Reaching Chinese digital consumers can be difficult, but as one of the largest markets in the world, it offers an enormous opportunity to Western businesses. In this post we include top stories on China's expected surge in pet spending, how China’s Millennial travellers differ to their parents, the trend towards choosing to go green as a core lifestyle choice, and much more…
1. China's expected surge in pet spending draws disbelief, criticism
As reported by Reuters.
A forecast double-digit jump in spending by Chinese pet owners on their furry companions this year has been met with mixed emotions on Chinese social media.
Spending on pets is expected to rise 27 percent to 170.8 billion yuan ($24.9 billion) in 2018 from last year, according to a recent white paper jointly released by a Chinese pets app and organizers of Pet Fair Asia, an international trade show for pets. Expenditure grew 9.8 percent in 2017.
2. Apple finally gets how to play the China market
As reported by Bloomberg.
Five years ago Apple Inc. released a device it thought would appeal to consumers in one of its most important emerging markets. The iPhone 5c was a failure. The c was alternatively supposed to stand for colour, or China. In China, it just stood for cheap.
Two years later, Apple brought out the iPhone SE. What was special about the “special edition” was that it came out mid-cycle — in March 2016 — and had many of the same high specs Apple had introduced in its most recent September offering, notably the processor and camera.
3. Wealthy, mobile and elusive: chasing China's consumers
As reported by Australia China Business Review.
Discerning, big spending and sophisticated – they are the focus of any consumer-facing corporation and the backbone of many a global growth ambition.
But as rapidly as China’s wealthy new consumers have attained discretionary spending power, they have also become increasingly difficult for international brands to understand and reach.
Earlier this year, China moved past the United States and became the world’s biggest retail market – with more than $US1,463.8 billion ($2,031 billion) in sales in the first quarter of 2018, according to China’s National Bureau of Statistics.
4. Spreading their wings: How Chinese Millennials turn the world of travel upside-down
As reported by CKGSB.
Chinese millennials promise to reshape the global tourism industry. Unlike their parents’ generation, who preferred to travel abroad on Chinese-organised tour groups, today’s young Chinese are independent, individualistic and willing to try more adventurous vacations.
This shift is opening up huge new opportunities for travel and tourism operators worldwide. They can now advertise directly to China’s 400 million children of the 1980s and 1990s, who often book their next trip online and on impulse.
5. Lifestyle, cleanliness and hygiene in cosmetics, what's the story?
As reported by William Reed.
Stress, lack of sleep and other lifestyle factors are considered the leading cause of skin conditions among Chinese consumers, global intelligence company, Mintel reveals. Their research indicates that 66% of Chinese consumers asked aged 20-49 indicate believed that lifestyle decisions are responsible for skin concerns.
Increasingly, global consumers are choosing to go green as a core lifestyle choice. Science, technology and business have collaborated to develop, advance and deliver innovations to retailers and end-consumers.