{"id":14738,"date":"2024-10-17T09:05:28","date_gmt":"2024-10-17T09:05:28","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=14738"},"modified":"2024-10-21T07:32:30","modified_gmt":"2024-10-21T07:32:30","slug":"china-consumer-24","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/china-consumer-24\/","title":{"rendered":"China Consumer 2024: The Secrets of Success in China\u2019s Dynamic Consumer Market"},"content":{"rendered":"\n

China Consumer 2024<\/a>, which took place on 14 October at London\u2019s 4 Hamilton Place, saw over 200 delegates in attendance as brands and entrepreneurs joined expert speakers to understand the latest news, trends and opportunities in China\u2019s growing consumer market<\/strong><\/h3>\n\n\n\n

CBBC\u2019s newly appointed Chief Executive Peter Burnett opened the event, stating that China will be the single largest growing consumer market by 2030 and will contribute 40% of the worldwide spend on luxury. Quoting McKinsey, he said that by 2025, the middle class in China will amount to 800 million people and there will be 200 million high-income earners.<\/p>\n\n\n\n

\u201cChinese consumers are happy to try new products, services and experiences,\u201d he said. \u201cChina is not only the most attractive market but also a lab for brands looking to innovate their consumer spending.\u201d<\/p>\n\n\n\n

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Peter Burnett OBE BBS, Chief Executive, China-Britain Business Council, gave the opening remarks at China Consumer 2024<\/figcaption><\/figure>\n\n\n\n

Burnett emphasised that in a global environment of cautious spending, the Chinese government\u2019s recent injection of cash liquidity into the market might well lift consumer confidence. And with consumption in China accounting for just 54% of GDP, it still has room for growth before it reaches the global average of 75%.  He quoted a McKinsey report that said that consumer confidence in China is higher than in the UK, Germany, and Japan and that the Chinese consumer mindset is shifting from simple consumption to experiences and services.<\/p>\n\n\n\n

\u201cAs China is our third largest trading partner and sixth largest export market, exports are a key part of the UK government\u2019s growth strategy,\u201d he said.<\/p>\n\n\n\n

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Erwan Rambourg, Global Head of Consumer & Retail Research, HSBC, gave a keynote speech on the state of the demand for luxury goods in China<\/figcaption><\/figure>\n\n\n\n

Keynote Speech: Is the Demand for Luxury Over in China?<\/strong><\/h4>\n\n\n\n

The first keynote speech of China Consumer 2024 was given by Erwan Rambourg, Global Head of Consumer and Retail Research at HSBC<\/strong>, who posed the question: Is demand for luxury in China over? With extensive experience working at luxury brands LVMH and Cartier, Rambourg explained that consumers don\u2019t buy luxury because they can afford it, they buy it because they are confident about the future.<\/p>\n\n\n\n

Whilst the recent government stimulus was \u201cbetter late than never,\u201d Rambourg said it was more aimed at the lower-income market rather than the luxury market. However, he noted that \u2018common prosperity\u2019 will lift everyone in terms of income and wealth. Rambourg quoted Bloomberg in suggesting that the Chinese government might launch a second anti-corruption drive and that there might be caps on wealth generation in the financial sector, which might affect markets. However, Rambourg said that decision-makers in China are suggesting that change will happen gradually as industries such as the EV and aerospace markets take years rather than months to develop successfully.<\/p>\n\n\n\n

China, Rambourg argued, is not the next Japan, which saw a flatline of luxury spending, because only a fraction of Chinese consumers have access to luxury. The aim of luxury selling is not to increase the penetration rate of a small market but to allow the market to grow and take a slice of a market that doubles in size every four years.<\/p>\n\n\n\n

Chinese consumers are waiting it out \u2013 they have cash but will only spend it when they are more confident. Rambourg also said that there has been a problem with \u2018greedflation\u2019, where brands hiked prices too high post-COVID when the demand was greater than supply. The spring\/summer 2025 season will be when many luxury brands launch new products at more manageable prices, allowing the stepping stone pricing to come back into play.<\/p>\n\n\n\n

