In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of September 15-19, 2014.
China may be getting more new wealthy individuals every year, but it isn’t necessarily keeping them.
That was the finding of a new survey by Barclays Wealth Insights, which reports that 47 percent of Chinese respondents with a net worth of $1.5 million or more want to move abroad within the next five years in search of better educational opportunities, financial security, and health care.
China’s mobile commerce market is rapidly growing thanks to the fact that Chinese consumers are more open to mobile shopping than those from anywhere else in the world. At the head of the mobile e-commerce game right now is e-commerce behemoth Alibaba’s payment system Alipay, which commanded nearly 80 percent of China’s mobile payment provider market in the second quarter of this year.
Nothing reflects the rules of supply and demand more clearly than luxury counterfeits and knockoffs do as they continue to thrive in China. In addition to fakes sold on China’s “gray market,” the maturing tastes of Chinese consumers have also encouraged the secondhand luxury market to emerge as the bargain-hunting middle class seeks discounted luxury goods in the country. These two booming industries have together spurred the illegal circulation of counterfeit goods—and as a result, have incubated the strong and growing demand for luxury appraisers in China.
As digital marketing becomes increasingly vital in China’s advertising industry, the country’s ad agencies are working to re-allocate their budgets to reflect the market’s new reality. This is a tricky time, however, as marketing firms need to figure out the right balance between social media, community management, and big data while constantly keeping up with rapidly changing new technology, popular platforms, and the growth of e-commerce.
As multibrand luxury shopping centers proliferate across China, Italian department store 10 Corso Como’s second mainland location is launching this fall in Beijing with a focus on offering shoppers a high-end lifestyle concept experience.
One year after its foray into the China market with the opening of its Shanghai spot, the company is preparing to unveil a new 1,100-square-meter space in the city’s Shin Kong Place shopping center. Featuring high-end niche fashion and jewelry brands, 10 Corso Como’s concept is aimed at creating a space for art, fashion, design, and other cultural elements. In order to promote the shopping center’s Italian heritage, the Beijing location is also set to include an Italian restaurant, bar, and cafe, according to the Chinese-language press release.