Four Things You Need To Know About Chinese Millennials (If You’re Planning To Sell in China)

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Market Updates October 7th, 2022

Four Things You Need To Know About Chinese Millennials (If You’re Planning To Sell in China)

For the past years, China has been known to be one of the world’s largest consumer markets in the world. With over 400 million people, Chinese millennials are the country’s largest consumers and 54% of them use the internet to look, buy and check out items.

So if you are a business trying to bring your brand to China then here are four things you need to know:

You’ll Get Tired of Counting Them

The Chinese millennial population really is big, and we say big — IT REALLY IS BIG. With over 400 million of them, it is undeniable that this group of consumers really can drive various trends in the Chinese market. Groups this size can literally have an impact on the country’s economy, so knowing them and their preferences could be an essential part of your entrepreneurial success.

A Tech-Savvy Generation

Mobile phone usage is very rampant nowadays, this is true not just for the millennials of China, but for everyone around the world. In China, 90% of the millennial population owns and uses a smartphone. And they use it for almost everything they do, from paying bills to shopping, and more. This could be a good sign for e-commerce-based businesses to start for it won’t give them a hard time looking for people who could be their brand’s potential customers.

Cashless
We’re not talking about them being broke, but them doing their transactions through their mobile phones. Chinese millennials are leading the transition from a traditional mode of payment to doing it the cashless way. This would give entrepreneurs an idea to make various payment methods for their customers to choose from.

A Huge Fan of Luxury and Electronics

Chinese Millennials have been huge fans of luxury items and consumer electronics. It has been expected that Chinese consumers would account for 40% of sales of global luxury goods, and it was also reported that Apple had $9.5 billion US dollars in sales just from China alone. This information could be of great help to businesses that are having a hard time coming up with products to sell and bring to the Chinese market.

The world of cosmetics is constantly evolving, with new trends emerging every year. As we look ahead to 2023, it’s exciting to see what the market trends for cosmetics in China will be. From natural ingredients to futuristic technology, here’s what we can expect to see in the world of beauty in the coming year.

Sustainability is key

Consumers are becoming increasingly conscious of the impact their choices have on the environment, and are seeking out products made from eco-friendly and biodegradable materials. Brands that focus on using natural and organic ingredients will likely see a boost in popularity, as consumers seek out products that are not only good for their skin, but also for the planet.

The rise of smart cosmetics

These innovative products use cutting-edge technology to enhance the user’s experience, whether that be through augmented reality try-ons or smart packaging that tracks usage and provides personalized recommendations. Smart cosmetics are set to revolutionize the way we interact with our beauty products, providing us with a more immersive and personalized experience.

Increase in the popularity of multi-functional cosmetics

Products that offer multiple benefits, such as moisturizing and sun protection, will continue to be sought after by consumers who are looking for a streamlined and efficient beauty routine. This trend towards multi-functional products reflects the busy lifestyles of modern consumers, who want to achieve maximum benefits with a minimum amount of effort.

Focus on self-care and wellness

Products that promote relaxation and stress relief, such as aromatherapy and spa-inspired products, will continue to be popular, as consumers seek out ways to take care of themselves both inside and out. In addition, the rise of “skinimalism” – a minimalist approach to skincare – will also continue, as consumers look for simple and effective products that do not over-complicate their routines.

The market trends for cosmetics in China in 2023 are all about finding a balance between technology and nature, efficiency and self-care, and simplicity and luxury. It’s an exciting time to be in the beauty industry, and we can’t wait to see what innovations will emerge in the coming year.

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eCommerce February 7th, 2023

Top 3 Key Fashion Retail Trends in 2023

Fashion retail is an ever-evolving industry that is impacted by various factors such as social, technological, and economic changes. The rise of e-commerce, the increasing popularity of sustainable fashion, and the need for personalization are just some of the trends that are shaping the fashion retail industry in 2023 and beyond.

Online Shopping is still the preferred way to shop post-pandemic

One of the key emerging fashion retail trends is the growth of online shopping. With the rise of e-commerce platforms, more and more consumers are opting to shop for fashion items online, resulting in a significant increase in online sales.

Brands are now investing in their digital presence, creating engaging e-commerce websites, and utilizing social media platforms to reach their target audience. Online shopping has also made it easier for consumers to compare prices and find the best deals, leading to increased competition among fashion retailers.

Caring for the environment is cool

Consumers are becoming increasingly aware of the environmental impact of fast fashion and are looking for brands that prioritize sustainability in their production processes. Brands are now turning to more environmentally-friendly materials and production methods, as well as using packaging that is recyclable and biodegradable.

Personalization is Important

Consumers are looking for clothing and accessories that are customized to their individual preferences and styles. Brands are now using technology, such as augmented reality, to allow customers to virtually try on clothing and accessories before making a purchase. Personalization has also been incorporated into the production process, with brands offering made-to-measure clothing and accessories.

In conclusion, fashion retail is constantly evolving, with new trends emerging every year. The rise of e-commerce, the growing popularity of sustainable fashion, and the need for personalization are just some of the trends that are shaping the fashion retail industry in 2023 and beyond. Brands that are able to adapt to these trends and provide consumers with what they want will be the ones that succeed in the highly competitive fashion retail market.

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Beauty January 31st, 2023

The Direct-to-Consumer (DTC) beauty and fashion industry in the United States is booming, but there’s still room for growth.

One potential market that’s attracting attention is Southeast Asia. Here are four reasons why US DTC beauty and fashion brands should invest in this region.

Reason 1- Growing middle class: Southeast Asia has a growing middle class, with a population of over 600 million people and an increasing purchasing power. This presents a huge opportunity for US DTC brands to tap into a new market and reach a wider audience.

Reason 2 – Digital penetration: The region has high digital penetration, with a large percentage of the population active on social media and e-commerce platforms. This provides a convenient platform for US DTC brands to reach potential customers and showcase their products.

Reason 3 – Cultural influence: Southeast Asia is known for its vibrant and unique beauty and fashion culture, making it an ideal place for US DTC brands to test new products and gain insight into local preferences.

Reason 4 – Strategic location: Located at the crossroads of Southeast Asia, it serves as a hub for international trade and commerce, making it easier for US DTC brands to reach other markets in the region. With its strong transportation infrastructure and favorable government policies, Southeast Asia is an attractive place for foreign investment.

In conclusion, the Southeast Asia region offers a compelling opportunity for US DTC beauty and fashion brands to reach a new market, tap into the growing middle class, and expand their brand’s reach. By investing in this region, US DTC brands can take advantage of its digital penetration, cultural influence, and strategic location, and reach new heights in their global growth strategy.

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Four Things You Need To Know About Chinese Millennials (If You’re Planning To Sell in China)

Four Things You Need To Know About Chinese Millennials (If You’re Planning To Sell in China)

For the past years, China has been known to be one of the world’s largest consumer markets in the world. With over 400 million people, Chinese millennials are the country's largest consumers and 54% of them use the internet to look, buy and check out items.