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Zarina Kanji, Managing Director for UK & Europe, WPIC Marketing + Technologies, gave a keynote speech on China\u2019s consumer tribes<\/figcaption><\/figure>\n\n\n\n

Keynote Speech: <\/strong>Four Key Consumer Tribes in China<\/strong><\/h4>\n\n\n\n

In the day\u2019s second keynote speech, Zarina Kanji, Managing Director for UK and Europe at WPIC Marketing and Technologies<\/strong>, delved into the concept of \u2018consumer tribes<\/a>,\u2019 highlighting how social commerce on platforms like Douyin (China\u2019s version of TikTok) is reshaping China\u2019s retail landscape.<\/p>\n\n\n\n

Kanji identified four key consumer tribes shaping this dynamic market.<\/p>\n\n\n\n

1. The Aesthetics Tribe<\/strong> consists of health and beauty consumers, a sector valued at \u00a3232 billion. Post-COVID, sales of makeup have surged 64% year-on-year on Douyin. Brands like Suva Beauty are thriving with vibrant colour cosmetics, while fine jewellery and sun care have risen by 252% and 61%, respectively. Increasingly, AI influencers are instrumental in reaching young consumers through 24\/7 livestreaming.<\/p>\n\n\n\n

2. Homemakers<\/strong> prioritise family and home, with a sector now worth \u00a39.1 billion. These consumers favour sustainability and quality, with the home hygiene and appliance markets growing by 12% year-on-year to \u00a353 billion. Brands like Vitamix are capitalising on this trend by targeting busy mothers, while micro-influencers are becoming trusted voices over traditional key opinion leaders (KOLs).<\/p>\n\n\n\n

3. Pet Parents<\/strong> are a burgeoning tribe, as the Chinese pet market has grown 22% year-on-year, reaching \u00a375 billion. With over 220 million pets in more than 100 million households, there remains significant room for growth in pet care products. Tmall dominates this market with a 70% share.<\/p>\n\n\n\n

4. Vitality Seekers<\/strong> focus on health and wellness, a sector projected to reach \u00a339 billion, driven by urban residents engaged in sports and outdoor activities. Social media platforms like Xiaohongshu amplify shared experiences, resulting in an 89% increase in related sales on Douyin. Brands such as Lululemon are seeing success, with the wellness sector expected to double to \u00a369 billion by 2030.<\/p>\n\n\n\n

As these consumer tribes evolve, understanding their unique characteristics and preferences will be crucial for brands looking to thrive in China\u2019s dynamic market.<\/p>\n\n\n\n

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The first panel discussion of the day focused on China\u2019s consumer subcultures and tribes<\/figcaption><\/figure>\n\n\n\n

Panel Session 1: Chinese Consumers: Navigating Subcultures and Tribes<\/strong><\/h4>\n\n\n\n

Continuing on the theme of Kanji\u2019s keynote speech, during a vibrant panel discussion on China\u2019s consumer subcultures and tribes \u2013 hosted by Antoaneta Becker, CBBC’s Director of Consumer Economy<\/strong> \u2013 industry leaders from various sectors shared insights on navigating consumer subcultures and enhancing brand presence in China. Representatives from brands including Jaguar Land Rover (JLR), Wedgewood, and Grass & Co. explored how British companies can tap into China\u2019s vast, rapidly evolving landscape while adapting to local demands and trends.<\/p>\n\n\n\n

Zarina Kanji, formerly with Tmall and now at WPIC, highlighted the prominence of health and beauty products in China, underscoring the country\u2019s rapid development as a fertile ground for experimentation. She noted, \u201cEverything you learn in China you can bring back globally because China is the biggest, fastest, most advanced market, and can set your global business.\u201d This adaptability was echoed by Ben Grass, founder of Grass & Co.<\/strong>, who identified China as the ideal testing ground for his supplement brand, which operates within a \u00a350 billion market. Grass targeted specific demographics, such as students for brain function products and women for sleep aids, successfully navigating the complexities of the Chinese market by leveraging KOLs and clinical trial results.<\/p>\n\n\n\n

