Trends in the 11/11 festival – Ashley Dudarenok

 

Ashley Dudarenok

China’s Double 11 consumer festival has kicked off for its longest edition ever with five weeks. Consumption expert Ashley Dudarenok looks at this year’s trends for Campaign Asia. Dudarenok, author and China digital expert predicts that countries such as Singapore, Malaysia, Thailand, Japan, and South Korea—now part of the “free shipping zone”—will see a sharp rise in new users.

Campaign Asia:
Ashley Dudarenok, China digital transformation expert and founder of ChoZan, agrees, noting that “emotional consumption” is on the rise, particularly among younger Chinese consumers. “Toys and plushies are popular for comfort and stress relief,” she says, pointing to Jellycat’s dominance in the plush toy category, even surpassing Disney last year.
Taobao and Tmall’s official data have identified several booming consumption trends, including designer toys for young adults, pet products, and niche home appliances and furniture. As of October 24, 284 brands surpassed $14 million in sales. In particular, the beauty, fashion, sports & outdoor, and digital product categories have seen significant growth this year. Zhang refers to this phenomenon as the “lipstick effect,” an economic theory suggesting that “people are more likely to buy small, affordable luxuries when facing economic uncertainty. Hence the rise of small luxury purchases such as lipsticks, fragrances, concerts, wellness products and pet products”. Dudarenok, with years of observation from China marketing, sums up that consumers are buying more furniture and appliances. A total of 224 brands surpassed their entire first four-hour performance from last year. “The IP economy is still thriving”,  and Tmall now features over 1000 IP-based products to meet rising fan interest. She also highlights “Apple’s increasing efforts to attract budget-conscious buyers in China by making premium devices more affordable during the annual shopping festival. Apple quickly achieved one billion yuan in sales within just five minutes on Taobao and Tmall”…
Dudarenok, author and China digital expert predicts that countries such as Singapore, Malaysia, Thailand, Japan, and South Korea—now part of the “free shipping zone”—will see a sharp rise in new users as well. Early data from Singapore and Hong Kong already show a doubling of new consumers compared to last year.

More at Campaign Asia.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more consumption experts at the China Speakers Bureau? Do check out this list.

Customer centricity: key in a competitive market -Ashley Dudarenok

 

Ashley Dudarenok

Customer centricity is key in a competitive markets, more than customer friendliness, says marketing expert Ashley Dudarenok on her weblog. “China’s approach to customer centricity has been transformative, driven by a combination of technological integration and a deep understanding of consumer behavior,” she writes.

Ashley Dudarenok:

At the core of customer centricity is the focus on meeting customer needs. By truly understanding and fulfilling customer expectations, businesses can enhance customer satisfaction. Improved customer satisfaction brings numerous benefits, including increased customer loyalty and retention.

Satisfied customers are more likely to become brand advocates and provide positive word-of-mouth referrals, contributing to the growth of the business. Moreover, businesses that prioritize customer satisfaction create a distinct competitive advantage by differentiating themselves from rivals.

Hgh levels of customer satisfaction lead to a higher likelihood of customer forgiveness in the event of occasional service issues or mistakes. When customers feel valued and their needs are consistently met, they are more understanding and forgiving of any shortcomings.

More at Ashley’s weblog.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Would you like her to be at your meeting or conference? Contact us or fill out our speakers’ request form.

Are you looking for more marketing experts at the China Speakers Bureau? Do check out this list.

What can a newcomer to Shanghai expect from commerce – Sharon Gai

 

Sharon Gai

Paula Macaggi, the founder of OFFBounds, sets off for her first trip to Shanghai and questions e-commerce expert Sharon Gai, the author of  Ecommerce Reimagined: Retail and Ecommerce in China on what she can expect on her journey. Key Takeaways: •⁠ ⁠The super app experience with WeChat •⁠ ⁠How China’s retail is about content and entertainment •⁠ ⁠Unique consumer behaviors and retail experiences only found in China •⁠ ⁠The rise of sustainable consumption in Chinese e-commerce.

Sharon Gai is a speaker at the China Speakers Bureau. Would you like her at your meeting or conference? Contact us or fill out our speakers’ request form.

Are you looking for more e-commerce experts at the China Speakers Bureau? Do check out this list.

