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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.
last updated:
27 August, 2024
BYD EVs at a plant in Rayong, Thailand. Photo: Reuters
Electric & new energy vehicles

Prices slashed again in China’s EV sector, threatening unprofitable carmakers

An anticipated sales decline after a subsidy expires is expected to exacerbate the financial squeeze that is throttling smaller players.

Retailing

‘Old money’ look beats nouveau riche glitz in China’s spending slump

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Hong Kong environmental issues

Opinion | What Hong Kong’s 2023 waste data tells us, and what it doesn’t

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China exports

How ‘made in China’ became trendy, thanks to Labubu toy’s Asia-wide success

Pop Mart toys are gaining global recognition for their unique designs and brand power.

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Labubu toys on display at the opening of a Pop Mart store in Bangkok, Thailand, in July. Photo: Xinhua
China stock market

Buy or wait? Consumers put Beijing on hook for more rescue subsidies

Retailers fret about weak sales while ‘greedy’ consumers hold out for bigger subsidies from Beijing next year.

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Japan

‘Very worrying’: record 78% of people in Japan feel anxious, survey shows

Economy, rising prices, uncertain job prospects and the state of the world among reasons for concern, as more feel standard of living declining.

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Hong Kong economy

Opinion | True Hong Kong service won’t be found in an order-it-yourself app

From QR codes to place an order in restaurants to self-service checkouts, cold tech is taking away the warmth of proper service.

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Lin Heung Lau, a 100-year-old resturant in Central, Hong Kong, has kept the traditions of handwritten wall menus and dim sum trolleys. Photo: Alexander Mak
China jobs

How China’s consumption downgrade pushed small businesses to the brink

Small-business owners have been forced to cut staff and close stores in ever greater numbers in recent months, adding to China’s economic gloom.

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Hong Kong property

Mainland Chinese retailers make their presence felt in Hong Kong

China’s largest coffee chain opens first outlet in the city as it goes up against US rival Starbucks.

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Hong Kong society

Hong Kong watchdog receives 19 complaints over Real Madrid fan meet fiasco

Consumer Council cites organisers as saying they will not be issuing full refunds.

Real Madrid legend Luis Figo sits on a sofa at the Hong Kong Golf and Tennis Academy, while fans hoping to get players’ autographs queue in the corridor. Photo: Handout
Electric & new energy vehicles

EV maker Nio unveils Firefly branded cars to take on Mini Cooper and Smart

The launch is an advancement in Nio’s drive into international markets.

Nio CEO William Li introduces its Firefly brand. Photo: Handout
China economy

Editorial | Patience needed when it comes to managing the economic recovery

Bringing about meaningful structural changes and stimulating healthy growth in the world’s second-largest economy is no simple task.

China's economic recovery

China sees surge in travel demand for extended Lunar New Year holiday

Flights and group tours are already booking up weeks ahead of the eight-day public holiday, which begins on January 28.

China economy

Opinion | Why China will struggle to boost consumption

A system which emphasises stability and control will face challenges in uncovering the DNA of the Chinese consumer.

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A woman shops at a clothing store in Beijing, China, on October 18. Photo: EPA-EFE
Stocks

Chinese toymaker Pop Mart’s 370% surge fuelled by blind box collectibles

Pop Mart’s blind box toys have become a global sensation, turning the toymaker into the hottest Chinese growth company.

Pop Mart earns most its revenue from proprietary intellectual property products. Photo: Shutterstock
Japan

In Japan, a protein pioneer’s edible insect experiment fails to fly

The founder of Gryllus Inc, which has filed for bankruptcy, maintains that his company’s insect-based food was ahead of its time.

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China economy

Opinion | In 2025, the only constant in China will be change

With China’s economic and social landscape set to be reshaped, businesses must stay agile and be prepared for change and uncertainty.

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Consumer protection in Hong Kong

Claws celebre: complaints spike over Hong Kong’s claw machines

One enthusiast says he received just a few trinkets instead of the waffle maker he had spent HK$500 securing.

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The Consumer Council says the number of claw machine-related complaints had risen to 42 in the first 11 months of the year, well above the 16 in the whole of 2023. Photo: Jelly Tse
Starbucks

Starbucks hires chief growth officer in China to fight off Luckin Coffee

Tony Yang will focus on attracting young coffee drinkers via tie-ups with entertainment franchises and pop culture icons.

Consumer protection in Hong Kong

Plasticisers in nearly half of desk mats sold in Hong Kong exceed EU standards

Seven out of 15 products tested by Consumer Council contain ‘reproductive toxicants’ at levels that could harm users’ endocrine system.

China's economic recovery

China’s November consumption misses estimate, adds urgency to stimulus

Retail sales grew by just 3.0 per cent last month, while property investment also continued to drag, falling by 10.4 per cent in first 11 months.

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A worker makes Christmas decorations at a workshop in Huaibei in China’s eastern Anhui province. Photo: AFP
Hong Kong property

More Hong Kong shops to close, as retail shifts online

Local beauty brand JaneClare is an example of a firm that is making money online, but still values real-world spaces.

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Interior view of JaneClare’s flagship store in Tsim Sha Tsui. Photo: Sun Yeung
China technology

Chinese venture capital firm finds growth in niche spending amid overall slump

BA Capital has been able to tap into niche consumer areas to grow into a firm with US$1.38 billion under management.

TikTok

TikTok Shop is outperforming Shein and Sephora among US shoppers online

A new consumer trends report found that 45 per cent of surveyed Americans have bought something on TikTok.

Beauty

What perfumes do Chinese like? New trends as industry surges

With the Chinese perfume market far outpacing the global one, experts reveal note trends in mainland China and Hong Kong, and in Singapore.

Products of Maison 21G is displayed in the store at Hysan Place, Causeway Bay. 01NOV24 SCMP/ Fan Chen
E-commerce

Beijing puts e-commerce sector’s ‘refund-only’ policy and PDD under scrutiny

The State Administration for Market Regulation and the Ministry of Commerce have directed Pinduoduo owner PDD to fix this practice.

The intervention by regulators reflects how the “refund-only” practice has been abused and hurt online sellers’ earnings. Photo: Shutterstock
Banking & finance

China’s Urban Revivo takes global fashion push to Bangkok, New York, London

Parent FMG is also reportedly planning a more than US$100 million initial public offering in Hong Kong.

China stock market

China consumer spending to rise modestly in 2025, Bain and Kantar say

Report predicts a single-digit percentage rise in the value of consumer spending next year, as volume rises while price pressures continue.

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