127/n #aiexpedition – the China appendix, No. 4. CONSUMERS. The demonstrative indifference that tourists encounter in Shanghai is surprising also because China's economy could really use private consumption right now. This is evidenced not only by macroeconomic statistics or the collapsing China sales of Gucci reported at the end of March, but also by anecdotal evidence. On Saturday evenings or during the Qingming holiday, Nanjing Road shopping boulevard was very busy. But beyond prime time and prime locations, streets, malls, and shops are sometimes almost deserted. In the "Super Brand Mall" in the shadow of the Shanghai Tower, e.g., artistically veiled sales areas (pictured) indicate retail calculations that do not (or no longer) add up. This was very different in all the other metropolises I visited in the Far East before. HOUSING. Vacancies are not only found in retail but also in the housing market. From the train from Shanghai to Suzhou (yes, in the end, we got our train tickets through detours), we repeatedly detected entire groups of tall, obviously completed but vacant residential buildings. I have only seen something like this before in Bangkok and Kuala Lumpur – in 1998, when a debt-fueled real estate bubble caused the great Asian crisis. (To be continued.) #goingeast2024 with Pascal Roski. #axelspringer
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𝐇𝐨𝐧𝐠 𝐊𝐨𝐧𝐠’𝐬 𝐥𝐮𝐱𝐮𝐫𝐲 𝐫𝐞𝐭𝐚𝐢𝐥𝐞𝐫𝐬 𝐚𝐫𝐞 𝐚𝐝𝐚𝐩𝐭𝐢𝐧𝐠 𝐭𝐨 𝐬𝐡𝐨𝐩𝐩𝐞𝐫𝐬 𝐭𝐮𝐫𝐧𝐞𝐝 𝐭𝐨𝐮𝐫𝐢𝐬𝐭𝐬 Hong Kong's luxury #retailers are adapting to fewer wealthy Chinese shoppers visiting the city and a shift towards tourists flocking to Instagram-coveted spots in trendy districts. Click here to know more - https://lnkd.in/gQUKnSJ5 #AI #Retail #BrandRetail #TextileRetail #ApparelRetail #RetailNews #ApparelResources #DailyNews
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Despite ongoing challenges in the retail sector, Hong Kong's consumer confidence is gradually rebounding to pre-COVID levels. The city continues to hold a crucial position in the global market, partly due to the support of mainland Chinese tourists. Retail sales in Hong Kong have experienced a decline, especially in luxury spending, but efforts are being made to reduce reliance on this segment and diversify offerings. The recent return of runway shows by renowned fashion brands like Louis Vuitton and Dior is a positive sign for Hong Kong's position as an international fashion platform. #design #asia #hongkong #consumer #confidence #saleslevel #retail #retailer #designers #globalmarket
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Well done Hutch and team ;-)
#XOR proudly unveiled our hand-crafted mobile phone at the Hainan Expo, We're honoured to showcase British craftsmanship at the Hainan Expo and look forward to connecting with discerning customers who appreciate the artistry and exclusivity of our products. #LuxuryTech #GlobalMarket #Craftsmanship #China #MadeInEngland #HainanExpo #CGTN https://lnkd.in/eJNThNnV
2024 Hainan Expo: Why China: UK's only luxury phone maker makes debut in Haikou
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