How China leads the world in AI patents – Ashley Dudarenok

 

Ashley Dudarenok

Innovation expert Ashley Dudarenok explains how China leads the global competition for AI patents, six times over the US, she tells at TikTok.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers’ request form.

 Are you looking for more innovation experts at the China Speakers Bureau? Do check out this list.

Video Player

00:00

01:47

 

Hurun China rich list loses 30% of its billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

The Hurun China rich list published its 2024 results and its chairman Rupert Hoogewerf saw 30 percent of the country’s billionaires disappear, he says on CNBC. “The Hurun China Rich List has shrunk for an unprecedented third year running, as China’s economy and stock markets had a difficult year,” said Rupert Hoogewerf.

CNBC:

China has 1,094 individuals with wealth exceeding 5 billion yuan ($700 million), down by 12% or 147 individuals from the previous year, according to Hurun Research. The combined wealth of these entrepreneurs amounted to $3 trillion, 10% lower than last year.

The country’s billionaire count dropped by 142 to 753 from a year earlier — and down more than 30% from the 2021 high of 1,185.

“The Hurun China Rich List has shrunk for an unprecedented third year running, as China’s economy and stock markets had a difficult year,” said Rupert Hoogewerf, Hurun report chairman and chief researcher.

The current rich list predominantly comprises entrepreneurs from the technology, consumer electronics and new energy space, from what used to be dominated by real estate developers, Hoogewerf noted.

“The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy,” he said.

The new generation of Chinese entrepreneurs are also more international than their predecessors, Hoogewerf observed, citing how ByteDance’s Zhang went global with TikTok and Pinduoduo’s Huang crafted Temu’s ascent as a global e-commerce hub.

 

More at CNBC.

Rupert Hoogewerf Is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers’ request form.

Are you looking for more stories by Rupert Hoogewerf?  Check out this list.

Pleas

How pilgrimages and the China state relate to each other – Ian Johnson

 

Ian Johnson in Berlin

Islam and Christianity often get a hard time from China’s authorities, while local beliefs, Taoism, and Buddhism enjoy the support of the government. Journalist and researcher Ian Johnson, author of The Souls of China: The Return of Religion After Mao, followed local pilgrimages for almost a decade and recently joined the Wissenschaftskolleg zu Berlin to study the relation between those beliefs and the state, he tells in an introduction at the start of his new study.

Ian Johnson is a speaker at the China Speakers Bureau. Would you like him at your meeting or conference? Contact us or fill out our speakers’ request form.

Are you looking for more experts on cultural change at the China Speakers Bureau? Do check out this list.

China investors should be trading down today – Shaun Rein

 

Shaun Rein

While bullish on the Chinese economy in the long run, business analyst Shaun Rein at CNBC says investors should still be trading down today. While the government financial mini-bazooka has revived the equity markets quite well, he adds, it is not enough to get the economy rolling again.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers request form.

Are you looking for more financial experts at the China Speakers Bureau? Do check out this list.

A

Why movies in China are doing suprisingly well – Ben Cavender

 

Ben Cavender

Consumer spending in China might be in the doldrums, but a remarkable exception is the movie industry, says business analyst Ben Cavender in the Wall Street Journal. Visiting film theaters has become an affordable time out for friends and families of more tight-fisted consumers, he says. The planned expansion of the number of theaters to 5,000 per year shows the industry’s optimism. Also: domestic movies are doing better than the previously popular foreign competitors.

Ben Cavender is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more consumption experts at the China Speakers Bureau? Do check out this list.

How AI will move the metaverse forward – Alvin Wang Graylin

 

Alvin Wang Graylin

Innovations expert Alvin Wang Graylin, global VP of HTC and co-author of Our Next Reality: Preparing for the AI-powered Metaverse explains at the AI Shift podcast how AI is going to push the metaverse forward.

Alvin Wang Graylin is a innovations expert at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers’ request form.

Are you looking for more innovation experts at the China Speakers Bureau? Do check out this list.

Alvin recently became the chair of the Virtual World Society. 

