Posts Tagged ‘China’s Consumer Economy’
China’s fast-developing tech and e-commerce ecosystem is arguably a boon for luxury brands that can successfully navigate the market’s digital landscape. From JD.com’s ever-evolving shopping integration with WeChat to Alibaba’s progress in New Retail, brands have access to a more integrated landscape from which to reach and cater to an increasingly discerning Chinese consumer.
The growing potential for brands in China is apparent in WPP and Kantar Millward Brown’s latest BrandZ rankings report, which illustrates how China’s tech and retail giants are driving the growth in the overall value of the nation’s top brands as they break down borders between social media, e-commerce, travel, and other categories to become all-encompassing platforms.
(The only brand that can be described as luxury among the top performers is baijiulabel Moutai, which placed seventh.)