Revealing Opportunities: Exploring the Latest Progress in China’s Market

October 16, 2023

 

1. TikTok’s Chinese sibling, Douyin, has established an independent entrance for its one-hour delivery service within the “marketplace” channel on its homepage

 

  • To compete with industry giant Meituan, the short video platform is increasingly concentrating on local life services.

  • According to information provided by Douyin in May, sales from this channel are expected to account for more than 30% of all revenue in 2022.

  • In August 2022, Shenzhen saw the launch of the quicker on-demand delivery service, which is now available in about 15 domestic cities, including Beijing, Shanghai, and Guangzhou.

  • The within-hour service is provided by retailers themselves or in collaboration with third-party courier platforms, much like Douyin’s food delivery service.

  • Currently, supermarkets with self-delivery options make up the majority of businesses offering faster delivery services to Douyin users. 

LINK: https://mp.weixin.qq.com/s/q8UiNoKj_pnmq5vuZtezSg

 

 

2. More than 30% of young people claim to have a “easy to grow grass constitution,” according to a report published on Weibo titled “2023 Contemporary Youth brand Consumption Data Insight Report.”

 

  • In the “2023 Contemporary Youth Brand Consumption Data Insight Report,” which Weibo published on October 8, 76.5% of young people claimed that social media is their primary method of contacting brands, and nearly half of them stated that they will learn about various brands’ products on shopping software.

  • The majority identified as “Internet natives.” 34.9% of respondents claimed that they have a “easy to grow grass constitution” and that it is simple for others to use their actions to “pull weeds.” Another 31.2% claimed to be “cosmeticists” and to have no aversion to goods with an exceptionally high level of appearance.

  • In addition, 41.9% of respondents said they would directly support their preferred brand of goods through consumption. Second, 41.5% of respondents said they would advise neighbors to plant grass.

  • Notably, more than half of respondents said they would not choose to purchase from a company whose past actions do not align with their ethical principles.

LINK: https://mp.weixin.qq.com/s/QLynd8v8hnNvf1zsCX5wGQ

 

3. Blackpink’s Lisa ignites controversy on Chinese socials with cabaret performance

 

 

Blackpink’s 26-year-old Lisa (full name Lalisa Manobal), a member of the K-pop girl group, caused a stir with a string of performances at Le Crazy Horse cabaret in Paris last week. The performances sparked a lively online debate in China. 

Social media effects that are viral

On the Chinese social media platform Xiaohongshu, the hashtag “Lisa crazy horse show” (#Lisa) has 180 million views, while the same hashtag on Weibo has 164 million views.  

 

Lost in translation

Women’s freedom, self-sexualization, the male gaze, and feminism were all discussed in China. The choice Lisa made to perform cabaret was praised by some commentators as an example of her artistic freedom.

Other online users expressed concern that Lisa’s provocative performance would have a negative impact on her enormous young fan base. Some went a step further, criticizing her for objectifying herself as a sexual object (as an Asian female) to the Western male gaze. 

 

Celebrity collateral damage

It wasn’t just Lisa who faced backlash on Chinese social media. Netizens, mostly women, accused Chinese actress Angelababy, who was spotted near the premises, of reinforcing gender inequity and the objectification of women. 

Critics claimed that Angelababy’s presence glamorized cabaret as a form of high art due to her sizable Gen Z and Alpha following, potentially distorting ongoing discussions about gender and morality in China.

 

Consumerism and culture: Ambassadorships and brands 

The “she economy” in China is booming as women acquire greater economic and social clout. Numerous industries have been impacted, particularly those that produce luxury, fitness, beauty, home, and pet accessories. However, female empowerment in China is not of the same caliber or develops in the same manner as it does in the West.

While the uproar surrounding her performance provides valuable insights for brands and celebrity ambassadors in China, it is unlikely to significantly dent her personal brand. For less popular celebrities, whose transgressions may be more serious, cultural differences and misunderstandings can result in serious reputational damage. 

And however much society has changed in the past decade or two, China’s approach to gender norms and sexuality is still markedly different from that of the global north.

LINK: https://jingdaily.com/lisa-cabaret-performance-china-react/

 

 

5. China’s e-commerce slows down as celebrities turn to Xiaohongshu for ‘quiet selling.

 

  • This year, quiet selling, a slower-paced, storytelling-focused livestreaming style, has become more popular in China. Gen Z shoppers seek respite from the hustle and bustle of urban life.
  •  By reading poetry, referring to her viewers as “readers,” and spending nearly six hours introducing 200 products, for instance, Cheung furthered the air of sophistication, culture, and learning. She also described eyeshadow shades with Renaissance allusions.
  •  The number of livestreamers increased 337 percent in 2022 compared to the previous year, and the number of livestreaming sessions increased 214 percent on XHS.
  •  With a softer approach, as suggested by “quiet selling,” XHS is the most genuine platform for customers to find real peer reviews and recommendations.

LINK: https://jingdaily.com/quiet-selling-livestreaming-xiaohongshu-annie-yi/

 

6. Adapting to changing Chinese tastes: Strategies for success in the alcohol industry

 

 

  • To succeed in China’s evolving alcoholic drinks market, businesses are adapting their marketing strategies to align with changing consumer preferences.

  • Brands are emphasizing digitization to connect with consumers where they are. For instance, iMoutai, a direct-to-consumer platform from Moutai, and international spirits and wine groups like Pernod Ricard and Diageo have been investing in digitization efforts.

  • Proactive marketing strategies include leveraging the lunar calendar, creating Chinese-tailored labels, and establishing a presence on platforms like Weibo and Douyin. These efforts are crucial for engaging effectively with Chinese consumers, as exemplified by Chateau Smith Haut Lafitte’s commitment to the Chinese market and its prestigious selection for King Charles III’s state visit to France.

LINK: https://jingdaily.com/adapting-to-changing-chinese-tastes-strategies-for-success-in-the-alcohol-industry/

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Unveiling Prospects: Delving into the Newest Advancements in China’s Market

October 9, 2023

 

1. Mainland Chinese tourists flock to Hong Kong for first post-Covid National Day holiday, but do not plan to stay long

 

  • Chinese tourists who were asked about their travel plans in the city said they would rely on travel articles posted on the Chinese social media and e-commerce platform Xiaohongshu, which is becoming more and more well-liked among young mainland Chinese people looking for interesting places to visit. 
  • A tourist referred to the impression she had of the city while scrolling through Xiaohongshu and said, “We are looking for a nostalgic feeling in Hong Kong.” 
  • Compared to pre-pandemic levels, travelers were considering shorter trips. Spending by visitors from the Mainland China had also decreased. 
  • The decline was attributed to both China’s economic slowdown and the Yuan’s depreciation, which is the country’s currency. He asserted that he thought spending would pick up once the Yuan gained strength.

