Chinese went on 726 million domestic person-trips and 7 million outbound trips in the Golden Week holiday of 2018 (1-7 Oct). They altogether spent 650 billion yuan (US$93.65 bn) on traveling. Both the average daily sales of retail, food & beverage, and the domestic person-trips dropped. Travelers spent less on outbound travels. Only 19% of outbound […]
China GDP overview for Q3 2018
The gross domestic product (GDP) of China was 65,089.9 billion yuan (US$9,368.51 bn) in the first three quarters of 2018, a year-on-year increase of 6.7% at comparable prices, according to the preliminary estimates of National Bureau of Statistics of China.
China retail market up 9.2% to US$462B in Sep 2018; online up 27%
In September 2018, the total retail sales of consumer goods reached 3,200.5 billion yuan (US$461.81 bn) in China, up by 9.2% year-on-year (nominal growth rate), according to National Bureau of Statistics of China. The retail sales of consumer goods of units above-designated size reached 1,276.2 billion yuan (US$184.15 bn), increased by 5.7%.
8 Types of Chinese outbound travelers
There are various types of Chinese outbound travelers and a recent McKinsey study categorizes them into eight groups according to the differences in travelers’ preferences and behaviors. 1. Value-conscious traveler Low income ( family monthly income of 11,999 yuan) group. The objective of traveling is to stay away from busy life and enjoy the quality […]
The changing demographics of Chinese outbound travelers
With the increasing number of Chinese tourists vacationing in international destinations, their preferences, behavior and purchasing patterns are undergoing significant changes. 1. Experience-centered Not all Chinese tourists are in it for the shopping. When planning an international trip, Chinese travelers prefer destinations with beautiful natural scenery (65% of respondents), according to McKinsey with good value […]
Chinese outbound travelers – opportunities for travel agencies, retailers, and hotels
Outbound travel is becoming a major factor affecting the development of travel agencies and high-end tourism markets. For travel agencies, there are two types of competition that are key to value chain integration according to a recent McKinsey report. This article also shares information on outbound tourism opportunities for the travel retail and hotel industries. […]
China’s flower e-commerce market in strong growth; to hit US$7 billion by 2021
In China, the flower e-commerce has been a 12.41 billion yuan (US$1.79 bn) market in 2017, approximately 10 times larger than it was in 2013. With the development of consumption habits and the improvement of cold chain logistics, this market is blossoming. Previously, it occurred to people only when there were festivals or big events. […]
This Chinese bookstore chain manages to be profitable and expanding
Sisyphe Books, originally from Zunyi City of Guizhou province in China, had opened 8 bookstores after 15 years of development. In the year 2008, Sisyphe opened the first 2.0 concept bookstore in Chongqing. It entered Shenzhen in the year 2013.
59.9% of China mobile payment users bought financial products, Ye’E Bao the most popular
The mobile payment transactions totaled 14.92 billion with an amount of 62.88 trillion yuan (US$9.09T) in Q2 2018, an increase of 73.09% and 60.24% year-on-year, respectively. The mobile payment users were expected to reach 650 million by the end of 2018. The young are the major users of mobile payment. 59.9% of mobile payment users […]
China third-party mobile payment report H1 2018; Tenpay leads, followed by Alipay
92.4% of mobile internet users in China used mobile payment. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay are 85.4% and 68.7% respectively. In personal transactions, mobile payment was most frequently used in phone top-up (69%), money transfer (63%), and red envelope sending (60%). Check out more usage scenarios below. The […]
China saw 15 billion mobile payment transactions in Q2 2018, up 73%
In China, a total of 53.358 billion non-cash payment transactions were processed with a total amount of 951.72 trillion yuan (US$137.52T) in Q2 2018, an increase of 44.61% QoQ and 0.2% year-on-year, according to the report from the People’s Bank of China. Among that, e-payment transactions processed via bank institutions reached 43.77 billion with an […]
Why and how Chinese digital media Yitiao expanding to offline retail
Yitiao, a video-focused content producer and e-commerce start-up, opened its first three brick-and-mortar stores in Shanghai on September 22, 2018. Yitiao has been one of the top WeChat Official Accounts by total followers that produces original videos after four years’ operation. It also established its own e-commerce platform aiming at China’s new middle class based […]
Lifestyle of China’s post-00s online users
China’s post-00s (the generation born in the 2000s) favorites internet slang in order to be social and interact with others. 15% of them place “entrepreneurship” as the future career direction. Social, fashion, and personalization are most-valued characteristics of pan-entertainment products. They are willing to pay for good user experience and high-quality content, according to the report […]
67% of China tourism accommodations are budget hotels
There were a total of 457,834 accommodation companies in China with 16,770,394 rooms as of 2017. Among that, 317,476 were hotels (each with 15 or more hotel rooms), with a total number of 15,480,813 hotel rooms. The average hotel rooms per hotel were around 49. Budget hotels took the largest share of 67%. Around 10.39 […]
China’s online gaming market shrank by 10.8% in Q2 2018
China’s online gaming market decreased by 10.8% YoY to US$8.29 billion in Q2 2018. Mobile games accounted for 65.1%. Tencent is the biggest player with a share of 53.17%.