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China's economy sees new pockets of growth in rising shopping trends

China s economy sees new pockets of growth in rising shopping trends
CNBC
4 hrs ago
Evelyn Cheng
Chinese brands were able to adapt more quickly to local trends than foreign brands last year, according to the latest China Shopper Report from Bain & Company and Kantar Worldpanel.
People living in smaller cities were also more willing to spend last year than those living in large ones, the report said.
However, Chinese consumers overall are more price sensitive than before, the analysis found.
© Provided by CNBC
A customer eyes the beverage section in a supermarket on June 9, 2021 in Handan, Hebei province.
BEIJING Chinese consumers spent less on daily necessities from foreign brands last year during the coronavirus pandemic, while those in smaller cities were more willing to spend than those in large ones, according to a report. ....

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China's economy sees new pockets of growth in rising shopping trends | Hellenic Shipping News Worldwide

China's economy sees new pockets of growth in rising shopping trends | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

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Membership-based markets gaining popularity

Pouring a bottle of Prosecco sparkling wine, Victor Shi－who runs wine and liquor sourcing at Sam's Club－recalled his trip to the historically renowned Prosecco production plant in Italy and how the product expresses the fruits and flora from the region. ....

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China's luxury goods market bucks global trend

China s luxury goods market bucks global trend
1
2021-02-18 10:58:02China Daily
Editor : Li Yan
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Consumers pass a Chaumet store in Hong Kong. Chaumet is a luxury jewelry brand based in Paris. （YANG JINYAN/FOR CHINA DAILY）
Fiscal policies, higher purchasing power of young shoppers, digitalization and duty-free enterprises boost prospects
Due to the novel coronavirus pandemic, the luxury market last year inevitably encountered a slowdown. But the Chinese market has surfaced as a bright spot.
After an understandably rocky start, China s luxury goods market finished out 2020 with double and even triple-digit growth rates for some brands.
Bucking global forecasts of a 23 percent drop in the luxury market, the country is forecast by consultancy Bain &Co to enjoy a robust 48 percent growth in luxury spending in 2020, totaling almost 346 billion yuan ($53.5 billion). ....

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China bucks global trend with surging luxury consumption-Eastday

By:Zheng Qian |
From:english.eastday.com | 2020-12-22 09:36
A report on China’s luxury market released on December 16 shows that China has bucked the shrinking global trend of the luxury market, with consumption on the Chinese mainland having risen by 48% to 346 billion yuan.
Conducted by Bain & Company, a top global management consulting firm, the report said that from January to October this year, luxury goods sales on Tmall, Alibaba’s e-commerce platform, have increased by about 120% year-on-year, and the annual growth rate is expected to be around 130% to 140%. By 2025, China will probably become the world s largest luxury goods market. ....

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