Brand New Or Preloved? Gen Z Drives Surprising Boom In Second-hand Luxury In China
“The trend has been driven largely by the economic squeeze of the pandemic, with more people looking to sell their luxury goods for cash and luxury shoppers tightening their belts. Moreover, travel restrictions prevented Chinese luxury shoppers from going overseas to bypass the significant price gap for luxury goods between China and other markets like […]
Shein Wages Court Battle Against Rival Shopping App Temu
Although Temu is still in its early days and will need to work hard to build trust with American consumers, analysts say that the shopping app has a competitive edge when it comes to offering cheaper prices and discounts — such as 20 percent off sitewide when it first launched. Additionally, Temu may have better […]
China Exits ‘Dynamic Zero’ But Many Consumers Remain Indoors
“Even though most people wanted COVID Zero to end, there is an adjustment period before we enter the new normal,” remarked Jacob Cooke, co-Founder and CEO of Beijing-based WPIC Marketing + Technologies. “The community spread of COVID creates new challenges for individuals, the healthcare system, and businesses. For brick-and-mortar retail, the biggest immediate challenge is […]
Opening The Door To China’s Advent Calendar Market
For those unfamiliar with the concept, Beijing-based Jacob Cooke, co-founder and CEO of e-commerce consultancy WPIC Marketing + Technologies, compares the advent calendar to China’s booming blind box trend. As with these, “customers don’t know exactly what products they’re getting. This is a popular retail format in China with part of the value coming from […]