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| Subject: |
CHINA BUSINESS
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| Period: |
February 1, 2017 to April 1, 2017
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| Geographies: |
Worldwide
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| Categories: |
Comment & Opinion or Companies, Organizations or Consumers or Controversies & Disputes or Deals, M&A, JVs, Licensing or Earnings Release or Finance, Economics, Tax or Innovation & New Ideas or Legal, Legislation, Regulation, Policy or Market News or Marketing & Advertising or Other or People & Personalities or Press Release or Products & Brands or Research, Studies, Advice or Supply Chain or Trends
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Contents
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China's middle class, composed of more than 100 million families, is driving growth in the country's beauty care market, according to Kantar Worldpanel. Data from the market research firm revealed middle-class consumers have more confidence about the future and, hence, are more likely to buy more and purchase big brands. They use the internet to find product information and are more ready to try new products and adopt new trends. Also, middle-class consumers accounted for more than half of the incremental sales in various categories of the beauty market.
"Middle class pivotal to China’s beauty market", Kantar Worldpanel, January 31, 2017
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By 2020, 25 percent of China’s population, or 325 million people, are expected to purchase products from abroad via online retailers, according to eMarketer. Data from the market research firm revealed more than 15 percent of the Chinese population bought $85.8 billion of foreign goods in 2016. With local consumers spending about $473 each on cross-border purchases in 2016, foreign products accounted for 4.2 percent of the total online retail market in the country.
"Survey says more e-shoppers to buy foreign stuff by 2020", China Daily, February 16, 2017
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China’s baby care market continues to grow strongly, often driven by parental attention on product safety and items with a premium-feel. Mintel says consumers are increasingly focused on specific safety claims and now seek out products that are hypoallergenic, dermatologically-tested and paraben-free. They are also more concerned about ethical/environmentally friendly claims. Mothers remain critical for marketers but there is growing recognition that fathers matter too. Mintel data shows that younger fathers are much more likely to be involved in childcare than older fathers. Some brands are play to this – Unilever’s Dove campaign, ‘See all the ways dads care’, is one example, as is Skinfood’s Goodfather range.
"Baby care in the spotlight: Mintel reveals latest China trends", Cosmetics Design , February 22, 2017
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Germany’s fast-growing discount grocery chain Aldi hopes to interest Chinese consumers in German food and beverage brands, especially wine, snacks and breakfast foods. With that goal in mind, the company will "soft launch" an online presence on Alibaba’s Tmall Global platform, followed by a full launch event in Shanghai on April 25. The Chinese venture is being managed by Aldi South, owner of Aldi U.S. and manager of the British chain. An Alibaba manager said the Chinese middle-class is increasingly interested in German products.
"German discounter Aldi to start online sales in China", Reuters, March 03, 2017
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China's online retail market will expand at a CAGR of 15 percent in 2016 to 2021, reaching RMB 1.3 trillion in total value by the end of the period, according to Mintel. Data revealed the country's overall e-commerce market grew from RMB 53 billion in 2011 to about RMB 626 billion in 2016, a CAGR of 64 percent. Also, 73 percent of online shoppers shop for imported products from local online stores, while only 27 percent shop from overseas retail websites. Mintel research also showed 31 percent of consumers purchase imported food from Taiwan, 36 percent buy wine from France, and 45 percent buy beauty and personal care products from South Korea.
"China’s online retail market is expected to reach RMB 1.3 trillion in 2021", Mintel, March 22, 2017
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Walmart saw its share of China's retail market grow from 4.8 percent to 5.0 percent in the 12-week period ending January 27, 2017, according to Kantar WorldPanel. Data from the market research firm revealed that the Chinese New Year boosted sales for Walmart and other retailers. Walmart has revised its business strategy in China, adapting to the country's retail market conditions by moving resources to rural areas and opening more Sam's Club stores.
"Walmart reaches new high in Chinese New Year", Kantar WorldPanel, March 27, 2017
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