Freda Wang, EVP of Communication and Customer Experience, JLR China<\/strong>, shared how China has become the brand\u2019s top market, surpassing the US. However, she noted that while growth was notable between 2012 and 2019, challenges have emerged in recent years. Wang discussed JLR\u2019s strategy to reshape its traditionally masculine image in China by crafting culturally immersive experiences. Initiatives like the Range Rover House in Chengdu blend everyday shopping with traditional tea culture and bamboo sculptures, resonating with local consumers. Highlighting the importance of heritage, she noted Defender enthusiasts travelling from China to the UK for a special anniversary event, showcasing the brand\u2019s legacy.<\/p>\n\n\n\n

Sjoerd Leeflang, Vice President, Wedgwood, Fiskars Group<\/strong>, emphasised the necessity of speed in China\u2019s business environment, revealing that the brand has opened 29 stores in the country, each taking half the time to establish compared to other regions. However, the pressure to frequently release new products poses significant challenges for a heritage brand like Wedgewood, known for its meticulous production process. Wedgewood, too, leaned into its British heritage through live-streaming campaigns that emphasise the craftsmanship behind its Made in England products.<\/p>\n\n\n\n

In summary, these industry experts emphasised that success in navigating China\u2019s consumer landscape hinges on a delicate balance of speed, scale, and cultural sensitivity.<\/p>\n\n\n\n

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Peter Burnett hosted a fireside chat with John Lewis\u2019s Barry Delehanty<\/figcaption><\/figure>\n\n\n\n

Fireside Chat with Barry Delehanty, Director of Commercial Sales & Convenience, The John Lewis Partnership<\/strong><\/h4>\n\n\n\n

In a fireside chat hosted by Peter Burnett, Delehanty discussed the approach Waitrose has taken when expanding into the Chinese market. Drawing from successful operations in Hong Kong, where consumers showed a strong demand for imported goods, Waitrose gained confidence in entering mainland China despite facing regulatory challenges.<\/p>\n\n\n\n

To navigate these barriers, the company leveraged cross-border e-commerce, allowing it to bypass stringent food import regulations and efficiently introduce its products. Initially focusing on items that had performed well in Hong Kong and Singapore, Waitrose expanded its offerings to include health and beauty products, with honey emerging as a standout due to its perceived health benefits. However, scaling this segment was hindered by regulatory requirements like bottling certificates.<\/p>\n\n\n\n

Distribution challenges also arose, prompting Waitrose to temporarily scale back its efforts. Nevertheless, the company is poised to re-enter the market, with popular products such as shortbread, tea, and whisky appealing to Chinese consumers\u2019 interest in British goods.<\/p>\n\n\n\n

Looking ahead, Delehanty emphasised the importance of offering complete cultural experiences, like partnering with brands to promote afternoon tea, while adapting to the fast-paced retail landscape. He concluded that maintaining British heritage is essential to Waitrose\u2019s brand identity in China.<\/p>\n\n\n\n

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The second panel of the day explored how to leverage emotional marketing in the Chinese market<\/figcaption><\/figure>\n\n\n\n

Panel Session 2: The Era of Emotional Marketing<\/strong><\/h4>\n\n\n\n

As local Chinese brands become increasingly competitive, foreign companies are learning to adapt by appealing to consumer emotions, building communities, and leveraging new platforms. A panel of industry experts discussed the opportunities and challenges they face, as well as the importance of connecting with consumers on a deeper, emotional level.<\/p>\n\n\n\n

In this engaging panel discussion, host Ran Guo, Director of Consumer Economy \u2013 China, at the CBBC<\/strong>, noted that foreign brands face more competition as Chinese companies increase their share in the market. Yet, some foreign companies still see immense growth potential. Christoffer Sellin, Chief Commercial Officer at Brompton Bicycle<\/strong>, emphasised that their footprint in China is relatively small, giving them room to grow, with double or even triple-digit increases. Although Brompton bikes are handcrafted in London, they sell more than just a bike \u2013 they sell a lifestyle, explains Sellin. Through community-building efforts like the Brompton World Championship and customer-led clubs, Brompton has created a passionate following. The product isn\u2019t just a bike; it\u2019s a symbol of culture and community.<\/p>\n\n\n\n

