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Vogue Business

One of the defining characteristics of China’s new generation of consumers is unpredictability. This poses obvious challenges for traditional businesses and marketers. To stay relevant to Millennials and Gen-Z, speed is now the name of the game. Moving into 2021, brands and retailers are increasingly monitoring and rapidly responding to internet trends. Notably, retailers such as The Colorist and Wow Colour are now updating their ranges, as well as their physical and digital experiences on a weekly basis.

Alizila

In China, online shopping borders on the realm of being a pastime in itself. In this two-minute video, Alizila’s Jing Wang gives a crash course on ‘gamification’ – one of the major trends which has boosted Chinese eCommerce engagement to new heights in recent years. Gamification comes in the widest variety of forms: from virtual worlds (such as Alibaba’s Taobao life game), to coupon-incentivised virtual shopping tours and even augmented-reality (Pokémon Go-style) real-life experiences.

Bloomberg

China’s NPC concluded last week, outlining China’s 14th Five-Year Plan. Ambitious economic growth targets, as well as a roadmap were set: aiming to double China’s GDP by 2035. Some of the major strategies outlined to achieve this included the development of the digital economy as well as the stimulation of consumer spending. This comes after recent findings that China was the only major economy to experience growth in 2020.

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