Jing Daily

With China’s consumer confidence in 2024 still taking hits, the recovery of luxury goods consumption has proven to be volatile. Some brands like Miu Miu achieved stratospheric growth as of recent, while some heritage brands, have suffered. Strategic product lines, revamped media campaigns, and consumer sentiment have all played a part in the success of some brands more than others. As social media impact is key to brand performance in China, Re-Hub’s quarterly Compass Index provides a barometer of impact and consumer noise. Here is our latest coverage with supporting data as Q2 has come to a close:

China’s beauty market is booming, driven by senior spending, holistic wellness, immersive retail experiences, and yes even innovative #sunscreen products. In our latest assessment of the c-beauty market, Lisa N. breaks down the full spectrum of cultural shifts and consumer demands fueling the growing of #beauty + #wellness in the region.

It's no surprise that China has established itself as a formidable leader in social commerce. Users literally can browse and purchase directly through social apps and even creator platforms with zero friction. According to McKinsey & Company vast user bases and sophisticated platform integrations are the obvious reasons as to why as they forecast the market will expand to $145 billion by 2027, up from $67 billion today. Here we take a deeper look into exactly who comprises that buyer segment and the platforms leading the way.

The men's fine jewelry market is poised to outpace the women's sector in annual growth rate, reshaping the global luxury landscape. In China, pop stars such as Wang Yibo and Jackson Yee have driven the trend toward gender-fluid fashion, normalizing traditionally feminine jewelry for men. But with local brands commanding a home-field advantage, is it too late for global jewelers to cash in?

China’s Gen Z is redefining how diamonds are perceived and purchased. 💎 Understanding this cohort's unique characteristics is essential for stakeholders seeking long-term success in the diamond industry. From self-purchasing to embracing "quiet luxury," here are the top diamond trends among China’s youngest luxury consumers.

With the global luxury market estimated to grow just 0-4% in 2024, luxury brands are at a crossroads. The choice: focus on high-spending customers or broaden their appeal to new demographics. To address these challenges, luxury brands are exploring a variety of strategies. Will they work in China?

Douyin vs. Xiaohongshu: Which is the ultimate social commerce platform?   During the 618 festival, Douyin recorded a total of 40.5M hours of livestreams, with 183 broadcast sessions generating over $1.37M (10 million RMB). Meanwhile, Xiaohongshu witnessed a 5x surge in both order volumes and GMV attributed to livestream sessions. Here’s a look at the strengths of each platform and the brands that reaped the benefits during this 618 extravaganza.

Even Richemont is not immune to global luxury market fluctuations. The Cartier owner reported a 5% decrease in operating profit in FY24 despite a 3% rise in sales, reflecting global market challenges and substantial impairment charges linked to its watch reselling unit. Changing consumer sentiment in China is also posing significant risks.

🚨 New York City: We're close to capacity! 🚨 Join us on Monday, June 17, for an expert-led panel on the overseas Chinese consumer. RSVP here: https://lnkd.in/gzF--3qf

The microdrama market in China is experiencing unprecedented growth, projected to surpass 100 billion RMB ($13.7 billion) by 2027. Even industry mogul Stephen Chow cannot resist the format, with his first mini-drama exceeding a million views within an hour. Chinese beauty brands like Kans (韩束) are generating impressive sales by collaborating with popular microdrama KOLs. Which KOLs can global brands partner with for success?