Category Archives: consumers
Some luxury brands keep on growing, despite a recession. Hermes expects to grow, also in the upcoming five years and Ben Cavender, principal at the China Market Research Group explains on China Daily why.
China’s week-long holiday has triggered off record numbers of Chinese tourists, both domestically and internationally, notes Wei Gu, columnist at Reuters. “A rare bright spot.”
Kellog is the second cereal maker, after Weetabix, trying to enter the China market. But ongoing milk scandals have made the market a hard one to crack, tells retail analyst Paul French to AP. Nevertheless, Kellog sees possibilities for growth.
Chinese consumers still buy luxury goods, despite a relative economic dip, says business analyst Shaun Rein in the New York Times. But their preferences are shifting and diversifying, depending on demographics and spending power.
Uncertainty about what might happen tomorrow triggers off China’s high savings rate, a dilemma for marketeers and China’s government alike, explains marketing guru Tom Doctoroff in Adage.
The economic slowdown is now also hurting the confidence of the luxury consumers, concludes rich-list founder Rupert Hoogewerf or Hurun, based on the 2012 Hurun Luxury Price Index, quoted in the China Daily. Growth is the lowest in six years time.