LINK:https://hongkongfp.com/2023/10/01/mainland-chinese-tourists-flock-to-hong-kong-for-first-post-covid-national-day-holiday-but-do-not-plan-to-stay-long/

 

 

2. RED private message function“Sixintong”

 

 

A professional platform of XiaoHongshu called Sixintong offers features like welcome messages and automatic replies to greatly increase the brand’s marketing and operation efficiency in XiaoHongshu.

  • In order to encourage users to engage in deeper communication, it is possible to edit the relevant greeting so that it is automatically sent when a user sends a private message. Examples of this greeting include a basic introduction to the service or recent promotions and events. 
  • For some high-frequency basic private messages, we can set up menu to encourage users to click, such as phone calls, product inquiries, joining group chats, filling out forms, sending post links, and so on. 
  • Find potential customers in the comments section right away, actively seek out their needs, and help with conversion by doing so. 
  • The initial prerequisite is that there must have been more than 3,000 media purchases made overall over the previous 30 days.

LINK: https://www.niaogebiji.com/article-636629-1.html

3. How brands can best maximiae Chinese apps Xiaohongshu, Douyin, Weibo and Zhihu

 

 

  • Douyin

 

 

The platform with the most monthly active users (MAU) among the four is China’s TikTok Douyin, with 759 million. Short videos that are primarily intended for entertainment make up its content. The majority of internet users spend their free time there looking for both entertaining and educational content.

 

  • Xiaohongshu

 

Users on Xiahongshu are primarily drawn to articles about beauty and fashion. Small- and medium-sized KOLs, KOCs, and KOPs dominate the platform.

 

  • Weibo 

 

For news, announcements, product launches, celebrity endorsements, and apology posts, brands use the Chinese microblogging app Weibo as their official website. Weibo is used by many businesses when launching new products and collaborating with celebrities to gain traction because the platform attracts a sizable following of celebrity fans.

 

  • Zhihu

 

Zhihu is not a social media app like the aforementioned channels; rather, it is a Chinese translation of Yahoo! Answer. When they have questions or doubts about anything, from beauty tips to medical treatments, people look for reliable answers.

LINK:https://jingdaily.com/xiaohongshu-douyin-weibo-zhihu-how-can-brands-best-leverage-these-platforms/

 

4. From Jennie to Zendaya to Fan Bingbing: Chinese and global stars dominate Paris Fashion Week

 

 

  • With Hollywood heavyweights like Zendaya at Louis Vuitton, Pamela Anderson at Vivienne Westwood, Kylie Jenner at Schiaparelli, and Jennie Kim at Chanel all attending, Paris once again demonstrated how global celebrities are a vehicle for visibility across social media.  
  • Also making a splash was Chinese homegrown talent. Following her comeback to the spotlight, actress Fan Bingbing walked the Mugler runway alongside stars like Paris Hilton and Angela Bassett, while domestic babes Angelababy and Dilraba Dilmurat attended shows at Roger Vivier and Dior. 
  • The most effective marketing strategy a designer can use today is getting an A-list celebrity to support your brand, whether they are a member of the Kardashian-Jenner family or the internet’s current “it” person. And the metrics reflect that. 

LINK:https://jingdaily.com/jennie-zendaya-fan-bingbing-chinese-global-stars-paris-fashion-week/ 

 

 

5. China’s ‘Super Golden Week’ breaks records amid mounting economic challenges

 

  • Starting September 29, the eight-day ‘Super Golden Week’ is this year’s most popular holiday.
  • Over 2 billion people moved across regional boundaries in the nation, or 257 million people on average each day.
  • Thailand is expected to become the preferred destination for Chinese outbound tourists (partly due to its visa-free policy), followed closely by South Korea, Malaysia, Singapore, Australia, and the UK.
  • Apps like Fliggy, Ctrip, and Xiaohongshu make it simpler than ever for younger travelers to plan and book travel without using a traditional agent because they cater to their desire for authentic travel experiences.
  • As a way for young people to decompress, temples have also become very popular. 

LINK:https://jingdaily.com/china-super-golden-week-breaks-records-amid-mounting-economic-challenges/

 

 

6. The Daigou Index 2.0 The biggest threat to luxury in the next five years

 

  • The Daigou market in China is thought to be a problem worth $81 billion USD.  
  • Since 2019, the market’s growth is estimated to have exceeded 40%. Professionalization levels have increased, and more platforms have emerged to serve the expanding market.
  • Instead of your typical Chinese international student earning a little extra money on the side, a typical Daigou today is more than likely a large organization with significant purchasing power.  
  • But brands are not always cognizant of the scope and dynamics underlying this segment of the Chinese gray market.

LINK: https://mp.weixin.qq.com/s/YvJCarTqbyBjyZAN1Pv3mQ 

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Unlocking Opportunities: Exploring the Latest Developments in China’s Market

September 11, 2023

Tencent officially launched its large language model

  • Chinese tech giant Tencent officially launched its Hunyuan large language model at the company’s Global Digital Ecosystem Summit.
  • The move comes several months after fellow Chinese tech giants Alibaba and Baidu launched their own AI products.
  • The full stack self-developed Hunyuan LLM with over a hundred billion parameters is trained with 2 trillion tokens of pre-training data. It possesses strong capabilities in Chinese language comprehension, content creation, logical reasoning, and task execution.
  • In the future, the Hunyuan model will support Tencent Cloud’s MaaS (Model-as-a-Service), with customers able to directly access it through APIs and use it as a foundational model to develop applications for various industry scenarios, Tencent said.

LINK: https://www.jiemian.com/article/10057854.html

 

Publish without notification display in the homepage

  • When an article is posted, there will be two buttons, one to publish to all and one to publish without notification.
  • Publish without notification means that published content is not pushed to users. However, now the published content will be displayed on the home page of your WeChat account. The published article can also be forwarded to friends, friends in your circle, set for automatic replies, deleted, and so on.
  • Although, only fans can actively come to the home page to see the post article, if businesses publish frequently, it will end up making the home page look very busy. This then points to the need to be careful when using the post function in the future.

 

Xiaohongshu embarks on the era of “personal shoppers”, boosting social commerce

  • After the livestream momentum gained by the Chinese actress Dong Jie and subsequently KOL Zhang Xiaohui, Xiaohongshu now seeks to give influencers the official title of “personal shoppers”, stepping up efforts in social commerce.
  • The move closely follows the just concluded Red-commerce Partner Week 2023, which was hosted on August 24 in Shanghai. Touting the tagline “Entering the era of personal shoppers”, the event also marked the public debut of Xiaohongshu’s e-commerce division.
  • “Personal shoppers” would “play a crucial role in connecting merchants and consumers”. “The first things personal shoppers on Xiaohongshu need to work on is to understand the specific needs of their target audience, they are expected to direct other users to the products they are looking for.” As such, “personal shoppers” would act as upgraded KOLs, bringing together the content-focused “Community” and e-commerce ecosystems that are not yet well integrated on the platform.
  • This shows the ambition of Xiaohongshu in setting itself apart in the much-contested territory of e-commerce from existing experts such as Douyin (Chinese TikTok) and its rival Kuaishou by differentiating its approach to “influencing” consumers to that adopted by other social media platforms.
  • Such a practice also appears to be more persuasive and appealing to Xiaohongshu’s user demographics, which are economically satisfied and more knowledgeable in fields related to their interests.