Similarly, Nick Parker, International Development Director at Holland & Barrett<\/strong> International<\/strong>, discussed Holland & Barrett\u2019s success through cross-border e-commerce. By testing and learning, they are finding new consumer groups, and the flexibility of cross-border trading allows them to adapt products for China without fully entering the direct market. Parker also highlighted the role of authenticity in building consumer trust, mentioning live-streaming from both internal staff and external consumers to engage Chinese consumers.<\/p>\n\n\n\n

The conversation also touched on the power of influencers in China. Amy Zhong and James Smith, a UK-China influencer couple<\/strong>, shared how they use their platform to connect with followers not just as marketers, but as relatable consumers. People, they said, are looking for authenticity and a human connection, which is essential for building trust in an era where brands need to prove their worth.<\/p>\n\n\n\n

Simona Liu, Creative Director of Melt Season<\/strong>, a Chinese perfume brand, discussed the vast opportunity in China\u2019s perfume market, where penetration is only 5%. By targeting Gen Z consumers with high-end yet affordable perfumes, the brand aims to establish itself in a market traditionally dominated by Western companies.<\/p>\n\n\n\n

Throughout the discussion, a key theme emerged: brands must stay true to their heritage while remaining locally relevant. Whether through live events, influencer collaborations, or cross-border e-commerce, success in China relies on building trust, emotional connections, and offering products that resonate deeply with the consumer.<\/p>\n\n\n\n

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The day\u2019s third panel session looked at the intersection of physical and digital marketing and retail<\/figcaption><\/figure>\n\n\n\n

Panel Session 3: The Future is Phygital<\/strong><\/h4>\n\n\n\n

As China\u2019s consumer market evolves, brands are finding new ways to blend the physical and digital worlds, creating a \u201cphygital\u201d shopping experience. For the third panel of the day, Jing Zhang, Global Editor in Chief of Jing Daily and Jing Meta Channels<\/strong> hosted a selection of industry experts discussed this trend, focusing on how brands are using technology to deepen consumer engagement and enhance both online and offline shopping.<\/p>\n\n\n\n

Kristina Hui, Head of Business Development, Alibaba<\/strong> highlighted China\u2019s tech-savvy consumers, who are far more engaged with live streamers and digital avatars than their Western counterparts. In China, it\u2019s common for people to make purchases during live streams, while in markets like the UK, shoppers prefer interacting with physical products before buying. \u201cIn China, VR and AR are becoming mainstream tools for shopping,\u201d Hui explained. Alibaba is leading the charge by providing immersive and realistic shopping experiences that combine both digital and physical elements. Digital avatars, for example, serve as personal shoppers, helping users try on different products and providing personalised recommendations.<\/p>\n\n\n\n

Scarlett Zhao of Pop Mart<\/strong>, a Chinese collectibles brand, spoke about the rise of IP-based products and how the brand has developed a unique, engaging environment for their customer base, which consists mainly of 18 to 29-year-olds. \u201cOur presence on social media, like TikTok and Instagram, allows us to engage with customers through user-generated content (UGC),\u201d Zhao said. Pop Mart also leverages the popularity of blind boxes, mystery items that users can unbox in a digital or physical format. The brand\u2019s strategy creates a strong social media community, where users can share, swap, and even resell their collectibles. To ensure authenticity, Pop Mart integrates NFC chips, allowing buyers to scan and verify the provenance of their products.<\/p>\n\n\n\n

Laurent Taisne<\/a>, founder of luxury tech brand Totemist<\/strong>, introduced a unique concept that merges emotional memories with physical objects. Their lipstick products are embedded with NFC chips, which can store personal data like photos, text or audio. \u201cWe aim to give consumers a way to preserve and access personal memories through beautiful, physical objects,\u201d he explained. This \u201cphygital\u201d approach allows users to tap the product on their phones, instantly accessing private memories linked to their cherished items.<\/p>\n\n\n\n

