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Top related persons:
Ashley Dudarenok - 3 Pinduoduo - 2 Douyin - 2 Louis Vuitton - 1 they're - 1 LVMH - 1 Bernard Arnault - 1 that's - 1
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China Shanghai Beijing Hong Kong Greater China Macao Bain SHANGHAI
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Getty - 2 Future Publishing - 1 BEIJING - 1 Bain & Company - 1 CNBC - 1 Consumers - 1 PDD Holdings - 1 Kungfu - 1

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4 mentions found


☆ China's luxury market is bouncing back with new areas of opportunity
  + stars: | 2024-01-29 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +3 min
The company's results showed that despite some resumption of overseas travel, more of China's consumers are buying luxury products at home. watch nowThe mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. "All of that data points to the importance of the Chinese luxury consumer and the China market," she told CNBC. Luxury brands have increasingly turned to online channels to ensure customer engagement, said Xing from Bain. As companies compete for a slice of the Chinese consumer market, one emerging segment is bedding and fine linen.
Persons: Louis Vuitton, they're, LVMH, Bernard Arnault, that's, Bain, Weiwei Xing, Cartier, Richemont, Burkhart Grund, Xing, Ding Shizhong, Ashley Dudarenok Organizations: Future Publishing, Getty, BEIJING, Bain & Company, CNBC, Consumers Locations: Shanghai, China, Hong Kong, Greater China, Macao, Bain
☆ Alibaba banks on aggressive Singles Day pricing to recoup sales mojo
  + stars: | 2023-10-31 | by ( Casey Hall Sophie Yu | Casey Hall | Sophie Yu | ) www.reuters.com   time to read: +5 min
Alibaba's Taobao and Tmall Group did not respond to a request for comment. This year's Singles Day event is also the first since Alibaba Group split into six business units. This view is supported by recent polls on social media where the majority of respondents said Singles Day was no longer necessary. Meara He, a 21-year-old student from Wenzhou, says she often shops using Douyin live-streams and this year, "doesn't care" about Singles Day as much. "In the past I would wait for Double 11 (Singles Day) and do some shopping, but this time I just plan to buy products that I need," she said.
Persons: Alibaba, Pinduoduo, Josh Gardner, Alibaba's, Ashley Dudarenok, AlixPartners, Douyin, Melody Zhao, Casey, Sophie Yu, Brenda Goh Organizations: PDD Holdings, Kungfu, Tmall, Administration, Market, ByteDance, Alibaba, Suisse, Industry, Hua Gui Food Group, Casey Hall, Thomson Locations: SHANGHAI, HK, China, Wenzhou, Shanghai, Beijing
☆ What one key business indicator is saying about China's consumer recovery
  + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.
Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China
☆ Tourism is roaring back in China. But the $6 trillion consumer market is digging itself out of a deep slump
  + stars: | 2023-01-30 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
He's hopeful business improves this year – and allows Rêver to recoup the roughly 35% in revenue it lost last year. Within a retail sales slump of 0.2% to 43.97 trillion yuan ($6.28 trillion), catering sales dropped by a steeper 6.3%. He expects 7% year-on-year growth in retail sales. Hainan's recovery plansHainan, a tropical province aiming to be a duty free shopping destination, announced a goal for 10% growth in retail sales this year. That's after its retail sales fell by 9.2% last year.
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