2016 has been a turbulent year. From Briexit to the surprising result of the U.S. presidential election, the world is undergoing dramatic changes. In the meantime, another force is rising that will have a far-reaching impact – the rise of China’s middle class. As the year draws to an end, here is a recap of the top 10 stories about the rapidly-changing Chinese consumers in 2016.
600 Million Consumers, 3 Emerging Trends
The Chinese economy may have slowed down, but Chinese consumers haven’t. They have been surprisingly resilient, driven by the desire for a better life. They are also maturing and modernizing rapidly. Here are three emerging trends about China’s consumers: Continue to read >>
It’s Time For Facebook To Copy WeChat
Many in the West have long disdained Chinese firms as copycats. Some believe that no innovation from China can be called original. But this is changing. In the example of Tencent’s WeChat, the Chinese social media platform, Western equivalents such as Facebook Messenger, What’s App, or Twitter look hopelessly inferior. Continue to read >>
Apple: A Trend Follower In China
It was not too long ago that Apple’s iPhone was a status symbol among young Chinese middle class consumers. This has changed. Chinese consumers no longer buy into the hype they once did in the iPhone. These days, Apple looks like “a trend follower” and is struggling to “keep itself interesting” in China. Continue to read >>
Three Innovative Ways To Reach Chinese Consumers
The Chinese super app WeChat is not only a superior social media tool, it is also at the forefront of mobile e-commerce innovation. It offers brands opportunities to interact with customers and drive online-to-offline activities. WeChat’s payment system allows consumers to buy directly from merchants without the need to leave the app. Its true potential has yet to be tapped. Continue to read >>
Why China Can Dominate Next-Generation Manufacturing
China’s new 10-year plan, called “Made in China 2025,” aims to modernize China’s manufacturing with advanced technologies such as robotics, 3-D printing, cloud computing and big data. There are signs that Chinese industries are catching up with, and in some cases, even exceeding the West. Continue to read >>
How Starbucks Can Help Revive China’s Lost Tea Culture
China may have thousands of years of tea-drinking history, but its tea culture has been largely lost. Enter Starbucks. With Teavana, the U.S. coffee giant can very well help reinvigorate a new tea culture in China. Continue to read >>
Two Reasons Chinese Millennials Have More Cash To Burn
Chinese millennials aren’t indebted with student loans. Many of them don’t have housing expenses. About 90 % of Chinese households own their homes, and 80 % of these homes are owned without mortgages. That is why they spend all of their incomes. Continue to read >>
Three Strategies To Win In China’s E-Commerce Market
China’s e-commerce market is the largest in the world, and has been growing by double digits. However, Chinese shoppers behave differently than their Western counterparts, and market conditions are fundamentally different as well. In order to win in China’s e-commerce market, the following three strategies are essential. Continue to read >>
How Alibaba Is Creating The Future Of Commerce On 11/11
Since it was launched seven years ago, Alibaba’s Singles Day shopping festival has become the largest shopping day on the planet. This year’s Singles Day will be like no other. From virtual reality shopping to live streaming fashion shows to augmented reality games, Alibaba is bringing us the future of retail on this year’s Singles Day shopping festival. Continue to read >>
What To Expect From Trump’s China Ambassador
President-elect Donald Trump nominated the Iowa governor Terry Branstad as his ambassador to China. Mr. Branstad knows the Chinese President Xi Jinping personally for over 30 years. What does this mean for the US-China relationship? Continue to read >>
China’s Millennial Consumers: What Victoria’s Secret Got Wrong, And Nike Got Right
Chinese millennials are a new breed of consumers who will shape the future of commerce. They are very interested in consumption and excited by it. But reaching them isn’t easy. Companies must understand them intimately in order to win their hearts and minds. Continue to read >>