Chinese are back to work after the most important festival over the year, the Chinese New Year, also known as the Spring Festival. Thanks to the removal of non-covid policy, this holiday season finally sounded, tasted, and felt like the Spring Festival we have always remembered three years ago.
Consumption data showed substantial increase from last year. Restaurants, amusement parks, shopping malls, and resorts, crowded with people waiting to do some vengeance consumption.
In recent years, many consumers stock overseas New Year Goods through cross-border e-commerce import channels as one of the must-do activities to get ready for the new year’s eve. This year's Spring Festival is much busier than before. Shipment orders in Hangzhou Customs increased by 52.3% compared with the same period last year, and the sales of snacks, health products, small household appliances and other categories increased significantly.
From the channel side, the importance of online channel consumption continues to increase in 2022. Online health care, outdoor, mother and baby, hairdressing, pet, these 5 categories rose against the trend.
With the continuous expansion of China's consumer market, more and more overseas brands have entered the Chinese and opened the first store in the mainland. Some brands even appear in the form of global flagship stores and concept stores, such as the world's first flagship store of Suntory Group, Maison Margiela Caf é, and the world's first T-Heart concept store.
In 2022, about 71 foreign brands will open their first stores in the mainland，
30 have chosen to open their first stores in Shanghai. In terms of business types, fashion brands, outdoor brands and fragrance are the most popular, which also reflects the popular business trends in the past year.
Since the optimization and adjustment of the epidemic prevention and control policy, many Ningbo businessmen visited overseas clients for the first time in three years. They found that many overseas brands were no longer waiting for Chinese importers as "cold" as before the epidemic, but actively threw "olive branch" to seek cooperation.
To their surprise, some brands even made efforts to improve its products according to the needs of the Chinese market, which demonstrate that importance of the Chinese market to their future development. Some are major brands at the leading position in their national market.
Nowadays, overseas brands want to announce their entry into China, not just by opening an e-commerce store, but by considering combination marketing, while doing online promotion and arranging offline stores. It can be attributed to the result of "market education", and they will continue to add Chinese elements to overseas brands, and let more overseas best products come to Chinese consumers.
Looking ahead to 2023, that after the baptism of the epidemic, China's mass consumer market has become more and more mature, and consumers' decision-making has become increasingly rational. People want to spend money wisely, and increase the attention and investment in health. Therefore, the majority of consumer brands cannot hold the mentality making fast money with minimum effort, only by polishing products with sincerity can they be deeply rooted in the hearts of the people.
After the spring festival, businesses are back to normal, WKI expects this year to be extraordinary after three years of difficulties. Boarder opening up and policies encouraging, when consumer confidence is back, we need to faster the pace to catch the wave of recovery.
Time to leap forward!
Consumption data showed substantial increase from last year. Restaurants, amusement parks, shopping malls, and resorts, crowded with people waiting to do some vengeance consumption.
In recent years, many consumers stock overseas New Year Goods through cross-border e-commerce import channels as one of the must-do activities to get ready for the new year’s eve. This year's Spring Festival is much busier than before. Shipment orders in Hangzhou Customs increased by 52.3% compared with the same period last year, and the sales of snacks, health products, small household appliances and other categories increased significantly.
From the channel side, the importance of online channel consumption continues to increase in 2022. Online health care, outdoor, mother and baby, hairdressing, pet, these 5 categories rose against the trend.
With the continuous expansion of China's consumer market, more and more overseas brands have entered the Chinese and opened the first store in the mainland. Some brands even appear in the form of global flagship stores and concept stores, such as the world's first flagship store of Suntory Group, Maison Margiela Caf é, and the world's first T-Heart concept store.
In 2022, about 71 foreign brands will open their first stores in the mainland，
30 have chosen to open their first stores in Shanghai. In terms of business types, fashion brands, outdoor brands and fragrance are the most popular, which also reflects the popular business trends in the past year.
Since the optimization and adjustment of the epidemic prevention and control policy, many Ningbo businessmen visited overseas clients for the first time in three years. They found that many overseas brands were no longer waiting for Chinese importers as "cold" as before the epidemic, but actively threw "olive branch" to seek cooperation.
To their surprise, some brands even made efforts to improve its products according to the needs of the Chinese market, which demonstrate that importance of the Chinese market to their future development. Some are major brands at the leading position in their national market.
Nowadays, overseas brands want to announce their entry into China, not just by opening an e-commerce store, but by considering combination marketing, while doing online promotion and arranging offline stores. It can be attributed to the result of "market education", and they will continue to add Chinese elements to overseas brands, and let more overseas best products come to Chinese consumers.
Looking ahead to 2023, that after the baptism of the epidemic, China's mass consumer market has become more and more mature, and consumers' decision-making has become increasingly rational. People want to spend money wisely, and increase the attention and investment in health. Therefore, the majority of consumer brands cannot hold the mentality making fast money with minimum effort, only by polishing products with sincerity can they be deeply rooted in the hearts of the people.
After the spring festival, businesses are back to normal, WKI expects this year to be extraordinary after three years of difficulties. Boarder opening up and policies encouraging, when consumer confidence is back, we need to faster the pace to catch the wave of recovery.
Time to leap forward!
