The Chinese art market: young collectors fuel contemporary art surge
The global art market is a multi-billion-dollar industry, playing a significant role in cultural exchange and economic development. While its artistic roots stretch back centuries, China’s art market has boomed in recent decades, becoming a major player on the global art scene. In recent years, the Chinese art market has witnessed a meteoric rise, solidifying […]
The restaurant market in China: adapting to evolving consumer tastes and technologies
The restaurant market in China has witnessed a significant rebound following the pandemic. In 2023, the Chinese food service market reached RMB 5.2 trillion (USD 717.6 billion), marking a 20.6% year-on-year increase, and essentially returning the market scale of the catering industry to pre-pandemic levels. In the near future, the growth rate of the catering […]
We and I: Indie beauty brands in China attract through individuality and collectivism
The indie sector has swiftly emerged as a significant player in the beauty industry, boasting global sales worth USD 30.5 billion. This trend is evident in China, especially among young consumers in China. Brands including Fan Beauty and Rare Beauty have been gaining popularity due to the growing desire for individuality, a sense of belonging, […]
KTV in China: On the path of decline or looming for another rise?
KTV was introduced to China in the 1980s and was once an important place for young people to gather and enjoy their time. However, in the evolving landscape of the entertainment industry in China, the traditional dominance of KTV is now being challenged by a wider array of leisure options. Is it time for people to […]
Digitalizing the gift card market in South Korea: Extending influence across industries and generations
In South Korea, traditional family occasions like Chuseok and Seollal, once reserved for gatherings and gift-giving, are seeing a shift. With improved communication and accessibility, people are attending these gatherings less and opting to send gifts via gift cards instead. This shift has fueled robust growth in the gift card market in South Korea, with […]
Increasing online shopping spurs stricter consumer rights regulations in China
China, with more than 1 billion netizens as of 2023, has been implementing and updating strong regulations on data security and consumer protection. However, amidst these efforts, complaints against Chinese e-commerce platforms have surged. Consumers are ever more raising complaints against Chinese e-commerce platforms, especially about the scarce quality of products purchased through live streams […]
Discovering China’s new luxury hot spots: Emerging luxury hubs beyond Shanghai and Beijing
Chinese major international hubs like Shanghai, Beijing, and Hong Kong have traditionally acted as China’s luxury hot spots. As of 2023, this trend continues to dominate with Shanghai boasting a luxury consumption volume of RMB 53.5 billion, placing it in the lead. Beijing closely follows with RMB 52.3 billion. However, according to the latest China […]
Boycotts in South Korea: to what extent does it impact brands?
Boycotts in South Korea has become a powerful tool wielded by consumers to voice their dissatisfaction, demand answers, and influence company policy. Consumers are increasingly leveraging their purchasing power as a form of activism, choosing products based on social responsibility and an organization’s ethical position in addition to features like price and quality. Due to […]
Educational tourism market in China: rapid growth fueled by demand for holistic education
The educational tourism market in China, encompassing both domestic and international tours, has experienced a strong rebound post-pandemic, shown by a surge in demand for study tours in summer 2023. National policies and parental preferences present promising opportunities for market growth, driving key players to offer diverse international and local tour options. Educational tourism predominantly […]
LEGO Education in China: a strong player in the STEAM education scene
Since its introduction to the Chinese market, LEGO Education has played a pivotal role in revolutionizing how students engage with STEAM (Science, Technology, Engineering, Arts, and Mathematics) concepts. Benefiting from the governmental endorsement of STEAM education, LEGO Education has made its way into classrooms. The company has opened learning centers, which have withstood the crackdown […]
The flourishing bread market in South Korea: Is bread the new staple food?
Rice has traditionally been a staple in Korean cuisine for centuries. However, in recent years, there has been a significant shift in consuming bread, reflecting changing dietary preferences and lifestyle trends. This shift has led to the emergence of a vibrant bread market in South Korea, alongside the rice market. Read our Korea’s MZ Generation […]
The burgeoning children’s economy: The rise of children’s activities in China
China’s birth rate continues to plummet, dropping to a mere 1.15 in 2021 and currently nearing 1.0, despite the 2016 abolishment of the single-child policy. Combined with the booming economy, the trend has a significant impact on child-rearing practices. With fewer children to invest in, parents are now channeling their growing disposable income towards a […]