Keeping up with the shifting Chinese luxury consumer demographics: What to expect when luxury embarks to lower-tier cities
The Chinese luxury market is a major source of revenue for many global brands and will become the largest in the world. However, Chinese luxury consumer demographics is changing. While it remains obvious for luxury brands to primarily target tier 1 cities in China first, there is much opportunity for growth and expansion in lower […]
5 Chinese consumer values in the post-pandemic economy
Private consumption in the Chinese economy is expected to reach around $12.7 trillion by 2030. Experts anticipate the Chinese consumption to more than double within 10 years compared to the spending of $5.6 trillion in 2019. This translates to an annual private consumption growth rate of 7.9% over the next 10 years. With this outlook […]
China’s population and changing demographics: Based on the 2020 Seventh National Population Census
According to the result of China’s seventh national population census released in May 2021, China’s population reached 1.412 million in 2020, but with only marginal growth in the past decade. Notably, the age group of 60 and over has expanded significantly, up by 5.44% from the 2010 census, reflecting an ageing society in China. The […]
Awakening the dragon of rural consumption in China: How to tap into this Blue Ocean consumer base
The incredible popularity of Chinese short-video star Liziqi, who has 13.7 million subscribers on Youtube and 34 million on Douyin, has drawn the world’s attention to rural China. Viewers see the countryside in China as a fairyland, while Xinhuanet, China’s official press agency, described the rural market in China as a “gold mine” of consumption […]
How millenials and low-tier cities are shaping China’s jewelry market
China is becoming a consumption-led economy, which bodes well for retail in China, especially the luxury sector . China’s jewelry market is still dominated by foreign brands. Corresponding to the growing demands, distinct and revolutionized consumer needs appear, such as customization. The online and second-hand jewelry market has soared recently. China’s jewelry market can afford to approach […]
Xiaohongshu is becoming a giant in both social media and e-commerce | Daxue Consulting
Latest facts and insights about Xiaohongshu (Little Red Book) 2020. Social media platforms like WeChat and Sina Weibo, as well as e-commerce marketplaces like Taobao, are no strangers to foreign marketers. Compared to these well-known names, Xiaohongshu (小红书, also known as Little Red Book or RED) is relatively less talked about. In this insights report, […]
Market Tidbits transcript #2: The rise of the Stay-at-home Economy in China
Matthieu David: Allison Malmsten and I today we are going to have a market tidbit on the Stay-at-home Economy in China and we wrote a report a few weeks ago, about this stay at a home economy which was of course impacted by what happened in February, March, April with the Covid-19, the coronavirus and […]
How to build a mass brand in China’s consumer goods market?
Costco’s crazy Shanghai debut: what is the potential for Costco in China? | Daxue Consulting
Last Tuesday, Costco opened its door for the first time in Shanghai. Long queues and frenzied shopping are not uncommon in China, German discounter giant Aldi also experienced it just a couple of months ago, as it opened its first two offline stores in Shanghai. However, early shut-down of Costco on the opening day is […]
What do Chinese consumers think of Duty Free shops? | Daxue Consulting
What are Chinese consumers attitudes towards Duty Free shops? Duty Free shops are retail outlet stores that are exempt from paying all local or national taxes. This tax exemption is on the basis that the goods sold in these stores will be sold to travelers who will carry them outside of the country. Inside of […]