Find out more about China’s vibrant economy, internet culture and rising consumer class. How can UK retailers secure their slice of this lucrative market – whether connecting to people in China, or Chinese tourists here in the UK?
Actionable takeaways include insights into:
- Vibrant economy: China’s economy is growing faster than the US and EU’s. Alibaba’s retail marketplaces see continued growth in consumer staples, cosmetics and apparel
- Internet culture: China’s online retail market will be twice that of the US’ by 2022. Online purchases made with mobile phones will account for 74% of ecommerce in China by 2020
- Rising consumer class: China’s experiencing a middle-class consumer boom – with 300 million middle-class citizens (expected to double in by 2024), high discretionary spending, and desire for quality products and lifestyles. The per-household disposable income of urban consumers will double between 2010 and 2020, from approx. $4,000 to $8,000
Passion for British brands: “Made in the UK” represents a quality assurance for Chinese consumers. More than half (55%) of shoppers in China bought items from British brands within a three-month period (Royal Mail survey, Feb 2018)
Success stories (case study): Chinese consumers’ favourite UK brands include: Jo Malone, Dyson, Burberry, Next, Ted Baker, Twinings, Cath Kidston, Boy London, Clarks, Mothercare, Joseph Joseph, Trunki. LK Bennett, All Saints, Dr Martens, Riley Snooker, Oliver Sweeney, Liverpool FC, Tangle Teezer, Holland and Barrett, Whittard, Kenwood, Manchester City, Faith in Nature, Radley, GHD
- Early adopters: Chinese consumers are now the most sophisticated consumer group in the world, demanding innovation and new technology from retailers
Mei Chen
Senior Manager, Fashion and Luxury, Europe
Alibaba