In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of July 7-11, 2014.
We’ve heard many times that China’s middle class is on the rise, and that means dramatic changes when it comes to Chinese consumer demographics. In order to give an overview of the key characteristics of how this important group of customers will look less than six years from now, marketing firm getchee has put together a handy infographic.
Good bargains and promotions are mandatory in China’s e-commerce market, and flash sales and group buying (tuangou wang) are strong incentives to buy online. Convenience is also a key driver: with a varied number of payment methods, including those through social and mobile apps like Weibo or WeChat, one can buy any kind of product–even a car.
As the provisions of China and Switzerland’s bilateral free trade agreement (FTA) signed last year are set to take effect, Swiss watchmaker Hublot commemorates the milestone with a special-edition watch that was presented to Chinese officials at the 2014 Sino-Swiss Economic Forum in Beijing last Tuesday.
In Bain’s recently released 2014 “China Shopper Report,” the global consulting firm takes a close look at the fast-moving consumer goods (FMCG) category, which includes food, beverages, personal care, and home care. It concludes that this “fast-moving” market is actually slowing in China, meaning that brands need to work harder to gain a bigger piece of the market share that already exists rather than hope to bank off growth. As this new reality sets in, Bain finds that Chinese brands have posed formidable competition to foreign companies, causing them to “lose share” in 26 categories examined for the study in 2013.
Wang Jianlin may be the chairman of Dalian Wanda Group, one of China’s largest real estate developers, but he’s not content to rest on his laurels. In a video interview, Wang discusses his successes, and how expanding beyond China is a logical step for the group.