2016 has been a turbulent year. From Briexit to the surprising result of the U.S. presidential election, the world is undergoing dramatic changes. In the meantime, another force is rising that will have a far-reaching impact – the rise of China’s middle class. As the year draws to an end, here is a recap of the top 10 stories about the rapidly-changing Chinese consumers in 2016. Continue reading
Chinese millennials are a new breed of consumers who will shape the future of commerce. They are very interested in consumption and excited by it. They constantly live-stream fashion shows on their phones and discuss about new trends.
Yet, they are also torn between the old and new. They are conflicted between their national pride and their love for western brands. They are struggling to find their own individuality in a collective culture.
At a recent fashion show in Paris, Victoria’s Secret tried to woo Chinese consumers by showcasing dragon-themed lingerie. The supermodel Elsa Hosk appeared on the runway with an elaborate dragon wrapped around on her body, Kendall Jendall wore a pair of phoenix wings made of feather, and Adrian Lima cat-walked in a pair of dragon-embroidered stiletto boots.
But Chinese consumers found these outfits distasteful and tacky. Continue reading
One never knows whether President-elect Donald Trump means what he says or says what him means.
After his provocative phone call with Taiwan president Tsai Ing-wen and his tweet storms bashing China, many China watchers started to worry that a US-China trade war might be imminent.
But then, he nominated the Iowa governor Terry Branstad as his ambassador to China, a move immediately welcomed by Beijing. Mr. Branstad is considered “a longtime friend of the Chinese people,” and knows the Chinese President Xi Jinping personally.
If approved by the Senate, Mr. Branstad can play a positive role in US-China relations.
First, the Chinese value personal relationships more than anything else. Continue reading
This short video from Alibaba is a great summary on how China is creating the future of commerce.