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China #Retail & #Ecommerce Weekly Update (29 December 2023 – 4 January 2024) · Douyin local life services’ transaction volume increases by 256% yoy in 2023 · PDD’s Duoduo Maicai halts development of local services · Eleme invests 10 billion yuan to establish new company in Shenzhen        · Costco’s sales in Chinese mainland market expected to exceed 10 billion yuan in 2024   · Adidas plans expansion within third and fourth tier cities in China · Suning begins Chinese New Year shopping festival with 24-hour logistics services · Loewe and other luxury brands launch special collections for Chinese New Year  · Heytea surpasses 3,200 stores in 2023 as store scale increases by 280% yoy · Total value of social goods logistics nationwide exceeds 300 trillion yuan in first 11 months of 2023 · Hainan offshore duty-free sales increase by 25.4% yoy in 2023 · Shanghai’s online and offline consumption exceeds 40 billion yuan during New Year’s Day holiday · MOFCOM: Instant retail sales of some e-commerce platforms increase by over 20% during 2024 New Year’s Day holiday https://lnkd.in/ghDK9Rkw

China #Retail & #Ecommerce Weekly Update (23 – 29 February 2024): · JD.com launches ‘free door-to-door returns and exchanges’ service · Douyin life services: 730,000 users use group purchase gifting function during Chinese New Year period · JD.com applies to register multiple AI-related trademarks   · Vipshop’s 2023 net revenue goes up 9.4% yoy to 112.9 billion yuan · Baidu’s 2023 net profit increases by 23% as AI becomes new growth driver  · JD.com to open six more flagship stores in Shanghai in 2024  · Cainiao announces the launch of ‘cross-border apparel route’   · Asics’ China sales surge 24% yoy   · Benefit rumoured to exit Chinese mainland market  · Aesop to open first store in Guangzhou  · Harrods: China accounts for 4% of sales in 2023    · Suning.com plans to open 180 new stores in Zhejiang · Taobao pet product retail sales reach 25.14 billion yuan in 2023 https://lnkd.in/gU8pNw4W

China #Retail & #Ecommerce Weekly Update (12 – 18 April 2024): · New merchants on Tmall increase by 60% yoy in 1Q24 · Ele.me to launch partial management service for retail merchants on 1 May   · Chengdu Intime in99 introduces several new brands  · Yonghui Superstores to complete the transformation of 600 discount stores in 1H24 · Uniqlo faces growth pressure in the Chinese mainland · Peacebird’s net profit decreases by 26.92% in 1Q24 with 60 more store closures · IKEA to invest 6.3 billion yuan in China over the next three years while pursuing a low-cost strategy · ChaPanda raises US$330 million in its Hong Kong IPO · Decathlon enters coffee market with first location in Shanghai · NBS: Total retail sales of consumer goods up by 3.1% yoy in March · Douyin publishes Home Decoration Industry Trend Report 2024 · China Consumption Research Report 2024: Service-oriented consumption has huge growth potential · Cosmetics sales grow by 3.4% yoy in 1Q24 · Xiaohongshu and Kantar publish white paper on perfume and fragrance trends in 2024 https://lnkd.in/g52Jhhwh

[#CHINA 🇨🇳] [#RETAIL 📊]  Miniso was founded in 2013 by Chinese entrepreneur Ye Guofu. The brand was inspired by Japanese lifestyle and retail design, offering affordable products in categories like home goods, electronics, toys, beauty, and fashion. MINISO’s aesthetic, often minimalist and playful, quickly gained popularity, particularly among young consumers. 🌟 𝐓𝐡𝐢𝐬 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐬𝐭𝐚𝐭𝐞𝐬 𝐭𝐡𝐚𝐭 𝐌𝐈𝐍𝐈𝐒𝐎'𝐬 𝐨𝐯𝐞𝐫𝐬𝐞𝐚𝐬 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐬𝐮𝐫𝐠𝐞𝐝 𝐛𝐲 𝟒𝟐.𝟔% 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐡𝐚𝐥𝐟 𝐨𝐟 𝟐𝟎𝟐𝟒, 𝐝𝐫𝐢𝐯𝐞𝐧 𝐛𝐲 𝐠𝐥𝐨𝐛𝐚𝐥 𝐞𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐟𝐥𝐚𝐠𝐬𝐡𝐢𝐩 𝐬𝐭𝐨𝐫𝐞𝐬 𝐢𝐧 𝐤𝐞𝐲 𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐥𝐢𝐤𝐞 𝐭𝐡𝐞 𝐔.𝐒. 𝐚𝐧𝐝 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 🌟 This success contributed 35.2% of its total income. The brand plans to further grow in Europe, especially the UK, aiming for 1,000 new stores. Looking forward, MINISO’s strategic focus on large-scale stores, IP collaborations, and expansion in Europe should ensure steady growth, although competition in the global retail market could pose challenges 🤔

