In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of November 18-22.
China’s Unstoppable E-Commerce Market Ready To ‘Explode’#
In case the last week’s massive record-breaking Singles’ Day sales weren’t enough of an indicator of the strength of China’s e-commerce market, consultancy A.T. Kearney has just released a new report listing China as the number one country for e-tail opportunity.
According to the firm’s 2013 Global Retail E-Commerce Index, China’s $64 billion online retail market is expected to “explode” to reach $271 billion in the next five years, placing it at the top of the list for the world’s most promising e-commerce markets. The 30-country ranking includes both developing and developed markets, with Japan and the United States trailing China in second and third place on the list.
6 Vital Facts About The Habits Of China’s Social Travelers#
A full 91 percent of Chinese travelers use social media on their trip. (Shutterstock)
According to a new report, Chinese travelers are hugely reliant on social media both during and after their journey, and some of their habits are dramatically different from travelers hailing from other parts of Asia.
Hospitality company Accor Hotels recently released its Asia Pacific Social Media Monitor, a survey of the social media and other travel habits of tourists from across the Asia-Pacific region. The survey queried more than 5,400 travelers across 11 countries on what they’re up to on social media, and the results on China’s travelers are extremely useful for brands hoping to market to the world’s largest bloc of travelers.
Can Hello Kitty Boost Champagne Sales In China?#
As Champagne bottlers struggle to find ways to market the bubbly drink in China, where gift givers favor more subdued options such as cognac and red wine, one bottler looks to a certain ubiquitous cartoon cat to help give bottle sales a boost.
A recent Drinks Business report reveals that bottler M. Hostomme launched a new Hello Kitty Champagne at the Hong Kong International Wine & Spirits Fair last week in hopes of making the fizzy beverage more appealing in China.
Why China’s Tech-Savvy Trendsetters Are Flocking To Farfetch#
Ever since I first set foot in China in 1999, it seems that global brands have constantly been asking the same question—is China ready for us?
For the best part of the last decade, luxury remained the rarified domain of the moneyed elites—a sector dominated by logo-heavy, high-gloss brands acting as a vehicle for ostentatious shows of wealth.
Increasingly however, pioneering brands have created and profited from the new niche of accessible luxury, or “masstige”, fitting with the aspirations of the increasingly affluent middle classes. On the back of success by players like Coach, many luxury brands are faced with the worrying task of repositioning by offering new lines to appeal to this rapidly rising new consumer.
China’s Billionaires Youngest In The World#
With an average age of 53, China’s billionaires are younger than those from any other country, according to a new research report on China’s wealthy.
The new study by UBS and Wealth-X studied the demographics of 157 known Chinese billionaires, which make up the second-largest group of billionaires in the world after the United States, which has 515. China is gaining ground quickly, however—as can be seen from the chart above, it has the fastest rate of wealth accumulation among billionaires.