Fung Business Intelligence

China’s #manufacturing PMI rises to 50.1 in October, indicating recovery in the manufacturing sector. https://lnkd.in/guxTAf2w

PMI points to easing downward pressure on the manufacturing sector in 3Q24. We project a steady growth in #manufacturing production. https://lnkd.in/gWGuAMJg

China #Retail & #Ecommerce Weekly Update (11 – 17 October 2024): · Tmall expects to hit a record number of purchasing users during this year’s 11.11 · Bilibili to invest three billion yuan in traffic to support high-quality UGC during 11.11  · Douyin E-commerce’s cosmetics sales increase by 73% yoy in first three days of 11.11 promotion · Tmall establishes 20 new companies involving home furnishings, e-commerce and other industries since 30 September · Number of Meituan flash-express warehouses to exceed 100,000 by 2027 · ALDI opens largest store in China to date  · JD.com’s 7Fresh sets up its first front-end warehouse in Beijing, directly competing with Meituan’s Xiaoxiang  · Yonghui Superstores’ first remodelled store in Beijing resumes operations · Xiaohongshu launches Yiwu e-commerce operations centre · JD Logistics is now fully connected to Taobao and Tmall, increasing platform interconnectivity · Uniqlo parent company’s China revenue goes up by 9.2% yoy in fiscal 2024  · MINISO and Meituan deepen partnership to launch over 800 24-hour super stores within this year · China’s livestreaming e-commerce penetration rate reaches 37.8% in 2023 · September 2024 sees 2,101 new tea beverage store openings https://lnkd.in/drKcpgZ6

China #Retail & #Ecommerce Weekly Update (4 – 10 October 2024) · Tmall sees 239% mom increase in new brands ahead of 11.11  · Douyin establishes a new information technology company in Shanghai · JD.com to increase Hong Kong presence with initial investment of 1.5 billion yuan · Pinduoduo launches 10 billion-yuan subsidies for 11.11 with consumption vouchers and double  · Kuaishou Local Life’s National Day GMV up by over 227% yoy in emerging cities · Tmall establishes 10 new wholly owned companies · Shanghai Freshippo opens six stores on the eve of National Day · KFC’s new health-conscious restaurant KPRO opens its first location in Guangzhou · Molly Tea receives 100 million yuan in investment, led by Alibaba Local Life https://lnkd.in/guM3WpHh

China #Retail & #Ecommerce Weekly Update (27 September – 3 October 2024) · Douyin E-commerce plans to develop 20 10-billion-yuan industry belts by the end of the year · Pinduoduo to launch 11.11 event at midnight on 14 October · Pinduoduo launches a 10-billion-yuan support plan for new quality merchants · Kuaishou E-commerce hosts online ‘Hairdressing Festival’ and invests tens of millions in traffic incentives  · JD.com’s 7Fresh Supermarket begins trial operations in Shanghai  · SHEIN begins first phase of construction on supply chain headquarters in Guangzhou · H&M joins Pinduoduo https://lnkd.in/grTqN-Gt

China #Retail & #Ecommerce Weekly Update (20 – 26 September 2024) · Kuaishou 2024 Mid-Autumn data: Catering GMV up by 181% yoy · Kuaishou and JD.com launch 11.11 merchant conference · Pinduoduo establishes two new information technology companies · Taobao Apparel hosts 11.11 product selection fair  · JD.com’s low-cost channel Jingxi exceeds 100 million fans·  · Tmall Supermarket invests 500 million yuan to expand user scale and aims for 50% growth during 11.11 · JD Supermarket launches plan to support 100 new personal care brands, products and merchants · 50th Sam’s Club in China to open in Dongguan · JD.com partners with Heilan Group to open its first offline outlet store in Jiangyin · Suning.com to launch 11.11 promotion on 17 October · Yum China’s supply chain management centre becomes fully operational · Domino’s China’s 1H24 revenue up goes by 48.3% yoy https://lnkd.in/dmG9US24

China’s manufacturing PMI picks up to 49.8 in September, indicating easing downward pressure on the manufacturing sector  https://lnkd.in/gsNe9Uhd

Check out our recap video of the Fashion Tech Summit held on 15th August. Facilitated by Li & Fung with the support from MIT Hong Kong Innovation Node and HKUST Li & Fung Supply Chain Institute, the Fashion Tech Summit drew over 300 leading industry executives to delve into the theme of sustainability as a pivotal competitive advantage. The summit focused on merging fashion and technology with the purpose of igniting creativity and innovation in the fashion sector. More on https://lnkd.in/gkCnGWNR

China #Retail & #Ecommerce Weekly Update (30 August – 5 September 2024) · JD.com commits one billion yuan to develop JD Fashion as a premier fashion platform · Kuaishou E-commerce upgrades one-stop customer service platform · Xiaohongshu launches catering group buying in 49 cities · Tmall Supermarket invests 500 million yuan to expand user scale and aims for 50% growth during 11.11 · JD MALL upgrades store experience with Mid-Autumn promotions · Sam’s Club opens in Wuhou, Chengdu and brings China store count to 49 · Yonghui Superstores sets up a supply chain management company in Guangzhou · Lululemon sees 34% revenue growth in China for 2Q24 · Suning.com’s 1H24 profit reaches 15 million yuan after losses in previous 12 quarters · Gome Retail’s 1H24 revenue is 169 million yuan as net loss reaches 4.432 billion yuan · MINISO’s overseas sales make up over 30% of total revenue and become new growth driver · Tims China announces franchise progress: 3,600 applications received and 21 stores opened · Starbucks China launches three new products inspired by baristas https://lnkd.in/gW8dqhi6