Industry Insights by Value China

🤑 Chinese #tourists emerge as the world's biggest spenders, spending $196 billion! In 2023, Chinese tourists have solidified their position as the world's biggest spenders, with total expenditures reaching an impressive $196 billion. This surge in spending is driven by several key factors: the Euro 2024 football championship, the Paris #Olympic Games, and the introduction of direct flights between #China and Europe. 📈 Looking ahead, this upward trend is expected to continue, with projections indicating up to 155 million international trips by Chinese tourists in 2024. This would match the number of trips made in 2019 and could potentially surpass the record spending of $255 billion set that year. According to Global Blue, the average spending per Chinese tourist in France has already increased by 20% in 2023 compared to 2019. 🎫 Influence of Major Events The Euro 2024 football championship and the Paris Olympic Games are significantly boosting #travel bookings to Europe. In Paris alone, flight bookings have surged by 70%, while hotel reservations have skyrocketed by 150%. Year-over-year in July, group travel bookings to France have increased by an astounding 225%, and travel orders during the Olympics have grown by 80%. 💎 #Luxury brands adapt to Chinese tourists' preferences The luxury travel market is undergoing a transformation driven by immersive brand experiences, a trend that resonates strongly with Chinese consumers. Factors such as evolving attitudes toward luxury #consumption, the proliferation of digital platforms and #SocialMedia, and the rise of experiential luxury are reshaping the landscape. These immersive experiences allow Chinese travelers to fully engage with their favorite luxury brands, creating a unique blend of high-end #retail and leisure. By integrating branded experiences into their travel plans, luxury brands are meeting the demand for unique and personalized experiences among Chinese tourists. This shift in the luxury travel market underscores the growing influence of Chinese consumers and the importance of catering to their evolving preferences. As we move forward, the impact of Chinese tourists on global travel and luxury markets is set to remain substantial. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

📚 Uniqlo has launched a hyperlocal #campaign, collaborating with Chinese art and photography book publisher Jiazazhi to produce the "Uniqlo City Journal," a magazines focused on the cities of Wuhan and Shanghai. These journals are designed as urban exploration guides, highlighting coffee shops, art venues, biking routes, and local eateries, with contributions from residents, café owners, and journalists. 📍 Wuhan Edition: Launched during the May Day holiday in conjunction with the opening of our new flagship store in the Chu River and Han Street shopping area, this edition included contributions from the local collective Hans. 📍 Shanghai Edition: Published at the end of May and distributed at the Middle Huaihai Road flagship store, it explores the mix of modern and traditional Shanghai. Uniqlo is expanding its #brand from simple clothing to a broader role in #lifestyle, following in the footsteps of luxury brands. It allows Uniqlo to build a deeper #connection with consumers, leveraging local culture and lifestyle to create a fresh, young, and trendy image through local content and collaborations, which increase its #credibility and resonate deeply with the Chinese audience. 🇨🇳 Young Chinese consumers appreciate initiatives that celebrate the #culture and lifestyle of their cities. It is particularly relevant in the «guochao» movement, which emphasizes the emotional value of local products. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

🚀 eCommerce in #China has seen significant growth in the first five months of 2024, with #online retail sales increasing by 12.4%, reaching 5.77 trillion yuan. 🔹 Online promotions. Events like the "Double Brand Shopping Festival" and "618" have driven sales, with physical goods online retail accounting for 24.7% of total retail sales. 🔹 Service and digital consumption growth. Online service #consumption rose by 23.2%, with inbound travel seeing a 190% boom. #AI-related products experienced a 20.8% increase. 🔹 Sustainability and innovation. eCommerce platforms have expanded recycling programs to over 96% of Chinese cities, with significant sales growth in washing machines, furniture, and mobile phones. 🔹 Digital integration. B2B platforms saw a 6.5% increase in transactions, aided by technologies like automated content generation and intelligent product selection. 🔹 Ongoing #digitalization. With the "Three-Year Action Plan for Digital eCommerce (2024-2026)" and new policies to expand #exports and build overseas warehouses, China continues to enhance the environment for international digital enterprises. These developments highlight the crucial role of eCommerce in promoting economic growth and innovation in China. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

🌟 Following the success of our Shanghai initiative, Louis Vuitton has launched the 'Beijing Vibe' campaign, a celebration of #culture, history, and #modernity. Louis Vuitton's [EXTENDED] #podcast series takes the audience on an auditory journey through Beijing. In collaboration with renowned personalities, Louis Vuitton explores the city's essence through its distinctive sounds. From the bustling calls of street vendors to the tranquil echoes of historic alleyways, each episode weaves together the threads of Beijing's past and present, offering a unique perspective on the city's cultural evolution. 🌆Louis Vuitton wants to craft resonating experiences, and this #campaign is a testament to this philosophy, offering a multi-sensory journey that invites consumers to engage with Beijing's culture deeply. Celebrating the city's vibrancy and diversity, the #brand aims to forge lasting emotional #connections with our audience, enriching their understanding and appreciation of Beijing's unique charm. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

🛬Chinese tourists are coming; how to reach them?   Watch out for the new article born from Value China and Simple Booking - Zucchetti Group collaboration ➡️ https://lnkd.in/dH_KF_9e --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

👨🎓 With a bold #marketing initiative, Duolingo took part in the opening ceremony of Xiaohongshu Life University in Shanghai. 🦉 The mascot Duo was seen on the streets of Shanghai brandishing a kitchen knife. Duo ran after fans in a dynamic "chase and encourage" mode, prompting them to willingly commit to checking in for 10,000 days. Through Xiaohongshu graduation season activities, Duolingo showcased its full "encouragement" image. Although playful, this action highlighted Duolingo's commitment to encouraging long-term learning habits among its users. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