As digital avatars, AR and NFC technologies become essential to the shopping experience in China, brands are finding creative ways to build communities, enhance personalization, and bridge the gap between the physical and digital worlds. This shift is not about replacing traditional retail but about creating a richer, more immersive experience for consumers.<\/p>\n\n\n\n

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Joy Isaacs, Founder and CEO, ARgENTUM apothecary<\/figcaption><\/figure>\n\n\n\n

Brand Spotlight: ARgENTUM<\/strong><\/h4>\n\n\n\n

Ahead of the event\u2019s afternoon panel sessions, Joy Issacs<\/a>, founder of British beauty brand ARgENTUM<\/strong>, told the story of her brand\u2019s growth in China and used the case study of how they evolved their marketing strategy and ad campaigns, utilising Chinese celebrities to target the Chinese audience. <\/p>\n\n\n\n

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Panelists discuss the rise and rise of Douyin in China<\/figcaption><\/figure>\n\n\n\n

The Douyin Playbook: Unlocking China\u2019s Social Commerce Potential<\/strong><\/h4>\n\n\n\n

In today\u2019s competitive Chinese market, brands are embracing platforms like Douyin to tap into the booming world of social commerce. At one of the event\u2019s breakout sessions, Demi Shi, Head of Brand Partnerships, Douyin E-commerce Global<\/strong>, and Peter McMath, Chief Revenue Officer, WPIC<\/strong>, shared insights into how brands can grow in China using Douyin\u2019s unique ecosystem.<\/p>\n\n\n\n

Shi explained the benefits of using Douyin\u2019s cross-border e-commerce platform. Unlike traditional routes, brands can sell products without fully registering in China, bypassing complex regulations like China Food & Drug Administration (CFDA) registration. The key? Tapping into Douyin\u2019s vast audience of 600 million users who spend around two hours a day consuming content. Douyin\u2019s algorithm accurately matches users with products through influencer-driven content and livestreaming.<\/p>\n\n\n\n

McMath highlighted the shift in consumer behaviour. For years, platforms like Alibaba dominated the e-commerce space thanks to risk-free shopping. However, Douyin has introduced a more interactive way to engage customers through content-driven shopping. This approach allows brands to tell their stories in 30-second videos, building emotional connections with consumers.<\/p>\n\n\n\n

To succeed on Douyin, Shi suggested brands follow a three-step approach:<\/p>\n\n\n\n

    \n
  1. Offer quality products that solve problems for Chinese consumers.<\/li>\n\n\n\n
  2. Tell a compelling story through digital content.<\/li>\n\n\n\n
  3. Be ready for rapid demand, as viral content can sell out products within hours.<\/li>\n<\/ol>\n\n\n\n

    Both panellists agreed that having a solid business plan is essential. Brands need to stay agile, adapt quickly to trends, and ensure they have sufficient stock for potential viral hits. Partnering with experts on the ground in China, like WPIC, can help brands navigate this fast-paced market.<\/p>\n\n\n\n

    Looking ahead, the future of livestreaming on Douyin looks promising, with AI-driven innovation already transforming the landscape. While AI streamers run 24\/7, brands must remain vigilant for the next breakthrough in social commerce.<\/p>\n\n\n\n

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    Panelists discuss Hong Kong\u2019s unique retail ecosystem and its role as a shopping destination<\/figcaption><\/figure>\n\n\n\n

    Hong Kong: The Future of Cultural Tourism and Experiential Retail<\/strong><\/h4>\n\n\n\n

    Hong Kong is emerging as a dynamic hub for cultural tourism and experiential retail, according to industry experts at a recent panel hosted by Daisy Ip from Invest HK<\/strong>. The discussion focused on the evolving retail landscape, highlighting how innovation and sustainability are shaping consumer experiences.<\/p>\n\n\n\n

