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Big Retail Stores In China Are Losing To E-commerce
Dec 12, 2014, Business Insider, LinkSummary: Business Insider comments that big retailers like Suning Commerce Group Co Ltd and its foreign competitors Wal-Mart Stores Inc and Best Buy Co Inc are struggling to attract customers to their traditional stores in China, where online shopping is booming.
In China, Showrooms Blossom
Jan 19, BoF, Link
Summary: Business of Fashion comments that traditional fashion retail is weakening meanwhile, showroom wholesaling is emerging as a new trend. Now, there are at least five designer showrooms wholesaling in China, including companies like DFO, VDS, and Project Crossover, which tend to focus on European designer brands; specialists like Ontimeshow; and Showroom Shanghai, the mainland’s leading designer complex selling brands from both China and abroad. Showrooms not only provide a much-needed wholesale marketplace, but also are giving rise to multi-brand designer boutiques around the country.
SmithStreet Insights: “The mega brands need to start to think about 2 things: First, how much of threat it would be? How fast would this trend spread to lower tier cities beyond Shanghai and Beijing? How fast consumers are catching up in terms of sophistication? Second, where would mega brands be on the consumers experience curve given the new competition category joins the game?” – Jasmine Sun, Manager & E-commerce Expert
Tapping China’s ‘Silver Hair Industry’
Jan 19, WSJ, Link
Summary: China’s over-65 population is projected to soar to 210 million in 2030 from 110 million, and by 2050 will account for a quarter of China’s total population. China’s elderly are hardly affluent, but the sheer number makes it a huge market. Many companies like Nestlé SA, are seizing the opportunity to target elderly consumers with their new products and services.
SmithStreet Insights: “There is an emerging, underdeveloped market among the elderly that we cannot just overlook. In the West, it is quite common to generalize them as one group. But in China, we need to consider that the current and future senior population will have varying characteristics as a result of their different socio-cultural and economic background.
To be successful, brands must know the specific needs, preferences and capabilities of the elderly consumer profile that they want to target so they can develop, market and distribute the right products and services. One size does not fit all, even for the Chinese grandparents.” – Jules Falzado, Engagement Manager
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