As one of the largest consumer markets in the world, China offers enormous opportunities to Western businesses. In this post, we include top stories on Chinese consumer behaviour, travel habits, and China's 800 plus million internet users.
1. Chinese consumers seek social currency online
As reported by WARC.
Chinese people are significantly more invested in their online identities than their Western counterparts, which offers brands more opportunities to connect with increasingly savvy consumers, according to an expert in Chinese consumer psychology.
On average, Chinese consumers spend more than three hours per day on WeChat, the multi-functional social platform, compared to the 20 minutes the average Americans spends on Facebook. Likewise, online opinion leaders (KOLs) are more influential than in the West, especially within cosmetics and beauty categories. .
2. Hospitality giant Hilton ramps up luxury portfolio in China and beyond
As reported by Jing Daily.
From the launch of Bvlgari’s second hotel in Shanghai to the opening of the Zaha Hadid-designed Morpheus Hotel in Macau, global luxury hospitality players are flocking into the Chinese market as the country’s appetite for high-end hospitality services grows.
According to Daniel Welk, vice president of operations, luxury, and lifestyle of Hilton Asia Pacific, the sector is experiencing a “Golden Age of Travel,” where the Asia-Pacific region and, in particular, China spur unlimited potential and opportunities. In the face of growing competition, how is Hilton implementing its strategy and staying ahead in this highly competitive marketplace?
3. China reaches 800 million internet users
As reported by Techcrunch.
China’s internet population has now grown beyond 800 million, according to the latest data from the Chinese government.
A new report issued by the China Internet Network Information Center (CNNIC) put the number of people in China with access to the internet at 802 million.
4. Chinese tourists flood southern hemisphere to escape summer heat
As reported on Ecns.
High summer temperatures have driven many Chinese tourists to cooler areas around the world, with routes to Australia, Africa and South America becoming increasingly popular.
Data from Lvmama, a leading self-service travel platform, said Chinese tourists visiting the southern hemisphere rose nearly 40 percent compared with the same period last year, with most originating from Shanghai, Beijing, Shenzhen, Guangzhou and Suzhou.
5. Consumption sector rides wave of growth
As reported by Ecns.
Final consumption expenditure's contribution to economic growth reached 78.5 percent in the first half of 2018 with strong momentum in service consumption, People's Daily reported.
"The upgrade of China's consumption structure has been accelerated. On the one hand, the growth of ungraded products in physical goods consumption has been increased fast. On the other hand, service consumption maintains relatively rapid growth," said Huang Zhilong, macro-economy research chief at the Suning Institute of Finance.