To keep businesses up to date with developments in China, Reuter Intelligence – the leader in Asia luxury research – produces the China Luxury Briefing. It’s a weekly bulletin of news across luxury sectors – subscribe here to read about economic recovery, brand news and key insights.
This is a selection of recents news from the Briefing:
The consumer and COVID-19: Global consumer sentiment research in the consumer products and retail industry
Capgemini, April 2020
In this fast-changing and volatile environment, how can consumer products and retail organizations drive operational resilience and maintain their pre-crisis focus on customer relationships and engagement?
In China, Offline Retail Isn’t Going Back to Normal
Gartner, 27 April 2020
Nearly three months after large swaths of China entered lockdown over COVID-19, the country is gradually settling into a new post-lockdown phase of the crisis. But China’s struggling large-format offline retailers still face elevated pressure to shift to digital channels, potentially creating one of the first permanent changes in China’s economy to result from the novel coronavirus.
Tmall Announces Its Online Outlet, Luxury Soho
WWD, 25 April 2020
Alibaba Group’s business-to-consumer online marketplace Tmall unveiled its “Luxury Soho” channel on April 20, marking China’s largest e-commerce giant’s entrance into the luxury outlet business. The new initiative, in parallel with Alibaba’s Luxury Pavilion, a site created for high-end brands on to sell on Tmall, is expected to increase high-end brands’ digital footprint in post-COVID-19 China.
Swatch CEO says China sales rise but global situation still grim
Fashion Network, 26 April 2020
Swatch Group’s sales at its own stores in China are up by almost a quarter during April, the watchmaker’s Chief Executive Nick Hayek told Blick newspaper, but the global situation following the coronavirus outbreak remains tough.
China’s travel agencies diversify to survive coronavirus pandemic, from selling local delicacies to live-streaming culture talks
South China Morning Post, 26 April 2020
As at countless companies across China, business at Bespoke Travel in Beijing ground to a halt at the end of January when the country’s travel industry was put on standstill due to the coronavirus outbreak.
Sephora live-streams 2020 Spring/Summer collection launch
Store Brands, 24 April 2020
Prestige beauty retailer Sephora held its first Virtual Sephora Day on 23 April. The live-stream event introduced the 2020 Spring/Summer collection as well as shared beauty trends. The Taobao live-stream had 494,100 views and 651,000 likes. Fans could also view the live-stream on the Sephora WeChat Mini-Program.
China to launch online shopping festival to boost consumption
China Daily, 23 April 2020
China will launch an online shopping festival to prop up consumption after its economic growth contracted 6.8 percent year-on-year in the first quarter.
How China’s delivery services platforms are evolving, from smart lockers to ‘semi-finished’ meals
South China Morning Post, 24 April 2020
Stuck at home, can’t go to the store to buy food, too tired to cook – “Let’s get a food delivery!”
That has been an increasingly common refrain for millions of people around the world confined to their homes amid the coronavirus crisis, with lockdowns and social distancing measures forcing more into online consumption.