Here are this week’s news and highlights for China:
China’s Millennials Infographic: With as many people as the USA, China’s Millennials are the world’s most important consumer group. Find out what they like from perceptions of the West, entertainment and music preferences, to moral standards for celebrities and more.
House-Proud Chinese Drive Retail Spending: China’s retail sales grew 11.3% last year, with some segments clearly outpacing others.
Chinese People are Most Likely to Feel the World is Getting Better: 41% of Chinese think the world is becoming a better place, nearly twice as high as the second-placed Indonesians according to a YouGov poll of 17 countries. Just 6% of Americans, 4% of Brits and 3% of Australians think things are improving.
Exporters Facing Opportunity With Consumer Spending In Emerging Markets: Just 3% of China’s online population claim they don’t have spare cash they could spend on non-essentials according to Nielsen. 13% of American’s think the same.
Glut of China Shopping Malls a Problem for Those in Poor Locations: Only 10-15% of China’s 83 million sq.m of shopping malls are international grade according to JLL. International-grade malls in prime locations are expected to post more gains at the expense of their sub-standard peers, whose tenants are now moving to bigger and better malls.
WeChat is 5 Years Old. Here’s How It’s Grown: It’s hard to believe that at the start of 2011, there was no such thing as WeChat and very few QR codes in China. There are now more than 650 million active users a month.
1/4 China Smartphone Users Install Foreign Apps: The foreign apps Chinese consumers are most likely to install are tools (31.0%), social communication (15.5%), travel (11.3%) and photography (10.1%).
Online Brand Exposure is Important, says Nestlé, as it Signs Partnership in China: Nestlé appreciates that an online presence in China is more important than just ecommerce sales, but vital to brand building and assisting offline sales.
China Embraces Craft Beers, and Brewing Giants Take Notice: Although a beer in China can cost less than 30c, it’s the imported beers costing as much as $10 a bottle that are growing the fastest in China. With two of China’s largest foreign players, Anheuser-Busch InBev’s and SABMiller becoming one company, there’s a possibility that they will reduce their range to keep regulators happy, and focus on the premium end of the market.
China’s Organic Food Boom Driven by Personal, Rather than Environmental, Concern: Over 50% of Chinese consumers surveyed have some awareness of organic food according to Biofach. There are now more than 2,500 organic food producers across the Mainland, and while most consumers don’t completely trust them, they believe they are more likely to be safe. 50 to 100 million consumers are estimated to have bought organic products.
‘Secret Ingredient’ Used in Some Chinese Restaurants Illegal Drug: China’s Food and Drug Agency busted 35 restaurants across China for using an illegal drug as seasoning in their food – powder from opium poppies.
Volume and Wealth Make Chinese Millennials a Lucrative Target Market: Half of China’s outbound travellers are aged between 15 and 29, with 37% aged 30-44 according to GfK.
Chinese Consumers Still Obsessed with White Skin: The number of searches for cosmetic products has increased 37% on Baidu last year, with whitening products accounting for 70% of all searches.
China Online Education Had Over 72 Million Users in 2015: 72.3 million online education users spent an estimated ¥119.2 billion ($18.1 billion) in 2015 according to iResearch. Learning languages accounted for ¥23.6 billion ($3.6 billion). The online learning industry is forecast to grow around 20% a year to ¥204.6 billion ($31.1 billion) by 2018.
Chinese Luxury Shoppers Increasingly Turning Online: One third of Chinese luxury spend was online in 2015 according to a KPMG survey. The average spend per luxury item was ¥2,300 ($350), with the highest luxury purchase at ¥4,200 ($638) on average – double the 2014 figure. Two thirds said they shop more from overseas online retailers.