LINK:https://daoinsights.com/news/xiaohongshu-embarks-on-the-era-of-personal-shoppers-boosting-social-commerce/

 

 

China Sets Filing Requirements for Smart Phone Applications

  • On 4 August 2023, the Ministry of Industry and Information Technology (MIIT) set a timeline to enforce the filing of mobile applications (APPs), in the published Notice on Carrying out the Filing of Mobile Internet Applications (Notice). 
  • APPs that are pre-installed on a smart phone or downloaded by users, should conduct filing through their network access service providers. For example, an APP hosted on Tencent Cloud’s cloud service should conduct filing through the Tencent Cloud portal. 
  • APPs based on API that users can use without installation, such as mini programs, quick apps, etc. should conduct filing through their distribution platform. For example, mini programs in WeChat should conduct filing through the WeChat portal. 
  • A foreign company that operates an App in China can register its Chinese subsidiary or representative office as the APP holder. Alternatively, it can enter into a cooperation agreement with a local partner.

LINK: https://mp.weixin.qq.com/s/w2xLVI75H4X59DRR5rODNA 

 

 

China’s newest viral collab: megabrands Luckin Coffee x Moutai join forces

  • Many young Chinese people are tasting their first cup of luxury liquor—Kweichow Moutai — at domestic café chain Luckin Coffee. The two beverage giants partnered up to co-create a new flavor of latte, Moutai Latte (酱香拿铁), which was released today. 
  • The collaboration was an instant hit, with long queues forming outside the 10,000-plus Luckin coffee shops distributed across China, and several related hashtags topping Weibo’s Hot List, each with over 100 million views. 
  • Through the partnership with Luckin Coffee, Moutai is using a fresh way to popularize its product’s taste and brand among China’s younger demographic. 
  • The collaboration seems to be a winning formula for both. The high-low partnership has tapped China’s guochao trend, offered surprise, delight, and nostalgia for consumers, and earned both brands new virality. 

LINK: https://jingdaily.com/luckin-coffee-moutai-collaboration/ 

 

 

‘Mom skincare’ —China’s maturing Gen X consumers give rise to new beauty opportunities

  • The cohort of 60-years-plus consumers could provide a new growth engine for skincare and personal care labels.
  • The options for mature skin are lacking, with many major local and global brands focusing on launching skincare lines for young women and men.
  • China’s Gen X consumers are big savers and users of high-end skincare labels. They have more knowledge about skincare and beauty than the preceding generation had.
  • Older consumers rank anti-aging effects as the top product function. However, hydration and moisturization also rank highly.
  • Brands have deployed celebrities in their 40s and 50s to endorse their skincare lines and promote their products on Weibo, Douyin, and Xiaohongshu. 

LINK: https://jingdaily.com/chinas-gen-x-saves-big-but-also-consumes-high-end-skincare/

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Unleashing the Pulse of China’s Market: Updates and Breaking News.

August 2, 2023

 

  1. JD launches vertical AI model, targets retail, finance and education sectors:

  • Context: Beijing currently is home to approximately half of the more than 80 large models available in China
  • JD on Thursday introduced its own large AI model ChatRhino. Positioned as a vertical AI model that offers industry-specific use cases, JD’s AI offering arrives a few months later than rivals Alibaba and Baidu. 
  • Why it matters: JD is the latest Chinese tech major attempting to upgrade its offerings with AI and large models. The company said ChatRhino combines 70% generalized data and 30% native intelligent supply chain data, targeting a number of sectors including retail, finance, education, and government.  
  • Details: The company has already utilized the AI model to enhance customer service, facilitate code writing, and improve product recommendations, she added.

JD’s healthcare unit also unveiled a specialized model designed for the medical industry that is capable of quickly adapting and learning from various healthcare scenarios, which will serve as a technological foundation for remote medical services. The e-commerce giant also showcased its ambition to develop humanoid robots, which will be a key exploration direction for the JD Explore Academy.

LINK:
https://technode.com/2023/07/14/jd-launches-vertical-ai-model-targets-retail-finance-and-education-sectors/

 

 

 

2. Baidu AI products overseas

 

The AI social products “SynClub” by Baidu have recently been introduced in Hong Kong, China, Japan, and other countries. This product uses the latest AI technology of Baidu, so that users can know their own AI friends, and through the company of AI friends, users can chat more interestingly and in-depth.

 

3. The “channel retrieval” feature was introduced by the channel.

 

On July 12, the channel launched the “channel retrieval” function for the certification body to support the recovery of the lost agency authentication channel.

It is understood that “channel retrieval” refers to the channel that has completed enterprise and institutional certification or main body verification and can initiate the channel retrieval process and re-operate the channel after the platform verifies the authenticity of the main body.

In the process of initiating the retrieval, it is necessary to pay attention to the following two points: First, the initiator has not created a channel, and it is necessary to use a wechat signal that has not created a channel to initiate the retrieval process. Second, the account must be in normal use, and the account that has been cancelled, blocked, or banned cannot be recovered.

 

 

 

4. Users of the Meituan app can now record and upload brief videos.

 

Meituan has unveiled a new feature on its app that now allows users to shoot and upload short videos. The addition of this feature provides users with more creative ways to engage with the platform and record their experiences.

Meituan’s latest move comes amidst the intensifying rivalry with Douyin within the online local services industry.

The food delivery giant has also made moves to shake up the live-streaming business by hosting more live-streaming events, including monthly live streams on the 18th of each month since April, where participants are offered coupons.

In addition, the company launched its very own platform, Meituan Live, which is currently only visible to a select group.

Meituan continues to evolve as a multifaceted platform in order to stay competitive in the market

LINK: https://daoinsights.com/news/meituan-app-now-supports-users-to-shoot-and-upload-short-videos/

 

 

 

5. China’s newest beauty retail battleground, Douyin, was won by L’Oreal by 1 billion RMB.

 

L’Oréal topped a ranking of brand sales in the first half of the year, hitting a GMV of 1 billion RMB 

Douyin is the nation’s newest retail battleground, and international brands are actively fighting to grow their market share for Gen Z

Social platforms like Douyin are becoming pivotal channels for brands to close the loop in digital commerce

L’Oréal collaborates with roughly 800 to 1,500 Douyin KOLs every month, ranging from mega influencers with over 5 million followers to small-to-medium key opinion consumers

LINK:
https://jingdaily.com/loreal-douyin-china-newest-beauty-retail-battleground-billion-rmb-gmv/

 

 

 

6. Three New WeChat Advertisement Products Online Now

 

Moments Ads brand gallery: advertisement is WeChat’s first vertical multi-screen display advertisement. It supports 3-5 vertical screen video cards displayed at the same time, and the new method of display brings an eye-catching visual experience by creating a high-level window texture for the brand and enhancing the user’s memory of the brand.

