The educational tourism market in China, encompassing both domestic and international tours, has experienced a strong rebound post-pandemic, shown by a surge in demand for study tours in summer 2023. National policies and parental preferences present promising opportunities for market growth, driving key players to offer diverse international and local tour options. Educational tourism predominantly caters to students from primary and middle schools, with a primary focus on families residing in first-tier and new first-tier cities like Beijing, Shanghai, Guangdong, Hangzhou, Chongqing, and Che ..read more

In China, where consumerism holds sway, a shift towards quiet luxury has emerged, prioritizing restraint and timeless elegance over fleeting trends. Originating in the West in early 2023, the quiet luxury aesthetic has now found its way into China, reshaping Chinese luxury consumption. “Old-money style,” “Clean-fit style,” and “Maillard style” have helped the rise of quiet luxury, alongside a maturing luxury market and economic challenges post-pandemic. While the rise of quiet luxury presents opportunities for luxury brands, it also requires careful consideration for the future. This article d ..read more

BYD (Build Your Dreams) has become a prominent testament to China’s remarkable ascent within the global economy, placing the brand as a symbol of the country’s economic success story. BYD was founded in 2005, initially focusing on making rechargeable batteries for consumer electronics. However, BYD’s founder and CEO Wang Chuanfu’s had different aspirations. He envisioned BYD playing a significant role in the burgeoning electric vehicle industry beyond being a simple battery OEM. Despite early skepticism and challenges to emerging as a key player in the automotive revolution, BYD quickly scaled ..read more

The musical market in China is one of the fastest-growing markets worldwide. In 2023, the sector’s revenue increased by around 25% compared to the previous year. The digital music industry represents the backbone of the music market. As of 2023, it had a revenue of more than RMB 32.2 billion (USD 4.5 billion). The trend of consuming online music is also on a fast rise, growing by around 33% compared to 2022. It was projected to reach almost RMB 50 billion in revenue by 2025. The constant rise of digital consumers and the increasing usage of artificial intelligence among creators are only a few ..read more

Since its introduction to the Chinese market, LEGO Education has played a pivotal role in revolutionizing how students engage with STEAM (Science, Technology, Engineering, Arts, and Mathematics) concepts. Benefiting from the governmental endorsement of STEAM education, LEGO Education has made its way into classrooms. The company has opened learning centers, which have withstood the crackdown on the tutoring industry of 2021. Despite facing competition within the STEAM education sector, LEGO Education remains popular in China. It focuses on fostering enthusiasm among Chinese students to showcas ..read more

In 2023, the Chinese luxury market witnessed a notable rebound, propelled by its core luxury consumers who proved less susceptible to the economic slowdown reflected in the country’s GDP. Despite a marginal decline in consumer confidence, spending by Chinese luxury shoppers demonstrated robust growth, registering a remarkable 12% year-on-year increase. The domestic luxury market size experienced a noteworthy surge, escalating from RMB 401 billion to 449 billion in 2023. This significant recovery is predominantly propelled by core luxury shoppers, whose demand shows less elasticity, thus positi ..read more

Rice has traditionally been a staple in Korean cuisine for centuries. However, in recent years, there has been a significant shift in consuming bread, reflecting changing dietary preferences and lifestyle trends. This shift has led to the emergence of a vibrant bread market in South Korea, alongside the rice market. Read our Korea’s MZ Generation report Bread market segmentation in South Korea The bread market in South Korea is largely categorized into two main types: mass-produced bread and bakery products. Mass-produced bread is made in large quantities at factories, packaged, and distribut ..read more

China’s birth rate to plummet, dropping to a mere 1.15 in 2021 and currently nearing 1.0, despite the 2016 abolishment of the single-child policy. Combined with the booming economy, the trend has a significant impact on child-rearing practices. With fewer children to invest in, parents are now channeling their growing disposable income towards a new focus: their offspring’s holistic development. This shift in priorities has fueled a remarkable boom in the market for children’s activities in China, extending far beyond traditional academic pursuits. Influencing factors: The blossoming children ..read more

In the pulsating heart of China’s ever-evolving logistics landscape, a titan, Full Truck Alliance (满帮集团) emerged in 2017, forged from the fusion of two formidable forces: Jiangsu Manyun Software Technology Co. (operating under the app brand Yunmanman, 运满满), Ltd. and Guiyang Huochebang Technology Co., Ltd (operating under the app brand Huochebang, 货车帮). As the largest digital freight platform in China, Full Truck Alliance reported a revenue of RMB 8.44 billion in 2023, marking a 25.3% increase from the previous year’s RMB 6.736 billion. Its net profit for 2023 stood at RMB 2.227 billion, reflec ..read more

China’s birth rate to plummet, dropping to a mere 1.15 in 2021 and currently nearing 1.0, despite the 2016 abolishment of the single-child policy. Combined with the booming economy, the trend has a significant impact on child-rearing practices. With fewer children to invest in, parents are now channeling their growing disposable income towards a new focus: their offspring’s holistic development. This shift in priorities has fueled a remarkable boom in the market for children’s extracurricular activities and entertainment, extending far beyond traditional academic pursuits. Influencing factors ..read more