    James Dwyer, Creative Director of Lumsden<\/strong>, which creates iconic spaces for international brands, museums, and attractions, emphasised the need to bridge the gap between culture and commerce, with new pavilions offering spaces for families to engage with art. His key message: storytelling is crucial for meaningful brand connections, especially in fast-paced markets like Hong Kong and China.<\/p>\n\n\n\n

    Daniel Poppleton, International Director, Whittard of Chelsea<\/strong>, with 15 years in Hong Kong, noted that while heritage remains central to their brand, adaptation is key. They are exploring new taste profiles, local sourcing from Taiwan, and the role of Britishness in their identity. The competitive market demands both speed and quality.<\/p>\n\n\n\n

    Robert Lockyer, Founder & COO, Delta Global<\/strong> praised Hong Kong\u2019s innovative retail spaces like K11, but stressed that sustainability is no longer optional. Authenticity and constant innovation are essential, particularly in a market where consumers increasingly prioritise transparency and eco-conscious practices.<\/p>\n\n\n\n

    With Hong Kong serving as a gateway to mainland China, all speakers agreed on the importance of localisation, digital integration, and staying attuned to local consumer preferences for long-term success.<\/p>\n\n\n\n

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    An afternoon panel session explored how companies can find success in China\u2019s \u2018new normal\u2019<\/figcaption><\/figure>\n\n\n\n

    Creating a China Strategy in the \u2018New Normal\u2019 Business Environment<\/strong><\/h4>\n\n\n\n

    In today\u2019s business landscape, navigating China\u2019s vast market requires careful planning and a deep understanding of its unique dynamics. Claire Urry, CBBC’s Chief Commercial Officer, hosted industry experts who offered insights into creating a successful strategy in this \u201cnew normal\u201d.<\/p>\n\n\n\n

    Kristina Koehler Coluccia, Head of Business Advisory at Woodburn Accountants and Advisors<\/strong>, pointed out that many of the challenges businesses face in China have been consistent for over two decades. Issues around intellectual property, trademark registration and contract enforcement remain crucial. For companies entering the market, Kristina stressed that compliance with Chinese regulations, especially for food and beverage (F&B) sectors, is non-negotiable. She also highlighted the importance of partnering with Chinese law firms and ensuring contracts are enforceable under local law.<\/p>\n\n\n\n

    CBBC\u2019s Ran Guo advised brands to view China as a continent rather than a country, emphasising the importance of finding an exclusive distributor. Multiple distributors can lead to price wars, she warned. The key to success is establishing long-term partnerships with importers who understand the market and are invested in a brand\u2019s growth.<\/p>\n\n\n\n

    Lee Fisher, Head of International at Hayman Distillers<\/strong>, echoed this sentiment, sharing his own experience of working with a trusted importer for over 13 years. Fisher emphasised the importance of tailoring business models to fit the Chinese market. For example, while gin is consumed by a slightly older demographic in the UK, in China, it appeals to younger consumers, mostly women. He urged brands to understand their unique positioning in China and to build genuine connections with their local partners.<\/p>\n\n\n\n

    For Nick Stratton, Sales Director at Nurture Brands<\/strong>, China\u2019s booming e-commerce sector is key. His brand, which sells coconut water, experienced rapid growth through online platforms like Xiaohongshu and partnerships with major retailers like Starbucks. He emphasised that while the retail landscape is competitive, building a strong brand image and working with trusted partners can help brands stand out in China\u2019s crowded market.<\/p>\n\n\n\n

    The panel agreed on one thing: success in China requires patience and adaptability. Whether it\u2019s finding the right distributor, building relationships, or navigating regulations, businesses must be prepared for the long haul and remain flexible in this rapidly evolving market.<\/p>\n\n\n\n

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    An afternoon panel session explored the sustainability concerns of Chinese consumers<\/figcaption><\/figure>\n\n\n\n

    Sustainability in China: The Evolving Perspectives of Companies and Consumers<\/strong><\/h4>\n\n\n\n

