The trade war between the US and China has up to now mainly hit headlines, nervous traders and heated political debates, but there is no doubt consumers will feel the burnt too, says financial analyst Sara Hsu to Reuters. Moving away from China is mostly not an option, she says. “It can take up to five years to move from China to another country.”
Category Archives: consumers
Luxury, as a display of success, is a key element in China, among all different cohorts, says marketing veteran Tom Doctoroff, author of What Chinese Want: Culture, Communism, and China’s Modern Consumer to Emarketer. What they have in common is a Confucian culture, binding all Chinese together, he says. If explains the longing for luxury.
Alibaba’s chairman Jack Ma announced he will turn over the reins of his company to the next generation of executives next year. But business analyst Shaun Rein, author of The End of Cheap China, Revised and Updated: Economic and Cultural Trends That Will Disrupt the World, wonders if the new generation takes over Ma’s magic spell over staff, users and investors, he tells to Inkstone News.
Consumers in China have become more sophisticated over the years in the way they handle brands, says China veteran Tom Doctoroff, Chief Cultural Office or Prophet and author of the bestseller What Chinese Want: Culture, Communism, and China’s Modern Consumer, at the occasion of the 2018 Prophet China Brand Relevance Index(TM) at the Market Business Inside.
China-vlogger Ashley Dudarenok explains at Malaysian TV how China changed her, and how she developed into a personal brand, working at social media. And of course: Much about the new retail, e-commerce and developing opportunities in China.
Bullet Messenger profiled itself last week at a competitor of WeChat, and got a lot of interest, certainly from investors. But its mission might be very tough to achieve, says WeChat expert Matthew Brennan at PYMNTS. “This is not a WeChat killer.”
The luxury consumer price index (CPI) went up 4.1% in the first five months of 2018, the highest rise since 2012, says Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, according to the Global Times.
E-commerce platform Douyin or Tik Tok has added new functions for both users and brands, explains e-commerce expert Ashley Dudarenok at AskleyTalks. Users can link up directly to Taobao, making it tighter linked to e-commerce leaders. And brands can get their verified accounts, more data on their visitors and more other insights.
Media are looking for winners and losers in the trade war between China and the US, and while damage can be inflicted in the short run, China is going to outlast an economic war with the US, says renowned economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know to Money Week.
Marketing guru Tom Doctoroff denies stories about a downgrade of consumption in China, as some assume. There is less bling in the bigger cities, but the rest of the country sees more consumption as people just get enough income to start consumers, he tells at CGTN.