WeChat Channels Carousel Ads: advertising supports 3-5 components, which are displayed on large tiles throughout the process. Different cards can be diverted to different official mini programs or different pages of mini programs, or they can be turned to native pages and H5. 

WeChat Search: discovering brand surprises through WeChat Search and finding beautiful gifts for their loved ones for Qixi Festival

LINK:

https://www.luxurysociety.com/en/articles/2023/07/what-should-luxury-expect-post-pandemic-chinese-travellers 

 

 

 

7. Translation vs Transcreation: which one is the right choice?

 

When expanding a business to a new country with linguistic and cultural differences, it’s crucial to ensure that the brand’s message and identity are accurately conveyed to the new audience.

Translation is the process of converting text from one language to another while preserving the original meaning, making it suitable for more literal texts. Transcreation, on the other hand, is a creative approach that adapts the message, cultural nuances, and persuasiveness to resonate with the target audience.

Factors such as the purpose of the text, marketing strategy, target market, and time/budget constraints should be considered when deciding between translation and transcreation for a successful linguistic adaptation.

LINK:

https://mp.weixin.qq.com/s/meZQ7MC_HIHktV-0KSPdhg 

 

 

8. How AI technology is reshaping beauty retail in China

 

Store of the Future on Shanghai’s East Nanjing Road The first of its kind in China, the new concept retail space boasts seven digital touchpoints: an advanced skin analysis device powered by big data; a product recommendation feature based on AI-generated makeup trends; product labels equipped with radio frequency identification (RFID) that unlock a detailed breakdown of ingredients; mobile POS, which allows customers to check out anywhere with a beauty advisor and avoid long queues; and personalized gift packages with the option to add scents and voice messages.

Meanwhile, the Shanghai Municipal Medical Products Administration has granted SkinCeuticals, Estée Lauder, L’Oréal, and Shanghai Chuangyuan Cosmetics stores in Shanghai a license for personalized on-site services. With this license, retail stores can act as mini cosmetic factories, creating products tailored to individual skin types.

Typically, consumers seek the advice of sales assistants or search for product reviews by influencers.  plus the fact that KOLs and personal shoppers may have other motives for recommending certain items (e.g., brand sponsorships).

When stepping into the futuristic concept store, customers are asked to use their WeChat account to sign into the AI experience. Users are then connected personally to a salesperson who helps them through their purchase journey in person and can stay in touch with them once they leave the store.

 

 

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Staying Up-to-Date with China’s Market: Updates and News

July 25, 2023

  1. Ctrip unveils an AI model that provides suggestions for tourism

  • Ctrip introduced a vertical AI large model designed for the tourism industry. The AI-driven model, called Xiecheng Wendao, allows users to ask Ctrip travel-related questions. The model is in its early stages and still requires a long process of iteration.”
  • Why it matters: To meet their unique needs, many businesses are modifying current large general models with information specific to their respective industries. As an example, Ctrip claimed that its specialized model, which filters 20 billion high-quality unstructured streams of tourism data along with its own structured real-time data and search algorithms, is based on an undisclosed general model.
  • Details: Ctrip’s AI model will offer recommendations on destinations, hotels, and sightseeing, the firm said at the Monday launch event, and also can offer real-time search results for flights and hotels.
  • In a variation on the race to develop artificial intelligence chatbots similar to ChatGPT, Chinese businesses are increasingly turning to sector-specific models. It seems safer for domestic companies to make use of the quickly-evolving technology, particularly in a nation that recently took a significant step to regulate generative AI content.

Link: https://technode.com/2023/07/18/chinese-travel-booking-site-ctrip-unveils-ai-model-offering-tourism-tips/

 

 

  1. Foreign credit cards are now accepted by WeChat Pay in China.

  • Tencent said that it now allows foreign tourists to link their international credit cards to its payment service WeChat Pay.
  • With the rise of digital payments in China, foreign visitors have sometimes encountered difficulty in the country as many shops and restaurants only accept digital payments. 
  • Tencent has published bilingual Chinese and English guidelines on how to add a card within its super app WeChat, with overseas card holders able to “pay like a local” via payment codes or scanning merchants’ QR codes
  • However, WeChat added that a 3% transaction fee will be charged when a single transaction amounts to RMB 200 or over.

Link:  https://mp.weixin.qq.com/s/Rm7rQBotG77SQmM6MMv75A

 

 

  1. The hottest summer trend in China? How Xiaohongshu made ‘jorts’ a thing

  • On June 29, lifestyle sharing platform Xiaohongshu launched a campaign to promote the over-the-knee jean shorts. 
  • #Jorts, which has over 520 million views on TikTok, is part of a larger “new vintage” style taking over China and the rest of the world. 
  • Xiaohongshu has over 80 official accounts that cover a range of topics which not only spotlight the hottest Gen Z happenings, but they also educate consumers on niche and emerging movements. 
  • Given these functions, Xiaohongshu is more than just a social media platform. It’s an information hub that keeps brands up-to-date and connected with young consumers.

Link:  https://jingdaily.com/xiaohongshu-jorts-china-fashion-trends/

 

 

  1. AI’s assistance in fashion design: Text-to-Design, Tommy Hilfiger, and AI Fashion Week

In this year’s Metaverse Fashion Week held in March, the American clothing brand Tommy Hilfiger hosted an AI design contest. The goal was to create a digital fashion item in the classic Hilfiger style.

 

  • AI Fashion Week 
    Events such as Maison Meta’s AI Fashion Week in New York have also turned the spotlight on the synergistic relationship between AI and fashion
  • Text-to-Design transforms the fashion industry
    Stitch Fix uses AI recommendation algorithms and data science to personalize clothing items based on a user’s preferences. With generative AI, advanced AI programs that are able to generate sophisticated content such as images, there’s the possibility of taking things one step further, to the product design level.
  • Leaks and limitations
    Generative AI for fashion design is showing promise, but challenges persist. One of those risks is leaks. Images uploaded to AI image generators are typically also added to the platform’s database, making leaks possible.

“In the end, the level of creativity and quality of the output will be determined by the skill of the individual. Image generation tools are still just that: a tool.

 

Link: https://jingdaily.com/artificial-intelligence-fashion-design-assistant-tommy-hilfiger-midjourney/

 

 

  1. What Should The Luxury Industry Expect From Post-Pandemic Chinese Travelers?

  • Outbound travel is expected to increase in 2023, boosting luxury spending in Europe, the United States, and the rest of Asia, while the lifting of COVID restrictions in China is set to fuel Chinese consumer confidence and stimulate the local market rebound.
  • The return of Chinese outbound travelers is facing obstacles, including limited seat capacity on international airlines, higher ticket prices, visa application backlogs, and concerns about a volatile social environment abroad, affecting their confidence to travel.
  • Despite the potential increase in luxury consumption abroad, the domestic luxury market in China is not expected to decline in the short term. Luxury brands have invested in expanding their store networks and have taken measures to reduce pricing gaps, leading to significant growth in mainland China’s luxury market. 
  • In this context, the progress made by luxury brands over the last three years cannot be understated: In China, nearly 50% of all luxury consumers in 2021 were first-time buyers.
  • However, luxury brands need to be agile and adapt to changing consumer expectations and preferences both inside and outside China, focusing on higher spending potential of Chinese travelers and catering to their expectations in terms of luxury purchase experience and digital services.