    The dialogue around sustainability is shifting dramatically in China, as highlighted by a panel hosted by Celine Tang, CBBC’s Retail & E-commerce Sector Lead, and featuring Jon Graham, CEO, Miller Harris Fragrance<\/strong>, Robert Lockyer, Founder & CCO, Delta Global<\/strong>, and Deb Caldow, Global Marketing Director, Diageo<\/strong>. Their insights reveal a growing alignment between consumer expectations and corporate responsibilities.<\/p>\n\n\n\n

    Graham described how Miller Harris, launched in China during the COVID-19 era, emphasises a commitment to sustainability, aiming for zero environmental impact. The brand audits its practices through external evaluations, positioning itself as a pioneer in eco-conscious luxury. Jon Graham notes that adapting to the fast-paced market is challenging, particularly for smaller businesses.<\/p>\n\n\n\n

    Lockyer challenged the outdated notion that luxury and sustainability are incompatible. He asserted that consumers increasingly desire brands that communicate their sustainability efforts effectively, fostering an emotional connection while using fewer resources. Notably, 96% of luxury consumers in China repurpose packaging, highlighting a cultural shift toward sustainability.<\/p>\n\n\n\n

    Caldow echoed this sentiment, stating that sustainability is becoming a key differentiator in purchasing decisions. However, price remains a significant barrier, particularly in varying product categories. Diageo\u2019s \u201ctriple win\u201d philosophy seeks to benefit people, the environment, and the business.<\/p>\n\n\n\n

    The Chinese government plays an active role in promoting sustainable practices, pushing companies toward more ambitious goals. As brands like Diageo mobilise their teams and innovate for the future, there is a clear recognition that sustainable practices are essential \u2013 not just for compliance but for building lasting relationships with consumers who prioritise eco-friendly products.<\/p>\n\n\n\n

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    Fosun\u2019s Elvis Liu spoke about the company\u2019s global ambitions<\/figcaption><\/figure>\n\n\n\n

    Fireside China: Fosun\u2019s Global Ambitions and the Future of Chinese Consumer Trends<\/strong><\/h4>\n\n\n\n

    During the final fireside chat of the day, Elvis Liu, Global Partner at Fosun<\/strong>, shared insights into the company\u2019s growth and future plans. Fosun, with assets worth RMB 800 billion globally and half of its workforce outside China, has made significant strides in international markets, including owning brands like Club Med and Atlantis.<\/p>\n\n\n\n

    Liu explained the role of Fosun Hive, the company\u2019s real estate arm, which collaborates with governments to develop tailor-made sector solutions. He highlighted a cautious but recovering Chinese consumer market, with growing spending in tourism and travel. Club Med and Atlantis resorts are seeing pre-COVID highs, and Yu Garden in Shanghai experienced a 60% revenue jump in 2023, with visitor numbers tripling to 40 million.<\/p>\n\n\n\n

    Looking ahead, Fosun aims to bring Chinese brands abroad, with plans to open Songhelou, a Suzhou noodle store, in London\u2019s Chinatown by year\u2019s end. Additionally, Fosun is introducing Shehe Baijiu from Sichuan and partnering with Wolverhampton Football Club \u2013 the Premier league team they own. Liu emphasised the importance of understanding markets, leveraging digital platforms, and finding reliable partners to ensure sustainable growth, both within China and internationally.<\/p>\n\n\n\n

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    Gareth Thomas MP and Bao Ling of the Chinese Embassy addressed the attendees at the Autumn Reception<\/figcaption><\/figure>\n\n\n\n

    Autumn Reception<\/h4>\n\n\n\n

    China Consumer 2024 concluded with CBBC\u2019s Autumn Reception<\/strong>, which offered a fantastic platform for high-level networking with the UK-China business community and an opportunity to celebrate the achievements of CBBC and its members. Drinks were provided by Hayman Gin and MP Gareth Thomas, Minister for Services, Small Businesses and Exports; and Bao Ling, Head of the Economic and Commercial Office at the Chinese Embassy in the UK \u2013 both gave speeches praising the work CBBC does in providing support to business between the two countries.<\/p>\n\n\n\n