Consumer spending down under economic pressure – Ashley Dudarenok

 

Ashley Dudarenok

China’s consumers spend less on luxury products, especially foreign brands, says marketing expert Ashley Dudarenok at the state-owned China Daily. Only domestic luxury brands are partly escaping that downward trend, she says.

China Daily:

Western luxury brands are particularly affected by these shifts. A recent survey of 2,000 Chinese consumers by Investment firm TD Cowen found that only 17% plan to increase their luxury spending, while 64% plan to spend more on travel. Many consumers are gravitating toward domestic brands or opting for more sustainable, personalized, and culturally relevant products.

“Chinese consumers are buying fewer luxury goods as economic challenges take a toll on spending,” Ashley Dudarenok, founder of the China digital marketing agency Alarice, tells Jing Daily. “There’s also been a noticeable shift in mindset, where flaunting luxury brands is now seen as shallow and disconnected from reality.”

Instead of focusing on brand logos, consumers are increasingly valuing outstanding product quality and unique style.

“While some ultra-high-end brands still benefit from their heritage and cultural significance, the overall trend is moving away from overt displays of brand loyalty,” Dudarenok says….

Rising youth unemployment and low consumer confidence are shaping the luxury market. Youth unemployment reached 18.8% in August and the Consumer Confidence Index dropped to 86 in July.

“As consumers grow more cautious about spending due to uncertainty around job security and income, luxury brands may struggle to maintain previous growth levels. Fewer first-time luxury buyers are entering the market, posing a long-term challenge to the sector’s growth prospects,” Dudarenok says.

While foreign brands face challenges in the market, Chinese luxury brands are gaining momentum.

“Domestic brands like Duanmu and Shang Xia are gaining traction by leveraging their understanding of Chinese culture and consumer preferences,” Dudarenok says. “Unlike foreign brands that often dominate the market, these local brands focus on products deeply rooted in Chinese traditions, such as those incorporating Traditional Chinese Medicine in cosmetics. This cultural alignment resonates with consumers, particularly as national pride grows among Chinese shoppers.”

More at the China Daily.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Would you like her to be at your meeting or conference? Contact us or fill out our speakers’ request form.

Are you looking for more experts on consumption? Do check out this list.

No structural reform expected for China – Arthur Kroeber

 

Arthur Kroeber

Despite the hope of the international financial community, China is not heading for structural reforms, says leading economist Arthur Kroeber, author of  China’s Economy: What Everyone Needs to Know®, to CNBC. Pushing up demand is not high on the agenda for China’s leadership, he says, and they do not want to push up debts levels to new heights.

Arthur Kroeber is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more strategic experts at the China Speakers Bureau? Do check out this list.

New energy industry: key for urban development – Rupert Hoogewerf

 

Rupert Hoogewerf

China’s new energy industry is key in creating wealth, says Rupert Hoogewerf at the Hurun website, reporting on the Global Unicorn Index 2024. “In the latest Hurun China Top 500, new energy has risen to fifth place, with 36 companies making the cut.  This was significantly up on just five years ago, when there were a mere 14 new energy companies, making the industry not even a Top 10,” says Rupert Hoogewerf.

 

Rupert Hoogewerf:

“The new energy industry is a strong driving force for urban development, which is not only a catalyst for economic transformation and sustainable development, but also an important indicator to measure the city’s innovation, talent and industrial attractiveness. China’s major cities are exploring their own new energy-related value, which is critical to the overall development of China’s new energy industry chain. We created this list to recognize cities that have made significant achievements in the field of new energy, while encouraging more cities to play a part in building a sustainable green future.”

“In the latest Hurun Global 500, Tesla led a group of only five new energy companies that made the list. 3 were from China, CATL, BYD and Li Auto, whilst two were froim the US, led by Tesla and Florida-based Nextera Energy.

“In the latest Hurun China Top 500, new energy has risen to fifth place, with 36 companies making the cut.  This was significantly up on just five years ago, when there were a mere 14 new energy companies, making the industry not even a Top 10.”

“In the Global Unicorn Index 2024, there were 58 new energy-related companies, of which 41 were in China and in the latest edition of the Hurun Future Unicorns (including Hurun Global Gazelle Index and Hurun Global Cheetah Index), there were 23 new energy-related companies.”

