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TOPIC

Consumers

Consumers
News about consumer spending and shifting shopping habits from around the world with a focus on developments in Hong Kong and mainland China.
A drink and several meals from KPRO’s menu. Photo: Handout
China’s private sector

A new battlefront for KFC and its Chinese rivals: the lighter meal

Big-name fast-food chains are seeking to capitalise on a surge in demand in China for lighter meals.

Banking & finance

Millions of Chinese consumers ditch their credit cards amid weak retail spending

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Hong Kong property

Hong Kong to see more mainland Chinese brands enter retail market, analysts say

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Fashion

Chinese fast-fashion juggernaut Shein to buy eco-friendly Everlane

The ‘jarring’ takeover bid arrives at a time when Everlane is struggling with weak sales and higher debt.

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Chinese fast fashion heavyweight Shein is buying Everlane for an undisclosed price. The deal comes as Everlane is struggling. Photo: AP
United States

US jobless claims fall as lay-offs remain low despite economic uncertainty

Despite historically low lay-offs, the labour market appears to be stuck in what economists call a ‘low-hire, low-fire’ state.

Electric & new energy vehicles

China’s Chery plans for 1m EVs sold abroad amid global energy crisis

Anhui-based carmaker anticipates 27 per cent increase in foreign deliveries in 2026 as battery ranges improve and oil prices rise.

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Electric & new energy vehicles

China’s Nio slams EV price wars as costs surge, defying cuts by rival Li Auto

Nio and Li Auto take different approach to pricing new models, with one executive praising ‘reasonable’ carmakers that raise prices.

A Li Auto L9 is displayed at the auto show in Beijing on April 24. Photo: AFP
China consumption

China’s unexpected retail slowdown shows Hormuz strains

Retail sales growth slumped in April, industrial output cooled and fixed-asset investments tumbled as high oil prices hit China’s economy.

Hong Kong property

Fresh concepts lift Hong Kong retail property as tourists and consumers return

Landlords betting on a diversified tenant mix – from pop-ups to ‘sportainment’ – to sustain growth in retail property market, analysts say.

China travel

China’s hotel sector shines, poised to outperform through 2026 on strong demand

International hotel chains ride China’s travel rebound, posting gains as domestic demand and inbound flows strengthen.

Waldorf Astoria Shanghai Qiantan by Hilton. Photo: Handout
Electric & new energy vehicles

Oil shock fuels BEVs to 9 of top 10 in sales, with China brands overtaking Tesla

Battery EVs take nine of top 10 sales spots amid surging oil prices, giving local brands the edge and pushing Tesla down April charts.

Geely vehicles are on display at Auto France in Paris on April 28. Photo: Reuters
Consumer protection in Hong Kong

Top-rated air cons in Hong Kong vary by 33% in cooling efficiency, watchdog finds

Models tested included seven reverse-cycle air conditioners, while rest were cooling-only units.

Style Edit

Style Edit: Emmanuel Perrin, Panerai CEO, on its watches’ maritime heritage

The brand has long worked with the Italian Navy – resulting in ‘big, tough, functional watches’ that appeal to Sylvester Stallone and Dwayne ‘The Rock’ Johnson.

Hong Kong economy

Hong Kong Airport Authority takes over 11 Skies retail from New World: sources

Authority says it continues to communicate closely with New World about 11 Skies project, and is going ‘full steam’ ahead with development.

11 Skies at Skycity near Hong Kong International Airport, Chek Lap Kok. Photo: Karma Lo
Indonesia

Why Indonesia is expanding under-16 social media ban to e-commerce

The plan aims to protect children from online scams and impulse buying, but experts say it could be a major compliance test for platforms.

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Indonesia’s social media ban for children has been effective since March 28. Photo: AP
United States

US consumer inflation jumps as Iran war sends energy prices higher

Inflation had been dropping more or less steadily since peaking with a 9.1 per cent year-over-year spike in prices in June 2022.

Style Edit

Style Edit: Tiffany & Co. brings New York flair to Hong Kong’s Lee Gardens

The American jewellery house’s CEO and president Anthony Ledru on how the city’s vibrant hospitality culture makes Hong Kong a priority for the brand.

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Electric & new energy vehicles

Chinese smart cars set to control 20% of western European market by 2028: JPMorgan

Amid surging demand for electrification and a worldwide energy crisis, domestic carmakers can benefit from the stepped-up ‘go-global’ drive.

MG electric cars before being loaded onto a ship for export at the port in Lianyungang, Jiangsu province on April 29. Photo: CN-STR / AFP
China inflation

China’s producer, consumer inflation up in April as Iran war pressures persist

Factory-gate prices increased 2.8 per cent last month and consumer prices were up 1.2 per cent, surpassing expectations as fuel costs rise.

Electric & new energy vehicles

Tech and pricing edge behind China’s SUV surge against BMW, Mercedes and Audi

Chinese SUVs storm the premium segment with fresh momentum, giving German marques their toughest test in years.

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China economy

Opinion | Can China engineer a price recovery that doesn’t make people feel poorer?

The producer price uptick offers a policy window: if reinforced by household demand and expectations, it could kick off a broader recovery.

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People cross a road near a shopping centre in Beijing on March 7. Photo: AFP
Malaysia

Malaysia’s EV import curbs to protect local sector criticised for inconsistency

The move contradicts the country’s aim to grow the EV sector and use more renewable energy sources, analysts say.

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Malaysia’s Prime Minister Anwar Ibrahim touches the first locally made electric vehicle, Proton’s e.MAS 7, at its launch in Kuala Lumpur on December 16, 2024. Photo: AFP
Electric & new energy vehicles

Tesla China posts 36% sales rise, as local rivals nip at heels

April sales rose on a year-on-year basis but dropped from the previous month, indicating fiercer competition from domestic brands.

Electric & new energy vehicles

China’s move to cut EV payment cycles may push weaker carmakers out: S&P

China’s weaker EV makers may soon be running on fumes as tighter payment cycles squeeze cash flow and curb price wars.

Samsung Electronics

Samsung halts all home appliance sales in China as pivot to AI accelerates

The South Korean firm had seen its market share in mainland China dwindle amid intense competition from a slew of domestic rivals.

The logo of the South Korean company Samsung is seen at the International Consumer Electronics Fair IFA. Photo: dpa
China travel

China’s record travel volume meets cautious spending in May Day holiday surge

Thousands of domestic train services added on last day of ‘golden week’ to meet record demand, and high energy costs affect consumer spending.

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Dozens of yachts are seen in waters off the coast of China’s Hainan province on Sunday, during a five-day national holiday. Photo: Xinhua
China consumption

Shenzhen’s economic dilemma: soaring GDP, stagnant consumption

Shenzhen’s retail sales barely rose in the first quarter despite strong GDP growth, a sign of the Chinese tech hub’s unbalanced development.

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US-China relations

Exiting China market a ‘self-inflicted wound’ for US tech, think tank warns

ITIF argues that regional sales help finance domestic R&D and block local rivals, while warning that a full exit would be a self-inflicted wound to innovation leadership.

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