The dawn of a new era for Chinese luxury brands: 5 hypotheses on the future of luxury in China
The luxury market in China is poised to become the largest in the world. According to McKinsey, China will contribute to 41% of global luxury consumption by 2025. Although there are numerous well-renowned foreign brands, Chinese luxury brands like DUANMU and Shangxia, have been gaining momentum over the past few years. If foreign brands do […]
Unpacking the challenges of the secondhand clothing market in China
In China, an estimated 26 million tons of clothes are thrown away every year, whereas less than 1% of that amount is reused or recycled. Due to association with poverty and the concept of mianzi (面子), many Chinese people are unwilling to buy and wear secondhand clothing, leading to mass production and waste accumulation in […]
China Chic: The Emergence of Chinese luxury brands
Nowadays Chinese consumers are a major driver of growth for the global luxury industry and their importance is bound to increase in the years to come. Indeed, mainland China is expected to become the world’s largest luxury goods market by 2025, thereby surpassing the regional share of the Americas and Europe. Covid-19 travel restrictions induced […]
China’s ‘Common Prosperity’ initiative and its potential economic impacts explained
In early 2021, Chinese President Xi Jinping made a speech emphasizing the importance of ‘Common Prosperity’, setting this concept as a tone in policy making for the next few years. As a policy-guided and increasingly modernized country, China’s ‘Common Prosperity’ campaign gathers momentum and impacts all aspects of society almost instantly. What’s China’s ‘Common Prosperity’ […]
Five steps to future-proofing for luxury brands in China
China’s luxury market accounted for 20% of the global luxury market in 2020 and it is expected to become the largest luxury market by 2025, thereby surpassing the regional share of the Americas and Europe. According to the report jointly released by Ruder Finn & Consumer Search Group, consumer confidence has been restored as 41% […]
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 […]
More powerful than “I love you”: Gift giving culture among Chinese couples
Across many cultures, gift giving has stuck out as an important way to express love and commitment in a relationship. China’s gift giving culture expands far beyond romantic relationships to include family, friends and even business relationships, but gift giving in romantic relationships remains tradition during China’s six valentine’s days. Although feminism is gaining momentum […]
The Chinese Daigou industry explained: The future of surrogate shopping in China
Daigou (代购) is a form of surrogate shopping in China as a means to receive cheaper luxury goods from duty free shops and foreign countries. Along with the growth in tourism, the luxury market, and increased disposable income, the Daigou market in China has developed rapidly in the past ten years. Until 2014, the market […]
Personalization and customization in China: Is it worth the effort and how to create a campaign
China is on the path to becoming the largest luxury market in the world. According to a McKinsey report, China will contribute 40% of the world’s consumption of luxury goods by 2025, and it has already become the biggest market for many luxury brands. At the same time, foreign apparel brands have been expanding rapidly […]
Streetwear in China: hip-hop influence and form of expression for the Chinese youth
Streetwear in China has colorfully and poetically blossomed among gen Z with the help of hip-hop culture, national pride and a need for individual expression. US skate culture plays an important role in this movement, making streetwear and skatewear more mainstream in China. Social media keeps Chinese youth in tune to emerging trends and cultures. […]