Bain & Company
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China’s luxury market declines 20% in 2024
China’s luxury market declines 20% in 2024
The rise of Daigou trading remains a concern for luxury brands.
Asia-Pacific's retail sector continues its post-pandemic recovery
The rise of e-commerce helped Asia-Pacific retail rebound.
How can consumer goods companies adapt to the third wave of digitisation?
Only one of two leading firms achieves 80% of their digital transformation project targets.
China's luxury market set for mid-single-digit growth in 2024
It witnessed a 12% YoY growth in 2023.
GenAI’s impact on retail unfolding faster than expected
Retailers now leverage GenAI for a competitive edge in communications, marketing, and operations.
Chinese consumers buy luxury items abroad due to pricing gaps
Domestic luxury spending is seen to decline to 70% from 90% during the pandemic.
China’s luxury market up 12% YoY in 2023
However, it has not yet fully recovered to 2021 levels.
FMCG spending up 6.1% YoY in 2023
This is mainly driven by inflation.
E-commerce leads China’s FMCG market with 4% YoY in Q3
Smaller formats such as super/mini and grocery stores are also gaining traction.
China’s FMCG sector sees ‘soft recovery’: report
The sector saw a 1% growth in the first nine months of 2023.
Around 3 in 4 shoppers planning to cautiously spend on Singles Day
Consumers are becoming more value-conscious for their Singles Day spending.
Southeast Asia e-commerce revenue up 28% YoY to $28b in 2023
The sector was also supported by the rapid growth of new entrants.
How retailers can satisfy customers and ensure a high Net Promoter Score
Bain’s Net Promoter Score measures the likelihood a consumer will recommend a business and company growth.
Who are the leading consumer segment in Southeast Asia?
Bain & Company said businesses should review their ambitions in the region.
Experientality, travel retail regain traction
Watches and jewellery were the top-performing luxury categories globally.
China’s FMCG sustains rebound in Q1: report
Bain & Company reported a value growth of 1.9% in the first quarter of the year.
Luxury sales in China to rebound to 2021 levels this year
This comes after the luxury market contracted in 2022.
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Industry leaders also cited the importance of adopting omnichannel strategies.
Commentary
Unwrapping the psychology behind festive snacking in Southeast Asia