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Consumers

Consumers
News about consumer spending and shifting shopping habits from around the world with a focus on developments in Hong Kong and mainland China.
last updated:
27 August, 2024
Demand for gold jewellery soared in China during the run-up to Valentine’s Day. Photo: Getty Images
China's economic recovery

How a Valentine’s Day fad sparked a ‘gold rush’ in China

Demand for gold jewellery spiked in China ahead of Valentine’s Day as consumers pivoted away from other luxury gifts.

Banking & finance

Estée Lauder, L’Oreal suffer as global brands’ lustre fades in China

China deflation

‘Farmers can’t bear it!’: China’s poultry industry scrambled by falling prices

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Fashion

Sibling synergy: how sister-led brands in fashion are thriving

From Istanbul and Australia, Copenhagen and London, fashion’s sibling founders talk business, friendship – and telepathy.

Lié Studio founders Amalie and Cecilie Moosgaard are just one of the teams of sisters making their mark in fashion. Photo: Handout
US-China trade war

China’s ‘iPhone City’ eerily quiet as Foxconn moves production amid trade war

The giant iPhone assembly plant in Zhengzhou has cut back on hiring as Apple loses market share in China and Foxconn shifts production overseas.

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China's economic recovery

China’s lottery sales see biggest year ever as games become ‘more fun’

Younger generation seen as especially keen on ‘experience economy’, with the thrill of the game overshadowing the slim odds of winning big.

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Consumer protection in Hong Kong

Complaints to Hong Kong consumer watchdog up by 20% to 40,839 cases last year

Food and entertainment services top the list, while Messi saga and Physical Fitness closure also behind spike in complaints.

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The abrupt close of the Physical Fitness gym chain was to blame for a rise in cases in the recreation and health clubs category. Photo: Jelly Tse
Banking & finance

Laopu Gold jewellery sells like hot cakes despite tepid China consumer spending

Fans of Laopu Gold say they like its ‘fixed price’ model and intricate craftsmanship.

China deflation

China faces an uphill battle to boost demand despite seasonal price rise

China’s consumer prices received a boost amid household spending rise in festival season, but ex-factory price fall extended.

China deflation

China’s exporters face a darker outlook in 2025 – even ‘magic crystal’ vendors

‘Healing’ crystals are generating huge buzz on TikTok, but the Chinese companies that sell them say overseas customers increasingly cannot afford to buy.

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Chinese vendors of “healing” crystals are struggling to deal with a slowdown in global demand. Photo: Shutterstock
US-listed Chinese stocks

KFC China operator Yum to continue opening spree, value-menu push

The company plans to add up to 1,800 new stores in 2025, maintaining a pace set last year to tap potential in lower-tier cities.

A customer leaves a KFC restaurant in Shanghai on October 9, 2015. Photo: Reuters
US-China trade war

What’s next for Calvin Klein after parent’s inclusion on Chinese blacklist?

Ministry of Commerce has put parent company PVH on its Unreliable Entity List for violation of market principles.

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Hong Kong stock market

From Labubu to Ne Zha: toy craze fans Pop Mart’s market-beating stock rally

Morgan Stanley names Chinese toymaker a preferred pick and predicts strong earnings upgrade this year amid bullish sales.

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Lunar New Year

China’s Lunar New Year spending spree offers hope for consumption boost

Statistics indicate domestic consumption broke several records during this year’s holiday, with lower-end spending seeing the biggest gains.

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China saw a large increase in domestic consumption over the recently concluded Lunar New Year holiday. Photo: Future Publishing via Getty Images
Electric & new energy vehicles

EV price war: Tesla offers Model 3 subsidies, Xpeng dangles zero-interest loans

Tesla and Xpeng are offering rebates on car insurance and loans in February in response to BYD’s price cut in December.

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People walk past a showroom outside Tesla China’s headquarters in Beijing in July 2018. Photo: Reuters
Hong Kong property

Restaurants Eggslut, The Ark to shut Hong Kong outlets amid retail upheaval

Burger joint The Ark is closing its Russell Street outlet later this week and plans to relocate to Shenzhen to follow the shift in spending patterns.

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China’s economic stimulus

Lunar New Year travel to China surges 200% as visa-free policies pay off

China logged a steep increase in inbound travel bookings for this year’s holiday, while the country’s outbound travel sector also showed signs of recovery.

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Lunar New Year

China’s box office riding Lunar New Year wave to record Spring Festival haul

Ne Zha 2 and Detective Chinatown 1900 lead the way as billions of yuan in cinema receipts bode well for an industry still looking to bounce back to pre-pandemic numbers.

A poster for Ne Zha 2 appears at a cinema in Hangzhou, Zhejiang province, on Monday. Photo: Getty Images
Lunar New Year

‘Little luxuries’: China’s crystal industry shimmers amid economic unease

Crystals with perceived properties to heal and enhance career prospects are increasingly becoming a source of hope and comfort in tough times.

Business of climate change

JD.com-backed gadget platform banks on China’s trade-in subsidy to spur volume

ATRenew, China’s largest platform for pre-owned electronics, is offering trade-in incentives to coincide with the Lunar New Year holiday.

Netflix

Get ready for Stranger Things merch as Netflix licenses Squishmallows maker

Stranger Things figures, play sets, toy vehicles, costumes and stuffed toys coming your way under streamer’s deal with soft toy company.

A still from hit Netflix series Stranger Things. The streaming giant has licensed Jazwares, maker of Squishmallows, to create merchandise based on the show. Photo: courtesy of Netflix
India

Gloom in India as more lose hope of better quality of life under Modi: survey

Survey results highlight India’s continued struggles with tackling unemployment and high inflation despite fast-growing economy, analysts say.

A man walks past a poster of India’s Prime Minister Narendra Modi at Freedom Park in Bengaluru on January 4. Photo: AFP
Retailing

China’s retail subsidy fuels Lunar New Year shopping spree

Sales of consumer goods such as smartphones and tablets soar, but long-term retail momentum remains uncertain.

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China food security

High-steaks challenge: how China feeds its huge, meat-hungry population

China’s 1.4 billion consumers have developed Western-style appetites for high-protein foods such as pork and beef, prompting far-reaching changes in the global economy.

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China's economic recovery

Can online gifts match digital red packets’ Spring Festival popularity?

Mixed response to internet platforms’ efforts to replicate the success of digital lai see, which was first introduced a decade ago.

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A family hangs a traditional red lantern Spring Festival decoration in a village in Huaying, Sichuan province, on Thursday. Photo: Xinhua
China's economic recovery

‘Incomparably nice’: Chinese supermarket wins viral fame for stellar service

Pangdonglai has proved there is still life in bricks-and-mortar retail in China, with customers queuing for hours outside its stores ahead of the Lunar New Year holiday.

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Customers crowd the aisles in a Pangdonglai supermarket in Xuchang, Henan province. Photo: Weibo
Hong Kong property

Hong Kong developer Hang Lung diversifies amid consumer challenges

‘We have to improve ourselves and make sure that our offering is relevant,’ CEO Weber Lo says.

Hong Kong courts

Winding-up order for Hong Kong’s debt-ridden Physical gym chain

Firm owes 374 employees more than HK$70 million in unpaid salaries, court hears.

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