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Consumers

Visitors look at Mona M03 electric vehicles (EVs), displayed at an XPeng launch event in Beijing on August 27, 2024. Photo: Reuters

Unprofitable Chinese EV makers face ‘do-or-die moment’

Only those that can sustain operations without external funding will stay in the race amid overcapacity and tariff woes, analysts say.

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Temu owner PDD sees 10% plunge in pre-market trading despite 44% revenue growth

China’s second-richest man blasts Pinduoduo for hurting domestic brands

China’s stimulus debate reignites questions of who gets what, and how

Better social welfare could increase financial security and encourage spending, while cash handouts could quickly lift consumption, economists say.

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A man carries a television set on his shoulder as he passes through the Sanlitun shopping district in Beijing. Photo: AP

Indonesians urge ‘structural frugal living’ boycott of planned VAT hike

Analysts say the hike could add to the middle class’ financial burden, with some Indonesians planning to avoid buying goods subject to VAT.

Apple reveals App Store revenue share in China as Huawei rivalry grows

The US giant says most of its App Store revenues in China are paid to developers and companies.

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Why are consumers in some of China’s smaller cities outspending metropolitans?

People face less daunting financial pressures and lesser debt burdens in smaller Chinese cities, with relatively stable expectations about the future.

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China’s second- and third-tier cities are seeing retail spending bounce back faster than in first-tier cities. Photo: Reuters

BYD set to usurp VW as China’s top carmaker amid surge in EV deliveries

BYD’s total deliveries have exceeded perennial leader Volkswagen’s volume this year through October.

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Starbucks Malaysia confronts long-term sales decline from anti-Israel boycott

Malaysia’s largest bank has warned that the brand is likely to suffer from long-term slumping sales, despite a booming coffee market.

China’s lonely-heart crisis fuels a growing ‘companionship economy’

As Chinese society becomes more atomised, consumers devoid of human interaction are increasingly opening their wallets to stave off loneliness.

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China’s single population is increasingly turning to various forms of paid companionship – from chatting with strangers online to virtual role-playing games. Photo: Shutterstock

Southeast Asia is the new Singles’ Day battleground as lustre fades in China

Promotions from Chinese e-commerce platforms are infiltrating people’s lives across the region, where e-commerce is seeing explosive growth.

A TikTok Shop Singles’ Day ad flashes across a large LED screen in on the streets of Bangkok. Photo: Wency Chen

Explainer | ‘Little room for complacency’: 6 takeaways from China’s October economic data

China’s retail sales continued to improve in October following a raft of stimulus policies, but property investment remained a drag.

Hong Kong consumer watchdog receives 529 complaints in 10 months over concerts

Denial of refunds, unclear arrangements for meeting performers and obstructed views among cases received by Consumer Council.

‘Decisive support’ needed to sustain China’s momentum despite stimulus lift

China’s retail sales continued to improve in October following the raft of stimulus policies, but property investment remained a drag.

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Vendors unpack clothes at a wholesale market in Guangzhou. Photo: AFP

Would cooling-off period stop Hongkongers from being burned by gym hard sell?

Customers of failed fitness chain Physical say they prepaid large amounts for services to be used over many years.

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Illustration: Lau Ka-kuen

China’s EV production moves into fast lane as output hits 10 million

Chinese EV makers have delivered 9.75 million units to mainland buyers between January and October, a year-on-year jump of 34 per cent.

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China’s luxury market loses shine as Bain study shows spending decline

China’s high-end consumers have had a tighter grip on their wallets this year, with study from Bain & Company showing less luxury spending.

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Chinese EV makers’ global plans hit bumps amid Beijing’s warning, failed deals

After officials warned against investments in EU countries that favoured recent tariffs, EV makers may need to rethink their strategies.

People look at a car made by Chinese EV company Nio in a showroom in Berlin on August 17, 2023. Photo: Reuters

Hong Kong authorities arrest 13 unlicensed hawkers for illegal sale of food

Vendors sold products such as sushi, bread and canned products that had expired or were from unknown sources, authorities say.

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Can a flurry of winter tourism, sports help thaw China’s economy?

As northern temperatures start to plunge, China’s State Council issues guidelines for the enhanced cultivation of a ‘snow and ice economy’.

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Vietnam threatens to block Chinese retailers Shein and Temu over licences

Fast-fashion retailer Shein has been selling to Vietnam for at least two years. Temu began allowing users in the country to shop last month.

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The logos of Shein and Temu. Photo: Reuters

From Ikea to Muji, foreign brands still bet big on Chinese consumers

Lifestyle-product retailers are investing in new stores in China, as richer consumers continue to splurge on quality imports.

Ikea and other global lifestyle-goods retailer are opening new stores in China. Photo: AFP

‘Huge opportunity for us’: can Nepal cash in on China’s tourism campaign?

Nepal should introduce more incentives and use Chinese social media platforms to promote itself to bring in visitors, industry players say.

Alibaba gives sellers a sweeter deal as Singles’ Day switch-up bears fruit

China’s largest e-commerce firm was slipping in the war for consumers’ wallets. Then it reshaped its relationship with merchants.

Not ‘whatever it takes’: China’s stimulus strategy seen as long and intact

Beijing’s reluctance to use strong measures to rapidly turn tide of sluggish economy keeps markets, consumers and analysts waiting in wonder.

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Illustration: Brian Wang

Southeast Asia’s e-commerce gold rush draws Chinese giants

The region’s e-commerce market is set to double by 2030, a new report finds.

Sellers in Jakarta, Indonesia, conduct a live-streamed sales session on TikTok. Photo: AFP

Bulgari banks on Chinese consumers to fuel luxury growth as economy improves

The Italian fashion brand in the LVMH stable bets on a recovery in the next two years with a plan to open more mainland stores.

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Income, job woes still weigh heavy as China targets consumption in 5 key cites

Events will take place in Shanghai, Beijing, Guangzhou, Tianjin and Chongqing in November to coincide with China’s annual Singles’ Day event.

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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
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