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China’s consumption downgrade: what you need to know
This series examines the consumption downgrade in China, highlighting shifts in consumer confidence, market trends and changing consumption in a transforming economic environment.
Updated: 10 Sep, 2024
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[1]
As China’s consumption picture changes, think tank argues, so must its policies
China’s consumers are changing their spending priorities as the economic situation changes, a think tank has argued in a report, necessitating changes to the measures intended to spur consumption.
20 Aug, 2024
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[2]
Dumpling giant Din Tai Fung folds in northern China as budgets kept under wraps
Din Tai Fung, a Taiwan-based restaurant chain, has announced it will close several of its mainland China stores as customers appear to have lost their appetite for pricier meals.
04 Sep, 2024
[3]
KFC, McDonald’s, Haidilao push small-store format in fight for consumers
Fast-food kiosks are sprouting up in mainland cities, as fast-food restaurant chains like Yum China, McDonald’s and Haidilao compete for consumer dollars.
01 Sep, 2024
[4]
Price war nibbles as China’s embattled restaurants struggle to stay afloat
Restaurant owners and operators in China’s biggest cities are facing challenges to remain profitable, with some lowering prices to tempt consumers.
28 Aug, 2024
[5]
Uniqlo, Nike lose to value-for-money ‘white labels’ as China consumers downgrade
A shift in spending behaviour is causing a significant impact on sales at global apparel brands from Uniqlo to Nike on the mainland market. The trend will persist, given slow or no improvement in job and income outlook, according to Deutsche Bank.
04 Aug, 2024
[6]
Falling stars: China’s fine dining, even Michelin champs, hit by economic slump
The fine dining industry in China, once a roaring exemplar of the country’s economic might, is seeing leaner times as customers watch their expenses and put discretionary spending on hold.
18 Jul, 2024
[7]
No more keeping up with the Joneses: ‘poor man’s meal’ on the rise in China
An ongoing trend of consumer spending cutbacks in China has intensified amid an economic downturn, drawing comparison with Japan’s ‘lost decade’.
20 Jul, 2024
[8]
Turn-down downturn: luxury hotels report China revenue declines as demand dips
Wyndham, IHG, Hilton, Marriott, Hyatt and Accor have reported declines in revenue for their China operations as business travel and overall demand slow.
22 Aug, 2024
[9]
Starbucks loses its perk in China as drinkers flee for cheaper brews
‘Frankly, I don’t think Starbucks can gain a lot of traction in China’s small towns and villages,’ analyst says after the chain’s revenue slides.
11 Aug, 2024
[10]
Luxury brands in China take hit on low consumer confidence as economy slows
Asia sales of Louis Vuitton owner LVMH fell 13 per cent in the first half, while Chow Tai Fook’s plummeted 20 per cent in the second quarter.
24 Jul, 2024