Link: https://www.luxurysociety.com/en/articles/2023/07/what-should-luxury-expect-post-pandemic-chinese-travellers 

 

 

  1. What is the latest ‘KOP marketing’ craze?

  • The emergence of Key Opinion Professionals (KOP) in content marketing is a new trend, where professionals with deep expertise in specific fields share professional content to influence user decisions.
  • Main characteristics of a KOP:
    • Have a high degree of education, such as the Ph.D. Kikuchi Tian Department of Chemistry at Tsinghua University, known as “Picket”
    • Rich  experience, such as bloggers who rely on science popularize and dismantling rumors 
    • Deep-cultivated original content in professional vertical fields such as health, technology, engineering, and humanities
    • In addition, KOP is not necessarily a specific person, but also an institutional blogger, such as @丁香Doctor This type of professional media sharing health knowledge.
  • KOP differs from Key Opinion Leaders (KOL) and Key Opinion Consumers (KOC) in that they focus on vertical, professional content, providing detailed analyses and comparisons of products and brands.

Link: https://mp.weixin.qq.com/s/m4trhMxKPqYrngn7VOtMdA 

 

 

  1. Can ‘Midsize Influencers’ Fix China’s Body Image Problem?

  • Many in China have reclaimed the term, weipang(midsized), confidently using it to set themselves apart from influencers with conventionally thin figures, and the hashtag ‘midsize outfit’ has accumulated over 7.8 billion views on Xiahongshu and over 38 billion views on Douyin (China’s TikTok).
  • In recent years, the body positivity movement has also gained some momentum in China, with brands like Neiwai pioneering inclusivity in their campaigns, plus-size models like Xu Ruoxin on the covers of high-profile fashion magazines, and rapper Chen Jinnan openly discussing body image in her songs.
  • A quick search on Douyin, (whose user base is mostly men, as opposed to Xiaohongshu where over 70% of the users are women) will reveal the term weipang is used by men to describe women with large breasts and booties, but thin waists and long legs.
  • On Douyin, weipang women are mistakenly identified with a ‘slim-thick’ body type rather than the diverse range of ‘midsize’ bodies displayed by influencers on Xiaohongshu, and many videos on the platform revolve around sexiness rather than fashion and style.
  • At the same time, douyin banned 22 big accounts with large following and aiming to ban more, deeming their content pornographic and vulgar.

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Keeping Up with China: Latest Market Updates and News

June 9, 2023

iFlytek demonstrates new AI writing tools based on its own language model, claims it outperform ChatGPT

 

With the release of its own AI language models and associated applications, iFlytek is continuing the contribution of Chinese tech companies to the global AI development initiative sparked by ChatGPT.

An artificial intelligence writing tool called the iFlytek AI Writer aids users in quickly creating articles based on given information and prompts. On May 6, the product had its initial release.

According to the chairman of iFlytek, the model has surpassed ChatGPT in the areas of Chinese long-text generation, medical knowledge, and mathematical prowess but still falls short of ChatGPT in this area.

Three upgrades will be made to the model soon. On June 9, the model will be improved with code and multimodal interaction skills, and on August 15, it will be improved with open-ended question, multi-round dialogue, and mathematical ability capabilities. He added that by October 24 the model will be on par with ChatGPT’s current level in English and surpass ChatGPT’s current level in Chinese.

https://technode.com/2023/05/10/iflytek-demonstrates-new-ai-writing-tools-based-on-its-own-language-model/

 

 

Xiaohongshu tests new feature enabling influencers to add shopping links to posts

 

As part of its push towards e-commerce transactions, Xiaohongshu is enabling a select group of merchants to invite platform influencers to include shopping links when they post recommended content.

Instead of connecting to external e-commerce platforms, the links are directly connected to stores within Xiaohongshu.

In January 2021, the feature was initially accessible to all platform creators, but it was removed six months later due to “unsatisfactory link conversion rates.”

Xiaohongshu, which is frequently compared to Instagram, has been refocusing on e-commerce in recent months. It tested a group-buy feature last month and found success with livestream shopping earlier this year.

https://mp.weixin.qq.com/s/FTb_v-_vYsghkMr454iNtg

 

 

LinkedIn to shut China app, cut over 700 jobs

 

 

InCareer, the Chinese version of LinkedIn, will shut down its job board in August. Thanks to our strong China-based team, InCareer had some success over the past year, but it also faced stiff competition and a difficult macroeconomic environment.

LinkedIn stated in October 2021 that the Chinese-language version of its services would be discontinued due to “a more difficult operating environment” and “greater compliance requirements.”

Instead, the Microsoft-owned company introduced InCareer, a stand-alone employment app. InCareer had 57 million users as of July 2022 and was linked to 875 million members globally via LinkedIn.

700 employees in China will lose their jobs as a result of InCareer’s decision to change its business strategy and assist Chinese companies with recruiting, marketing, and training personnel abroad.

https://news.linkedin.com/2023/may/a-message-from-linkedin-s-ceo

 

 

Dazi culture in RED

 

 

Users of Xiaohongshu list the “professional” connections they require to expand their personal social network beyond simple acquaintances.

Recently, the “Dazi Culture” has become a trend on the internet. Finding a partner for a certain activity or pursuit—be it a study partner, a travel companion, a movie buddy, or a workout partner—is central to “Dazi” culture.

“Da Zi” is a colloquial term for a friendship. They do provide a relationship that people are eager to have, especially when you just want someone to eat or shop with but not share your most private secrets with. Despite the fact that they are not close friends.

“Da Zi” may be the reason why young people associate with one another because they have common interests, taste, or preferences.

The “Voice Live” feature, which focuses on voice social networking and lets users create open rooms and have conversations with random people about a variety of topics of interest, was internally tested by Xiaohongshu in October.
In February this year, 小红书 launched a “group chat” function, continuing to break the reality-based social networking model of acquaintances and connecting strangers by interests.

https://mp.weixin.qq.com/s/rWi4TqsjEsMSXrk7uLMtew

 

 

Balenciaga gives a nod to sustainability for 520 festival

 

 

Balenciaga, a luxury French fashion house, is leveraging Chinese Gen Zers’ growing passion for sustainability in advance of the 520 shopping festival (also known as Internet Valentine’s Day).

Chinese Gen Z consumers’ attention to brands’ social responsibility has emerged as a defining characteristic. With the recent launch of 500 new sustainable products on Tmall Luxury Pavilion, luxury brands have made sure to stay on top of this trend.

Along with the launch of the line, Balenciaga also published an interactive mini-program on the messaging app WeChat. On the microblogging platform Weibo, as of May 10, the hashtag “Balenciaga 520” had accumulated 17 million views.

