I was interviewed by CBC News, Canadian Broadcasting Corporation, on how Chinese millennials are using social media such as WeChat to buy real estates overseas. See the interview below.
Believe it or not, Chinese millennials have more cash to burn. As I wrote here and here, they do not have student loan debt. And most of them don’t have housing expenses. Most importantly, they are the “One-Child” generation. They grew up privileged, entitled, and wanting to enjoy life.
The Chinese social media sites such as WeChat has integrated payment system. Millennials are very savvy in using social media for all sorts of purchasing, from beauty products to real estate properties.
Apparently, they are also pooling money from family members to buy properties overseas. One reason is that they are hedging against Yuan depreciation. Another reason could be that they feel lack of security under currently system. They want to move money out of the country, and this is another way to do it.
See the original interview on CBC site here.
Ivanka Trump speaks, as President Trump listens, during a meeting with women small business owners in the White House on March 27, 2017. (Photo by Andrew Harrer-Pool/Getty Images)
Despite Trump’s anti-China rhetoric during his campaign,
A survey by Brand USA reveals that the Chinese are the only group indicating that the political climate in the United States under Donald Trump has made them more likely to visit the country than before. This puts them in stark contrast to every other country surveyed, which includes Mexico, Canada, and Australia. Continue reading
Early in March, more than 4,000 people gathered at “Millennial 20/20 Summit” in New York to discuss power of the millennial generation and how they will affect the future of retail.
Chinese millennials, numbering more than 400 million, are a force to be reckoned with. While many have recognized them as ultra-connected consumers, few have realized that this has been caused by their place in history as . This alone sets them apart from other millennials in a most fundamental way. Continue reading
On March 8th, I delivered a keynote speech “Winning Chinese Consumers: A Once-in-a-lifetime Opportunity” at TFWA China’s Century Conference in Guangzhou Four Seasons Hotel.
Here is a brief summary of my speech: Continue reading
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.
Photo credit: Jing Daily
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
Iowa Gov. Terry Branstad shakes hands with Chinese President Xi Jinping before a meeting at the Great Hall of the People on April 15, 2013 in Beijing, China. (Photo by Andy Wong – Pool/Getty Images)
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,
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.
During the 2015 Tmall 11:11 Global Shopping Festival gala in Beijing on November 11, 2015. (Photo credit: STR/AFP/Getty Images)
Alibaba is counting down to its annual shopping bonanza: the Singles Day shopping festival on November 11. Since it was launched seven years ago, it has become the largest shopping day on the planet. Last year, it generated sales of $14 billion, more than double the total online sales from Thanksgiving, Black Friday and Cyber Monday combined in the U.S.
This year’s Singles Day will be like no other. Alibaba wants to make it a global phenomenon. It has already kicked-off a series of warming up events including an eight-hour live-streamed “see now buy now” fashion show from Shanghai, where consumers can order anything they see on the catwalk in real time.
But Here is a sneak peek at what will happen. Continue reading
Recently, American retailer Macy’s announced that it will launch an e-commerce site in China in 2017. Will Macy’s follow the footsteps of other American giants such as e-Bay, which failed miserably, or Amazon, which couldn’t gain much footing in China?
For Macy’s, or any other retailer large or small, the Chinese consumer market is both enticing and intimidating. China’s e-commerce market is the largest in the world, and has been growing by double digits. However, Chinese shoppers behave differently than their Western counterparts, and market conditions are fundamentally different as well.
In order to win in China’s e-commerce market, the following three strategies are essential. Continue reading