    \"\"
    Guests visit Hayman\u2019s Gin Distillery in London<\/figcaption><\/figure>\n\n\n\n

    Hayman’s Distillery reception<\/strong><\/h4>\n\n\n\n

    The following day, UK consumer brands and marketers were treated to an interactive tour and tasting at Hayman\u2019s Distillery in south London. The distillery \u2013 which doubles as a stylish event space and boutique \u2013 continues the legacy begun 160 years ago by James Hayman, who pioneered the London Dry style of gin. Today, siblings James and Miranda Hayman run the family-led operation, and the company became a B Corp earlier this year in a demonstration of its commitment to transparency, community and the environment.<\/p>\n\n\n\n

    Guests from China and the UK discussed the drink\u2019s newfound popularity in China over some G&Ts before learning about the ten botanicals that go into every Hayman\u2019s gin. Using pestle and mortar, the group crushed everything from juniper berries and liquorice to orange peel and coriander seeds in an attempt to get the balance right for the perfect gin \u2013 and learned quickly that it\u2019s much harder than you might think. No wonder developing a new recipe can take dozens of attempts.<\/p>\n\n\n\n

    After a tour of the copper stills it was time to taste the product itself. The exact concoction that goes into Hayman\u2019s original dry gin remains a secret recipe known only by members of the family, but more modern takes were developed in recent years, such as the Exotic Citrus gin. Lively and bright, original methods were used in its production, and no fruit juice was used. Rather, the balance of the aforementioned botanicals is played around with to add a punch of citrussy flavour. It\u2019s clear that staying true to James Hayman\u2019s original vision is of paramount importance to the team here \u2013 something participants agree is a highly valued quality in China. Even the brand\u2019s sloe gin contains sloe berries from the Hayman family garden. Tradition, integrity and excellence truly can be tasted in every sip.<\/p>\n\n\n\n

    ARgENTUM Apothecary<\/strong> Reception <\/strong><\/h4>\n\n\n\n

    That evening, 30 guests including brands and influencers visited the ARgENTUM Apothecary, at their Holland Park boutique. They were treated to fragrance readings and insights from ARgENTUM on how they have evolved in the China market, including the launch of their archetype fragrances earlier this Autumn.<\/p>\n\n\n\n

    \"pics\"\/<\/figure>\n\n\n\n

    The event was opened by remarks from Antoaneta Becker, CBBC’s Director of Consumer Economy, who said: “without our members and friends in the sector we would not able to stage an event were we can talk about the fantastic opportunities in the China Market but also address complexities and challenges, CBBC stands by to support brands navigate this market and support you on this exciting journey”.<\/p>\n\n\n\n

    She then introduced our host, Joy Isaacs, CEO and Founder of ARgENTUM, who welcomed the guests and said that with the business being in its 12th year, China has become an increasingly important market for not only their business but for the beauty sector as a whole. The brand has leaned into the wellness space alongside this, by utilising natural ingredients for their products. She invited guests to explore the scents and products on offer, in particular the tarot-inspired fragrance readings, linked to the 12 archetypes. Cocktails and mocktails were supplied by King’s Hill Gin<\/a>, Ty Nant<\/a> and Hayman’s of London<\/a><\/p>\n\n\n\n

    <\/span>\"pic4
    \n

    <\/p>\n<\/div><\/div>\n\n\n\n

    ARgENTUM is a luxury skincare and fragrance brand that blends natural origins with cutting-edge science. They are known for pioneering silver in their award-winning skincare collection, harnessing the power of a Silver Hydrosol & DNA HP patent to deliver anti-ageing benefits and a radiant, smooth complexion. In addition to their innovative skincare line, ARgENTUM offers a collection of natural, alcohol-free fragrances called les perfumes infinis<\/a>. ARgENTUM\u2019s archetype fragrances are at least 93% from natural origins and halal certified. The brand has received widespread acclaim from the press for its exceptional skincare products and their ability to transform the texture and appearance of the skin. To discover beauty in balance, visit www.argentum.com<\/a>.<\/p>\n\n\n\n

    \"\"<\/a><\/figure>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

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