Balenciaga gives a nod to sustainability for 520 festival

 

 

Chinese Tourists’ Spending In Europe Rises, But Visitor Numbers Remain Weak

 

 

The return of Chinese tourists to foreign countries began closer to home, with Asian locations like Thailand, Japan, South Korea, and Singapore emerging as early favorites, according to data from several Chinese travel agencies. Richer Chinese tourists appear to be among the first to travel back to Europe.

Chinese consumers now pay much more to travel to Europe, and demand is still below pre-pandemic levels. Those who do make these lengthy trips, though, are spending more money than before.

Europe will likely have to wait until the end of 2023 or 2024 to see the return of large-scale Chinese tourism.

https://jingdaily.com/chinese-tourist-europe-spending/

 

 

Lancôme spotlights Chinese ceramics in eye cream campaign

 

 

For the promotion of its Absolute Eye Cream, Lancôme examined the beauty of conventional Chinese ceramics. The campaign uses the restoration of old objects as a metaphor for rejuvenating sagging or aging skin.

Chinese consumers’ desire for goods that honor their country’s rich cultural heritage, both old and new. Foreign brands can take advantage of this trend with clever product design and local partnerships, making it far from the exclusive domain of domestic brands.

According to the study, half of Chinese women between the ages of 25 and 30 use anti-aging products like skin-lifting creams, serums, and eye creams.

Lancôme spotlights Chinese ceramics in eye cream campaign

 

Court Ruling Sparks Debate Over Promoting Work on Social Media

 

 

Luxury brands are embracing the concept of “virtual luxury” more and more in order to appeal to younger, digitally savvy consumers who value sustainability and one-of-a-kind experiences. To engage customers and create fresh opportunities for brand interaction, this entails using virtual experiences and products.

But the question still stands: Is authenticity still important in marketing? While virtual luxury might be alluring in the short term, brands shouldn’t discount the value of authenticity and quality when fostering long-term consumer trust and loyalty.

Given these trends, luxury brands should think about how to strike a balance between the advantages of virtual luxury and the requirement to uphold a strong brand identity and reputation. This might entail coming up with inventive ways to combine tangible goods and services with digital ones, all the while upholding the brand’s commitment to excellence and authenticity throughout.

https://www.sixthtone.com/news/1012863

Checking the performance of prior posts within the last 30 days is now possible in the WeChat backend, which is a new data point available.

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Chinese Marketing Updates

April 28, 2023

TikTok Parent ByteDance Battles Meta for Virtual-Reality App Developers

Developers who created virtual reality software for Meta Platforms are being offered payment by ByteDance Ltd. to port their programs to its rapidly expanding Pico headset line.

After experiencing lengthy delays in receiving distribution approval, some software developers have expressed frustration with the way Meta is reviewing new applications for its Quest headsets. Some developers claim that the business’s procedures lack precise guidelines, leaving them to eagerly anticipate the entry of new rivals. 

ByteDance acquired Pico, a B2B-focused company, in 2021 and changed its focus to B2C. Currently, the Pico 4 headset performs worse than the Meta headset and has a much smaller selection of games (300 vs. 500).

https://www.wsj.com/articles/tiktok-parent-bytedance-battles-meta-for-virtual-reality-app-developers-30ce091f

 

An interesting “mini” marketing strategy for the brand

 

The milk tea company “Diandian” has introduced the Earth Day mini cup to celebrate World Earth Day:

McDonald’s mini cone, DQ mini ice cream, and a Wuling small car that popularized the mini model have all used mini marketing to successfully penetrate various product markets.

Creating products that are larger than conventional, creating visual impact, and raising traffic topics when consumers are tired of brand and product cognition.Meet the market’s demand and expectations for weight loss, lightweight, and burden free products.

For current consumers, lightweight consumption and cute design in various aspects have become undeniable market trends, and product miniaturization is the simplest way to approach the trend.

https://mp.weixin.qq.com/s/R6FoptfmnOiLZPFMTh2uLw.  

 

Galeries Lafayette teams up with Hopson Group for luxury expansion in China

 

The new partnership aims to open ten stores in China by 2025. Future stores will carry independent Chinese designer brands in addition to well-known international ones.  

In order to convey “a certain vision of the French art of living in the heart of unique and selective multi-brand environments,” the joint venture will also concentrate on selling luxury brands in their upscale stores.

Through the partnership, both parties will be able to leverage their individual strengths to build a cutting-edge high-end department store company with a world-class buyer team and cutting-edge supply chain management system. 

Overall, the new partnership between Galeries Lafayette and Hopson Group marks a significant advancement in China’s luxury retail market. 

https://daoinsights.com/news/galeries-lafayette-teams-up-with-hopson-group-for-luxury-expansion-in-china/

 

Rivals Tencent Video and Douyin Reach Content-Sharing Agreement After Copyright Spat

 

Both parties have formally agreed to support content sharing, enabling users of Tencent’s well-known TV dramas to access them through the Douyin app without violating copyright. This is an intriguing development in the competition between China’s video and live-streaming apps, which are increasingly popular among Chinese consumers as tools for shopping and entertainment.

The collaboration may be an example of putting differences aside for the benefit of developing China’s tech and social media sectors. In the long run, it might also draw more users to the platforms.

https://jingdaily.com/tencent-douyin-content-agreement-copyright/

 

How Luxury Brands Are Courting the New Chinese Consumer As Shopping Tourism Resumes

Luxury brands are utilizing a variety of digital strategies, including e-commerce, social media, and live streaming, to connect with China’s extremely tech-savvy consumers. 

Personalized shopping experiences are created by luxury brands in collaboration with travel agencies as part of their key strategy for appealing to Chinese consumers.

By providing immersive, experiential shopping opportunities like in-store events and pop-ups, luxury brands are also leveraging the growth of the “experience economy.”

With features like personalized recommendations and augmented reality try-ons, Alibaba’s Tmall Luxury Pavilion and Luxury Soho platforms are playing an increasingly significant role in connecting luxury brands with Chinese consumers.

Additionally, luxury brands are taking action to address Chinese consumers’ concerns about sustainability and ethics in their marketing and business practices.

https://www.alizila.com/how-luxury-brands-court-chinese-consumers-shopping-tourism-travel-alibaba-lvmh-richemont/

 

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Latest Updates on China’s Market: ByteDance’s Language Model, Uncle Stars, Xiaohongshu Trends, Douyin’s PC Shopping, and More

March 2, 2023

ByteDance to emphasize search and imaging as it develops ChatGPT’s rival

 

ByteDance, the owner of TikTok, has assembled a sizable language model team and plans to integrate the technology into its search and advertising businesses as the hype surrounding ChatGPT, an AI-powered chatbot service, continues to encourage Chinese businesses to create analogous products of their own.

When ByteDance launches its large language model, which is anticipated to happen in the middle of this year, it will put a particular emphasis on language and imaging. 

