China’s digital economy has always been ahead of its time. When the rest of the world started paying attention to QR codes and live commerce platforms because of the pandemic, Chinese citizens had long been utilizing these trends for their daily needs.
As China continues to rely on imported food, foreign manufacturers and brands are now more eager to enter the local market. The only problem is, how can they convince Chinese consumers to patronize their products?
The lunar new year is right around the corner! For foreign brands in China, it’s a golden opportunity to resonate with the local market through traditional Chinese culture and festivities. Last year, this festive season generated $2.2 trillion in e-commerce sales for China. With Chinese consumers ready to spend their money during this public holiday, your marketing strategy must be on point.
The rise of online shopping trends has significantly accelerated the development of today’s Chinese market. Cosmetics brands, in particular, showed increased demand for the past few years, with over $15.49 billion predicted revenue in 2023.
The demand for premium cosmetics products in China has long been driven by the perception of luxury goods as status symbols. If you think about it, the craze is also fundamentally fueled by the cultural influence of Chinese beauty standards.
When talking about Chinese beauty standards, most people often think that it refers to the expected physical appearance of women in China. However, over the past few years, the male beauty categories have started gaining popularity and are setting a new trend in the local cosmetics market.
Chinese consumers have always been enthusiastic about buying health products or any brand related to wellness. This strong preference stems from a cultural standpoint, where traditional Chinese medicine is believed to be an effective medical system to prevent illnesses.
The conclusion of the previous pandemic has noticeably led to rising demand and consumption within the Chinese fragrance market. With local headlines reporting positive market insights and growing perfume sales, international brands are becoming more eager to seize this opportunity.
As November 11 approaches, Chinese consumers gear up for the biggest shopping season in the local market. The impact of this festival is relatively connected to the fact that it occurs on the same day as China’s Singles Day.
Although Chinese watch brands have gained international recognition over the years, there’s no denying that the country’s local consumer market still strongly prefers foreign luxury watches.