China #Retail & #Ecommerce Weekly Update (1 – 7 March 2024): · JD.com launches ‘New Small and Medium Merchant Growth Plan’ · Alibaba develops AI e-commerce tool ‘Huiwa’ · East Buy joins Pinduoduo · Over 100 new spring products from domestic brands debut on Tmall  · JD.com’s 2023 revenue up 3.7% yoy to 1.0847 billion yuan · Bilibili’s 4Q23 revenue increases by 3% yoy to 6.35 billion yuan   · JD Logistics’ revenue reaches 166.6 billion and turns profit in 2023  · Anta to open first sneaker collection store in Beijing  · Sandro and Maje to reduce stores in China · Uniqlo says it will continue to invest in China   · Yum China’s net profit surges 87% yoy in 2023 with 1,697 net new store openings · Tim China CEO announces three major objectives for 2024  · Douyin publishes 2024 industry fashion trends https://lnkd.in/gSFSvNqM

China #Retail & #Ecommerce Weekly Update (3 – 9 May 2024): · Tmall 6.18 event to begin on 20 May with no pre-sale period · JD.com launches ‘JD.com New Domestic Products’ brand · KeeTa becomes largest food delivery platform in Hong Kong · Kuaishou May Day Consumption Report: Average proportion of new customer orders exceeds 30% · JD Logistics improves express delivery times in Central China   · Adidas achieves four consecutive quarters of growth in Greater China region as of 1Q24 · Brooks Running plans to open its first store in Shanghai this year · Crocs continues rapid growth in the Chinese market in 1Q24 · Drunk Elephant makes retail debut at Sephora in Chinese mainland  · Suning.com: Instant retail orders increase by more than 150% during May Day holiday · Domino’s Pizza China plans to open over 800 new stores in the next three years  · Hainan duty-free shopping reaches 547 million yuan during May Day holiday https://lnkd.in/g5XiWncq

China #Retail & #Ecommerce Weekly Update (19 – 25 April 2024) · Weixin Channels launches local lifestyle services business · Kuaishou 2023 ESG Report: Kuaishou creates 40.22 million employment opportunities · Costco launches ‘Costco Home Delivery’ online shopping platform · JD.com’s 7Fresh supermarket chain launches city-wide delivery service in Beijing · Li Ning’s retail sell-through increase slightly in 1Q24 as its e-commerce business grows by over 20% yoy · MLB hopes to expand outdoor goods business in China through sub-brands · American denim brand True Religion enters the Chinese market · Peacebird reshapes brand image to promote its brand strategy · L’Oreal’s China sales increase by 6.2% yoy in 1Q24 · Tims China achieves 56% yoy revenue growth in 2023 · Pop Mart’s 1Q24 revenue increases by 40%-45% yoy · Suning Industrial Product launches new plan to build 1,000 unmanned front-end warehouses in the next three years · 82 first stores open in 1Q24 with Beijing surpassing Shanghai as first store destination · MOFCOM: Over 70 million people are employed in e-commerce jobs nationwide https://lnkd.in/gD38M5A2

China #Retail & #Ecommerce Weekly Update (19 January – 25 January 2024) ·  Tmall and partner brands incubate 750 new products with sales exceeding one million yuan in 2023 ·  East Buy’s net profit reaches 249 million yuan in six months to November 2023 ·  Douyin E-commerce’s luxury goods GMV increases by 254% year-on-year in 2023   ·  Freshippo launches Chinese New Year food delivery service  ·  Lululemon opens first standalone menswear store in China  ·  Miniso and Disney co-branded IP theme store opens in Wuhan ·  Cartier parent company’s China revenue increases by 25% yoy in the December quarter ·  Tod’s Group’s China sales increase by 24% yoy in 2023 ·  Heytea launches co-branded Chinese New Year collection with streetwear brand CLOT   ·  Suning.com plans to join 3,000 stores in Douyin and Meituan this quarter  ·  Xianyu opens its first offline second-hand marketplace  ·  Nielsen’s report sheds light on China’s consumers ·  Draft of national standards for ready meal industry has been finalized https://lnkd.in/gEW7zZpq

The decling retail sales in Hong Kong should not be blamed to the so called “status quo” that more locals are shopping in Shenzhen or less tourists coming from mainland China. There might be a slight increase in the number of locals shopping in Shenzhen, but the customer base who prefer to shop in Shenzhen, in fact, has not changed much. Why no one has ever mentioned the dramatic decline of the number of visitors from the rest part of the world? No matter what reason it might be, just stop using “the Trend of Hong Kongers Heading North” as a diversion from the real problem. If it is data we are talking about, let’s talk about it in a complete way.

Miniso Aims for Global Dominance with Major Expansion Plans Chinese lifestyle retailer Miniso has unveiled ambitious plans to significantly increase its global presence in 2024. According to the Financial Times, the company intends to open 600 new stores overseas Read full news: https://lnkd.in/dPe4JKgN #MinisoExpansion #GlobalDominance #RetailGrowth #InternationalMarkets #BusinessExpansion #MinisoStores #LifestyleRetailer #GlobalStrategy #RetailInnovation #EconomicTrends