The large language model team and the image model team will be managed by Zhu Wenjia, head of global search and development for TikTok. 

https://mp.weixin.qq.com/s/pGREeoSC6v-tf2zALdWZBQ

 

The Rise Of China’s ‘Uncle Stars’: How Middle-aged Men Are Taking The Spotlight

 

Idol scandals have tarnished China’s entertainment sector in recent years. 

As was the case with Louis Vuitton and rapper Kris Wu, luxury brands associated with wrongdoing (“little fresh meat”) were forced to act quickly to sever their endorsement agreements in order to allay public outrage.

People in their mid-forties, also referred to as “uncle stars,” provide a safer option for brands and have a wider market recognition among both young and old consumers. 

Brands are testing a new cast of ambassadors due to the expensive unpredictability of “traffic stars,” who heavily rely on the fan economy to push the sales of the products they promote. 

Huang Bo, a 48-year-old actor, was named the ambassador for Shiseido’s high-end line on February 9.  

These celebrities typically don’t have Xiaohongshu or Douyin, only Weibo. “By making extra efforts, brands need to increase their influence,

https://jingdaily.com/china-uncle-stars-middle-aged-men-ambassadors-shiseido-fresh-the-knockout/ 

 

2023 Xiaohongshu Annual Life Trend Analysis

 

To observe and research young people’s lifestyles, Xiaohongshu and the Institute of Sociology, Chinese Academy of Social Sciences, published the “2023 Life Trends” report with the theme “Into Real Life.” 

The report divides various life keywords, identifies, and analyzes life trends in 2023 using Xiaohongshu’s data statistics and topic content from the previous year. An excerpt from the report is given below. 

Warming up the neighborhood: Due to the scarcity of supplies during the epidemic, many residents got to know their neighbors by searching for those who lived “nearby” to shop with and trade goods with. Young people are therefore more likely to actively participate in community activities.

Eat authentically local flavors: Young people are starting to prefer regional specialties and regional traditions, 

  • On a trip: Due to the extended stays at home brought on by the epidemic, many people seek compensatory travel in the new year. They value the chance to travel more and are prepared to spend more effort, time, and money on travel.
  • Stress relief: Due to environmental impact, the majority of people felt helpless and unable to control their destiny, so they needed to decompress quickly and easily. Simple techniques for stress relief have become more popular in recent years.

Overall, investing and participating in real life will be more popular in 2023. The new trend among young people today will be actively experiencing and pursuing an innovative life, which is also Xiaohongshu’s wish for 2023 in this report.

https://www.chinatradingdesk.com/post/2023-xiaohongshu-annual-life-trend-analysis

 

Douyin tests out PC shopping feature to boost e-commerce

 

Douyin, a popular video-sharing website in China, is currently testing a PC shopping feature that will let users have a similar shopping experience to that of its mobile app.

The live broadcast room on Douyin’s website now features a product mounting function that enables users to view available products right away. However, direct orders and payments are still not supported on the PC version of the live streams. 

Users must scan the code with their Douyin app before they can finish their purchases. 

https://daoinsights.com/news/douyin-tests-out-pc-shopping-feature/

 

Xiaohongshu doubles down on social networking with group chat feature 

 

Users can access the new feature under the “group chat” drop-down menu accessible from the Messages tab on the app. Here, users have the option of starting a brand-new group chat or going to the “group chat plaza,” where they can peruse various discussions in a grid format.  

Users can join group chats on Xiaohongshu with just one click, unlike private Facebook groups where they must submit a request to join and have it approved by an admin.  

Users will have the chance to create communities to connect over specific interests thanks to the new feature. Influencers and retailers also profit from the new feature because the buzz created in group chats can boost traffic to their profiles and aid in turning that traffic into sales. 

https://daoinsights.com/news/xiaohongshu-doubles-down-on-social-networking-with-group-chat-feature/ 

 

China’s Tourism Rebound Faces a Roadblock: A Lack of Travel Agents

 

Some predicted a “big bang” for the global tourism industry when China abandoned its “zero-COVID” regulations as Chinese tourists flocked abroad.

Millions of Chinese tourists are eager to resume their international travel. But the tourism sector isn’t prepared for them.

The number of people leaving China increased to 676,000 on February 6 when outbound package tours resumed, which is the highest number in three years but only about one-third of the pre-pandemic levels. 

In many cases, travelers are prepared to return to foreign countries, but travel agencies are not. 

Currently, there aren’t many options for outbound group tours, and most of them are quite expensive. Rebuilding the international teams and the supply chain takes time.

Chinese tourists still favor joining group tours over planning their own trips.

https://www.sixthtone.com/news/1012339/chinas-tourism-rebound-faces-a-roadblock-a-lack-of-travel-agents?source=channel_deep

 

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Chinese Market Updates

February 7, 2023

Chinese internet search giant Baidu plans to launch a ChatGPT-style bot in March

Despite having a heavily censored domestic internet that is largely cut off from the rest of the world, ChatGPT has captured the attention of Chinese internet users. On regional social media, many people posted screenshots of the AI bot having unexpected conversations.

The application from Baidu will at first be integrated into its web search services. The combination will enable users to obtain search results in the form of conversations, similar to the well-known platform from OpenAI.

https://www.scmp.com/business/article/3208420/chinese-internet-search-giant-baidu-plans-launch-chatgpt-style-bot-march-source-says

 

China B2B Marketing in the Year of the Rabbit

 

Since trade shows and in-person meetings had to be canceled due to lockdowns and other circumstances, businesses had to find new ways to reach their target audiences.

New trends emerged:

  • Using trade publications for KOL marketing
  • Experiments with video and accelerated their WeChat content creation efforts using the WeChat Channels video platform,
  • Businesses can connect remotely with their clients and business partners thanks to webinars.
  • Digital-only trade shows and hybrid trade shows.

With COVID-19 still a major concern and vaccination efforts ongoing, it is more than likely that digital channels – especially newer channels – will to play a significant role

https://mp.weixin.qq.com/s/RG2S6bSwLJnQxwPz0Vvhdg 

 

Data report of LV, Chanel, Burberry, Prada and other official account in 2022

 

Service numbers include FENDI, Prada, HERMES, Chanel, Louis Vuitton, and Burberry. In 2022, Chanel has the most mass-produced items (totaling 72), while Louis Vuitton has the fewest (totaling 35), more than twice as many as the latter.

The opportunity is effectively not wasted because the service number can be pushed four times per month and all brands can send in groups three to four times per month.

Burberry, which has the second-highest number of mass-market articles, has the most likes and views, with totals that are 269.95% and 429.05% higher than the benchmark FENDI, respectively. Chanel, which has the most articles published in groups, won the challenge with 180.54% more reading than the benchmark, FENDI. 

However, Louis Vuitton, which has the fewest articles published in groups, has launched a counterattack, placing second overall among the six brands in terms of reading, liking, and viewing.

It can be seen on the mass distribution time distribution histogram that luxury brands tend to push more frequently in the second half of the week, occasionally on Saturday, and not as much on Sunday.