💬 Which co-branding #collaboration strikes you the most? 🍔 KFC x Genshin Impact: "Miracle Moments, Delicious Reappearance" has reached its third anniversary, marking another exciting #partnership. The collaboration spotlights two characters from Genshin Impact's new region, Fontaine: Lyney and Lynette. In the promotional video, these siblings use their magic to reveal the secret recipe for KFC's delicious fried chicken, rescuing a merchant in distress and establishing a "delicious empire" through their culinary prowess. Through these elements, the campaign effectively blends the real and virtual worlds, offering fans of Genshin Impact a unique, interactive #experience that combines their love for the game with the enjoyment of KFC’s offerings. The collaboration not only promotes KFC’s products but also deepens the connection between the game and its community. 🚗 MINI x Yu Qian: This #campaign by MINI Cooper for the launch of their new electric MINI Cooper in collaboration with renowned Chinese comedian Yu Qian is a well-thought-out, multifaceted #marketing effort to reinforce the #brand's image as youthful, stylish, and fun. Yu Qian stars in a short film where he humorously teaches the importance of the "er" sound in Chinese (儿化音), linking it to the brand name "MINI COOPER" and turning everyday words into playful terms. This linguistic twist not only entertains but also cleverly integrates the product name into a memorable context. By involving a local #celebrity and incorporating elements of Chinese culture (like the "er" sound), MINI effectively localizes its global brand to resonate more deeply with the Chinese audience. This #strategy helps break cultural barriers and makes the brand more relatable. 🐆 CASETiFY x Nanjing Hongshan Forest Zoo CASETiFY’s campaign in collaboration with Nanjing Hongshan Forest Zoo effectively combines product innovation, environmental #sustainability, and social #responsibility. By adopting zoo animals, launching themed products, and promoting recycling, the campaign is poised to enhance brand image, engage a diverse audience, and contribute to meaningful environmental and social causes. Each collaboration effectively utilizes unique elements to strengthen brand identity, resonate with target audiences, and promote engaging experiences tied to their respective themes. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

🔥⛺ The "wild eat" is the latest craze taking over Chinese #SocialMedia, where adventurers share their outdoor dining experiences in breathtaking natural settings like mountains, rivers, and meadows. What sets "wild eat" apart from traditional picnicking?  It's all about immersing yourself in the wild, tapping into the primal allure of #nature, and basking in the unfiltered beauty of the great outdoors. 🏞️ "Wild-eat" offers an escape from the metropolis, inviting you to reconnect with nature and unleash your inner explorer. It's a refreshing breath of fresh air in our fast-paced, tech-driven city life, showcasing the raw simplicity and wonder of the natural world and inspiring others to seek their #adventure. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

🌟 "Brave, extraordinary, and authenticity" lend themselves to POP MART to launch MEGA SPACE MOLLY 1000%; those values are transferred to the image of the character through the design of the golden spacesuit, conveying a sense of bold exploration and exceptionality. The @Lamborghini limited edition MEGA SPACE MOLLY 1000% maintains the charm and appeal of Pop Mart's toys while adding the #luxury and high-end elements of the automotive brand, creating a unique visual impact. The campaign not only attracts Pop Mart fans but also Lamborghini enthusiasts, allowing the two brands to reach diverse audiences, increasing product exposure and the potential consumer base." --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend

CHINA IN A MONTH 🇨🇳 🇮🇹 Boosting Italian #exports to #China Sace announces a new €200 million Push Strategy operation to develop new export opportunities for #MadeinItaly products in China. This initiative particularly benefits SMEs in the mechanical engineering, automotive, food & agriculture, and chemical sectors. 6️⃣1️⃣8️⃣ Shopping Festival takeaways #China's annual 618 mid-year #eCommerce festival experienced a sales decline for the first time in 8 years, according to Syntun, indicating a slow recovery in the world’s second-largest economy. The festival's gross merchandise value (GMV) fell 7% from last year to $102.3 billion. • Traditional eCommerce platforms: GMV reached 571.1 billion RMB, with Tmall leading the pack. • Livestreaming eCommerce: outstanding performance with a GMV of 206.8 billion RMB. • New retail platforms: achieved a GMV of 24.9 billion RMB. • Community group buying platforms: recorded a GMV of 13.9 billion RMB. This year, many platforms focused on enhancing user experience and consumer value by cancelling pre-sales. Xiaohongshu, in particular, shined during the festival, with #LiveStreaming order volumes increasing 5.4 times and GMV from in-store broadcasts growing fivefold compared to the previous year. AI tools go mainstream. During 618, Taobao customers could use a large language model (LLM) based AI chatbot Wenwen to summarise the pros and cons of similar products, generate purchase recommendations, and compare deals to get the best prices. ✈️ Surge in European Travel Bookings from China. According to Ctrip, travel bookings to Europe, including Italy, have surged by 80% compared to the previous year. Italy, along with France and Germany, has seen a 150% increase in bookings from Chinese tourists, fueled by visa-free entry and major sporting events like the Paris Olympics and the European Football Championship. 🧓 China’s elder #economy hits US$2 trillion in value. According to the China Insights Consultancy report, low-cost travel, eCommerce, and live-streaming by older influencers are among that population’s cohort. On the #travel front, 60% of Chinese people over 45 travel three or more times per year and prefer travel that touches humanities, history and traditional culture. In eCommerce, 34.7% of those 45 and older named online platforms as a normal shopping channel, while only 11.3% of those over 75 do the same. As more seniors become familiar with #content eCommerce platforms, their overall penetration rate will increase. The 45-plus contingent also shops lavishly for online classes, fitness programmes, beauty products and healthcare with strong “service quality”. --- Follow Industry Insights by Value China 🔔 to stay updated on the #ChineseMarket, #ChineseConsumer, #China, #Trend