As the year comes to a close, restaurants have continued to be a major place for consumers to spend time — especially with the mass decline of “third places,” a place for people that encourages social interaction and public relaxation outside of the home (“first place”) and work (“second place”) through shared activities and shared … Read more
Chinese consumer spending is so weak that even Starbucks is considering selling a stake in its China franchise, but one venture capital firm is bucking the trend by finding growth in niche sectors despite overall weakness. Shanghai-based company BA Capital, a long term backer of China’s “blind box” toy franchise Pop Mart and jeweller Laopu … Read more
China’s video gaming industry grew 7.53 per cent this year, reaching record sales of 325.8 billion yuan (US$44.8 billion), aided by the release of new hit games, according to the country’s semi-official gaming industry association. The figures for the domestic video game market, the second-largest in the world, mark the highest annual sales since the … Read more
Black Friday sales grew at a faster pace in the U.S. this year, underscoring that choosy consumers are still opening their wallets when they find the right products. Retail sales, excluding automotive, grew 3.4% on the day after Thanksgiving, the traditional start of the holiday shopping season, according to Mastercard SpendingPulse. That figure outpaced growth … Read more
Amidst a stressful holiday season with inflation and cost of living being top of mind, consumers continue to remain cautious this year. This year’s annual report by QuickBooks titled “Holiday Shopping” found that consumers are pulling back on spending this year — shoppers are expected to spend $85 billion less versus last year, a 34 … Read more
From the current economic climate to the recent election results, consumers have a lot to be stressed about, and according to Rakuten, those feelings are showing up in shopping carts. Rakuten’s latest consumer survey, which aimed to identify key trends in consumer behavior as they continue to develop, found stress to be a key theme … Read more
China announced on Tuesday that two days will be added to the public holiday calendar next year, taking the total to 13. The move does not create new holidays but extends two existing ones, including Lunar New Year, the country’s biggest festival. 02:41 Millions flock to China’s main tourist attractions to celebrate National Day Millions … Read more
Major foreign investors in China have seen a tentative uptick in consumer spending, easier access to capital and an opening for deeper change after China’s wave of economic stimulus over the past month, overseas business organisations said. Some American retailers found Chinese customers spent more, while they also anticipated that it would be easier to … Read more
Fresh survey data on the home furnishings market from BigCommerce revealed consumer preferences for more sustainable products, a willingness to use new technologies and a demand for buy online, pick up in-store. The data also showed a strong preference for online shopping — especially for garnering ideas. “Despite the majority favoring in-store purchases, more respondents … Read more
Accenture’s latest read on consumer sentiment revealed some key trends as the holiday shopping season heats up. The firm said in its 18th annual Holiday Shopping Survey that consumers are cautiously optimistic as they plan to spend more than last year while seeking deals. Their focus is on price, value and bargains. The survey, which … Read more