LINK: https://mp.weixin.qq.com/s/0bWYZZhJePNMCMHSEWiuBA

 

Spring Festival shoppers shift to 3 new trends in post-covid China

 

This year, the burgeoning young generation of consumers has turned away from the traditional idea of New Year’s goods  such as red gift boxes filled with roasted nuts and candies and biscuits in favor of contemporary trends in the post-pandemic era.

First and foremost, healthcare products were in high demand among Chinese people of all ages as health became a priority for everyone for reasons that were unmistakably related to the pandemic. 

The “firework” bubble gun machine was another popular item during the Spring Festival because most cities continued to impose stringent regulations on all kinds of fireworks. Young customers took an immediate liking to the firework substitute that closely resembled the sound and sight of the genuine article.

Thirdly, young shoppers this year exhibited a strong desire for distinctive and fashionable Chinese New Year gift boxes.

https://daoinsights.com/news/spring-festival-shoppers-shift-to-3-new-trends-in-post-covid-china/ 

 

Tencent carves out niche with new Brand Discovery mini program

 

Tencent Huiju will be replaced by WeChat’s new mini-program “Brand Discovery,” which will be introduced soon. 

The new program will concentrate on information aggregation and act as a hub from which users can find other smaller programs and get suggestions. Users interested in further browsing or purchasing a particular brand’s products will be redirected to the relevant mini program of that brand or shopping site.

Ma Huateng, the CEO of Tencent, has hinted that the company plans to take advantage of the popularity of short-form video content in the future, perhaps by using it to increase brand awareness and traffic to suggested products on the Brand Discovery mini program. 

https://daoinsights.com/news/tencent-carves-out-niche-with-new-brand-discovery-mini-program/ 

 

The male beauty market in China is developing fast and should not be overlooked

 

From 2016 to 2019, retail sales in China’s male beauty market were significantly higher than the global average (13.5% versus 5.8%).

59.50% of the total are between the ages of 18 and 25, while 21.30% are between the ages of 26 and 30.

Male beauty consumers can also find information on websites like Xiaohongshu and Douyin.

The top online stores for male beauty are Taobao and Tmall.

In China’s male beauty market, daily moisturizing creams and facial cleansers are crucial.

https://daxueconsulting.com/male-beauty-market-china/

 

 

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Chinese Market Updates

November 23, 2022

Alibaba And JD.com Keep Double 11 Revenues Secret. The Chinese Consumer Is Clearly Changing.

 

As the 14th Double 11 came to a close, China’s consumers were feeling down, and massive changes in consumption patterns prevented this year’s shopping festival from growing as rapidly as in years past.

The shopping craze hasn’t entirely subsided, though, and newcomers are catching up quickly in their transition from content sharing to online shopping. Then, new retail platforms and community group buying e-tailers contributed more information.

For the first time, the combined GMV from all significant e-commerce platforms surpassed 1 trillion RMB, according to Syntun, an independent big data monitoring company.

According to Tmall, the four power pillar industries have changed from being beauty, FMCG, consumer electronics, and clothing to outdoor sports, pet supplies, collectible toys, and jewelry. Sales for 358 brands in those four categories totaled more than 100 million RMB.

Link: https://jingdaily.com/double-11-alibaba-tmall-jd-douyin-consumer-trends/ 

 

Adidas just can’t do it in China anymore

 

Adidas reported revenue growth across the globe, except in “Greater China”

Adidas attributed the weak performance in China to the “challenging market environment,” primarily caused by COVID restrictions, but the company also brought up the high number of product takebacks in China, which had a significant negative impact on revenue. 

Old products that have not been sold or for other reasons are returned to the manufacturing process. Adidas is also dealing with extremely high inventory levels, which in the third quarter saw a 63% year-over-year increase, “due to the pressure on the passenger flow trend in Greater China.”

In China, Adidas is actually no longer listed among the winners. Local champion Anta Sports overtook Nike’s $3.7 billion in sales in China in August after reporting revenue of 25.96 billion yuan ($3.79 billion) for the first half of the year, an increase of 13.8% year over year. Anta Sports is now the largest sportswear brand in China.  

Adidas reported China revenue of 12.19 billion yuan ($1.72 billion), while another local brand, Li-Ning, reported revenue over the same period of 12.40 billion yuan ($1.76 billion). Adidas is now in fourth place in China as a result. 

Adidas recently began a partnership with the China Literature and Art Foundation to better the company’s comprehension of and engagement with local consumers.

 

2022 Autumn/Winter Fashion Trend Report

 

In the second half of 2022, the change of dress concept will be the dominant fashion trend. Strong and delicate coexist. There are many different multilevel dress concepts as a result of the re-integration of vintage clothing with modern materials, fashion, and function. 

After a protracted period of seclusion, consumers have rekindled their desire to dress up, but the retail industry continues to be driven by the idea of outdoor time. 

Men’s clothing focuses on “heavy fabric” and the retro revival, while women’s clothing emphasizes style, material, and function. Women’s shoes continue to innovate, while men’s shoes with multi-scene integration wear are in high demands.

  • Top 9 fashion trend

时髦知识分子Trendy Intellectual 

工装辣妹 Workshop Hottie 

摩登新中式Modern Chinese 

复古运动Retro Sports 

千金大小姐Classy Lady 

南法庄园 Panier Des Sens 

职场精英 Workplace Elite 

城市运动Urban Sports 

通勤汉元素 New Han-Style Clothing

  • Top 10 trending categories

衬衫式羽绒服 Shirt-Style Down Jacket 

粗花呢外套Tweed Coat 

无缝一体打底衫 One-Piece Bottoming Shirt 

轻暖羽绒 Lightweight Down Jacket 

重磅卫衣 Pure Cotton Sweater 

西部牛仔靴Cowboy Boots 

玛丽珍 Mary Jane Shoes 

托特包Tote Bag 

软支撑文胸 Soft Supporting Bra 

巴洛克珍珠项链Baroque Pearl Necklace

Luxury resale platform Plum records 100k customers on Double 11

 

The top three most popular brands during Double 11 were Chanel, Louis Vuitton, and Gucci, the report claims.

 The platform’s success is largely attributable to the business’s 2019 launch of an integrative live broadcast model. Plum has become one of China’s biggest platforms with the highest volume of sales and livestreams in its sector as a result.  

The secondhand luxury platform has expanded significantly since it began operating its circular fashion business in 2021. 

Due to changing attitudes toward used goods in the luxury landscape as well as young consumers who are increasingly willing to purchase pre-owned clothing and accessories, China’s second hand luxury market is currently booming. 

According to iResearch, platforms like Plum, Feiyu, ZZER, and Ponhu are leading the trend in mainland China’s domestic luxury resale market, which was estimated to be worth 51 billion RMB (8 billion USD) in 2020 and is expected to grow to 208 billion RMB (32.75 billion USD) by 2025.

https://daoinsights.com/news/luxury-resale-platform-plum-records-100k-customers-on-double-11/

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