […]
From commuting to craze: China’s billion-dollar bicycle market
Since the introduction of the two-wheel pedal bicycle from France to China in 1868, bicycles have been establishing a significant presence within Chinese society. This enduring popularity of bicycles persists to this day. In 2022, the sales manager of Giant’s bicycle shop in Beijing said that the sales of bicycles increased by about 30%. This […]
Forging partnerships: navigating joint ventures in China
China has been an appealing destination for global businesses due to its market size, manufacturing and supply chain strengths, developed e-commerce ecosystem and innovation capabilities. This has led multinationals to enter the Chinese market through exporting, licensing, franchising, strategic alliances, acquisitions, and joint ventures (JVs). JVs allow a foreign company to partner with a local company […]
Exploring the thirst for drink collaborations in China
China’s beverage market is highly lucrative, with revenues projected to reach 504.1 billion RMB in 2023. It is also estimated to achieve an annual growth rate of 9.91% between 2023 and 2027. The market has evolved from primarily tea and traditional drinks to a multifaceted industry that encompasses a wide range of products, including carbonated […]
“The rejuvenation of baijiu should not stop at publicity stunts”: Trending hashtag on Chinese social media
As anyone on Chinese social media has already seen from the explosive collaboration, in the 1st week of September, domestic coffee chain Luckin Coffee launched a new product “sauce-flavored latte (酱香拿铁),” in collaboration with Kweichow Moutai (贵州茅台), the producer of China’s “National Liquor”, baijiu. This new drink, containing no more than 0.5% alcohol by volume, quickly became a […]
Co-branding in South Korea: From products to unique, fun, and shareable experiences
In the bustling world of South Korean consumer culture, co-branding has become an exciting way for brands to stand out and connect with their consumers. While not a new concept, it gained significant momentum in 2020. With companies struggling economically, they forged partnerships to create more value together. From Kpop stars teaming up with brands […]
South Korea’s automobile industry: From local beginnings to global success
South Korea has become a pivotal player on the global stage in the automotive sector, boasting a remarkable journey of growth spanning the past three decades. Rooted in a history that dates back to 1958, when the first locally assembled car rolled off the production line, the automotive industry in South Korea has evolved into […]
Artificial intelligence in China: from manufacturing hub to global tech innovator
Over time, China is gradually moving away from its cheap-mass-production-based economy and is progressing up the value chain toward the innovative field, especially in high-tech. In particular, Artificial Intelligence (AI) in China has emerged as a pivotal domain of innovation, becoming a critical factor in different segments of the economy. China has become a global […]
Health supplements and vitamins in China: a promising market dominated by foreign brands
The health supplement and vitamin market in China has been growing rapidly in recent years. From 2019 to 2022, this market witnessed an impressive 45% increase in revenue in China, with sales reaching US$4.7 million in 2022, which surpasses every other country. The function consumers are seeking the most is immunity-boosting and among vitamins, the […]
A brand’s guide to Chinese gifting habits
Gifting in China goes beyond just products and special occasions. It includes everyday life and meaningful experiences that can strengthen harmonious relationships. To uncover how gifting habits are being shaped, we conducted in-depth desk research and social listening on major gifting platforms including Taobao (淘宝) and Liwushuo (礼物说) and social media platforms such as Xiaohongshu […]
Chinese Valentine’s Day: decoding how brands craft Qixi campaigns
The Qixi Festival (七夕), also known as the “Double Seventh Festival” or Chinese Valentine’s Day, is a celebration deeply rooted in Chinese culture. It occurs on the seventh day of the seventh lunar month. This year, it was on the 22nd of August. The festival originates from the legend of the Cowherd and Weaver Girl […]
Quality, sustainability, and Guochao: three keywords in China’s high-end fashion
Since the end of the pandemic, China’s high-end fashion market has been steadily expanding. Luxury items have become a typical spending choice for many consumers who had to postpone their travels or other leisure expenses. According to Morgan Stanley, this trend is expected to continue throughout 2023, with Chinese consumers projected to increase their purchases […]