“China’s new energy story can also be inspired by the stories of entrepreneurs on our Hurun China Rich List. The first wave of new energy entrepreneurs was represented by Shi Zhengrong of Wuxi Suntech in 2006, the second wave was Li Hejun of Hanergy in 2014, and the third wave was Robin Zeng Yuqun of CATL in 2021. All of them made the Top 5 of the Hurun China Rich List. This is now the fourth wave, and while none of them have made it into the Top 5, there are far more of them than before.”

“China’s energy transition investment was significant last year, reaching US$676bn. By comparison, the total energy transition investments of the EU, US and UK combined came to US$718bn. China topped the world in many segments of new energy, and it is interesting that these advantages are scattered across many cities in China, with different cities exploring their own advantages. Some areas have geographical advantages, such as high altitude and thin air in the Northwest, which has a small weakening effect on solar radiation, while the Northwest has little rainfall and rich light resources, which is suitable for the development of photovoltaic industry. Some regions have advantages in natural resources, such as Jiangxi, which has rich lithium reserves. Some cities have industrial base advantages, for example, in the 1960s, Sichuan began to study polysilicon. Some cities, such as Shanghai and Shenzhen, have a complete technology ecosystem that is more conducive to the development of system-level products.”

“Going global has become a very important trend for China’s new energy industry. Many of China’s leading new energy companies now have almost half of their sales from overseas markets, mainly Europe, the Middle East and Southeast Asia.”

“Many new energy vehicles and photovoltaic companies in China are now in the forefront of the world. Competition between cities and companies is likely to cause companies to lose money in the short to medium term, with the share prices of many leading companies down by up to 80% from their peak in 2021.”

“Eastern China has a prominent advantage in the field of new energy, and 25 cities on the list are from Eastern China, accounting for half of the cities from our list. Jiangsu has been the province with the highest concentration of new energy for three consecutive years, with a total of 10 cities on the list, one province accounting for one-fifth of the entire list, and with the cities of Changzhou and Suzhou both making the Hurun New Energy Top 5.”

More at the Hurun website.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers request form.

Are you looking for more strategy experts at the China Speakers Bureau? Do check out this list.

China’s financial measures focus on stability, not on pushing consumption- Arthur Kroeber

 

Arthur Kroeber

Leading economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, says most economists are wrong in suggesting China wants to push consumer demand. Fixing stability is key, he says according to MSN.

MSN:

One expert suggested that investors are misunderstanding China’s intent in providing the stimulus boosts. According to Arthur Kroeber, founding partner of Gavekal Dragonomics, Beijing’s intent isn’t to accelerate the economy by enabling consumers, but simply to stabilize it.

“The economic aims are to stabilize growth and prevent deflation from tightening its grip,” he wrote in the Financial Times. “The market goal is to restore enough confidence so that equity prices post steady, moderate rises. This will reopen the window for new listings and enable the stock market to resume its assigned role of financing China’s industrial policy ambitions.”

More at MSN.

Arthur Kroeber is an expert on China’s economy. Would you like him to speak at your meeting or conference? Contact us or fill out our speakers’ request form.

Are you looking for more experts on China’s economy? Do check out this list.

Pl

Why the mini-bazooka is not enough to restore confidence in China’s economy – Shaun Rein

  

Shaun Rein

Business analyst Shaun Rein, author of The Split: Finding the Opportunities in China’s Economy in the New World Order, explains why China’s mini-bazooka will not help its economy in the long run. People need a serious fiscal stimulus, so they are confident about the economy again, he argues in a talk with David Lin. “People have to feel safe again before they are going to spend the money they made again,” he adds.

Shaun Rein is a speaker at the China Speakers Bureau. Would you like him at your meeting or conference? Contact us or fill out our speakers’ request form.

Are you looking for more financial experts at the China Speakers Bureau? Do check out this list.

How AI helps e-commerce in transforming challenges into opportunities – Sharon Gai

 

Sharon Gai

E-commerce expert Sharon Gai explains how AI is helping her industry transform challenges into opportunities, speaking at Mike Allton’s podcast on strategic marketing with AI. Gai has extensive experience in China and uses her insights to help e-commerce stay competitive in a fast-changing industry.

Sharon Gai is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more experts on e-commerce in the China Speakers Bureau? Do check out this list.