In October's From the Web we include top articles on the nuances of the political language used by Chinese; that personal growth is the new luxury for China’s elite; whether failing in China leads to global failure, and more!
1. China's "mainstream"
As reported by China Media Project.
Understanding China requires a high-level of sensitivity to the nuances of the political language used by the Chinese Communist Party, and also how that language impacts our imagined points of connectivity with China. Simple words like “innovation,” an apparent reference to Silicon Valley-style disruption through technology, can signal things we might not associate — such as tighter political and social controls, and widespread surveillance.
2. Chinese consumers want brand purpose but expect it to be localised
As reported on PR week.
A new study looking at brand purpose in China has found that the shifting power dynamic between brands and consumers is more apparent in China, where consumers’ expectations are at their highest, public sentiment at its most volatile, and customer loyalty still fleeting.
While the China market has been known to be pragmatic – more so than any other, globally – it is also aligned with the West when it comes to expectations for brands to be ethical with their data, take a stance on social issues, and play a wider role in society.
3. For China's ultra elite, personal growth is the new luxury
As reported on Jing Daily.
Two-thirds of high-net-worth Chinese consumers say personal growth is more important than wealth, according to research released on October 21st by HSBC Jade and Scorpio Partnership. For retailers and the travel industry, this report suggests that companies need to offer more than just luxurious goods in order to entice a top-tier Chinese client.
4. Will failing in China lead to global failure?
As reported by Jing Daily.
The retail apocalypse is a worldwide phenomenon that put tens of thousands out of work, forcing apparel giants such as Nine West, David’s Bridal, and Diesel to go bankrupt.
There’s no doubt that the retail system has a Sino-element at its core, and that the winds of change blow from China these days. The New Retail model promoted by Alibaba and Tencent is “revolutionizing the retail-scape” and is perfectly in line with changing consumer behavior. Moreover, in recent years, China has become a predictor of future retail trends, so it feels as if businesses that can’t engage with the “global, demanding” Chinese consumers will fail globally.