As China emerges from the pandemic, a new wave of younger and more digital-savvy mainland tourists is making its way to Italy, bringing with it a distinct appetite for luxury shopping and a higher spending capacity than ever before. According to Global Blue's 2024 survey, 81% of Chinese shoppers plan to visit Europe in the coming months, with China-Europe air travel capacity expected to reach 85% of pre-pandemic levels during this summer and fall. The number of Chinese passengers arriving in Italy has already surpassed pre-pandemic levels, recovering 111% compared to June 2019. Local social media apps are also driving up Italy's online buzz across China, with areas like Capri attracting travelers seeking tranquility away from city life. How can brands seize the opportunity? https://lnkd.in/dTFmqHuT
Jing Daily
Technology, Information and Media
New York, New York 21,986 followers
Decoding the most important trends shaping China and global luxury markets of today.
About us
Launched in 2009, Jing Daily is the leading authority for daily news and analysis on luxury consumer culture in the China market. Based in Manhattan, New York, Jing Daily's team is formed on a global scale coming from eclectic backgrounds. Our professional insights have led to partnerships with Gucci, Tiffany & Co. and other prominent luxury players. We also work closely with press titles such as the New York Times, BBC, Business of Fashion, Harper’s Bazaar and Forbes. 创办于2009年, Jing Daily精奢是奢侈品消费者文化在中国的新闻及分析方面的权威媒体。总部位于纽约曼哈顿,Jing Daily精奢团队拥有来自全球不同的语言和文化背景的专业人士。我们的对中国市场流行趋势的专业解读吸引了不少合作者,例如Gucci, Tiffany &Co. 以及其他奢侈品行业的领军品牌。 与此同时,我们的其他合作者包括了the New York Times, BBC, Business of Fashion, Harper’s Bazaar 以及 Forbes等诸多主流媒体。
- Website
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http://www.jingdaily.com
External link for Jing Daily
- Industry
- Technology, Information and Media
- Company size
- 11-50 employees
- Headquarters
- New York, New York
- Type
- Privately Held
- Founded
- 2009
- Specialties
- China, Business, Luxury, Automobile, Lifestyle, Design, Chinese, Fashion, Travel, Web 3, Metaverse, Collabs, Jing Meta, Finance, Culture and Crypto, C-Beauty, China Consumer, and China research
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Primary
135 Madison Ave
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New York, New York 10016, US
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Beijing
Beijing, CN
Employees at Jing Daily
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Daniel André Langer
CEO Équité | Top 5 Global Luxury Leader | Pepperdine NYU Luxury Professor & Keynote Speaker | Bestselling Author | Featured in Forbes, Economist…
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Avery Booker
Co-Founder & Head of Data at Jing Daily
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Xiaofeng Gu
Global Chinese Consumer Strategy and Insights | President, Jing Intelligence | Founder, Kollective Influence
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Crystal Tai
Author, Trend Forecaster, Senior Managing Editor at Jing Daily
Updates
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China has long been a powerhouse in the global luxury goods sector. Despite recent market volatility, luxury brands are ramping up investments and marketing efforts to maintain their foothold across the mainland. Our latest article explores two pivotal trends gaining traction across China, with insights from industry leaders from Tencent and Boston Consulting Group (BCG). Read more on what opportunities these trends present here:
How Overseas Shopping and Cross-Category Competition are Revitalizing China's Luxury Market
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There's a new booming wellness trend making waves across China. Outdoor sports like surfing, frisbee, and stand-up paddleboarding (SUP) are gaining popularity among the mainland's younger demographic, falling in line with the country's burgeoning beach culture and growing acceptance of tanning. Industry experts are already predicting China’s water sports sector will unlock significant potential. According to new data, the arena is poised for impressive growth, with the market expected to reach $859 million by 2027. What's the opportunity for luxury? https://lnkd.in/ez335A8F
Sun, surf, and style: brands ride China's new water sports wave
jingdaily.com
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By 2030, China’s light medical beauty market is projected to reach $57 billion (415.7 billion RMB), nearly twice the size of the surgical medical aesthetics market. The term “light medical beauty” (轻医美) refers to non-invasive or minimally invasive treatments, including advanced products and instruments aimed at tackling anti-aging and specific skin issues. A sector previously tainted by scant regulations, illegal clinics, and numerous medical accidents, today, the trend is rapidly becoming a staple in the beauty routines of an increasing number of urban Chinese consumers, including both women and men. What's driving the market's appeal? https://lnkd.in/eupTNVmz
Transforming skincare: The rise of light medical beauty in China
jingdaily.com
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✈ China is witnessing a significant uptick in both domestic and international travel this summer. Recent data from TravelSky Technology Limited reveals a 23% increase in domestic flight bookings and a staggering 93% rise in international travel year on year. In response to soaring demand, several airlines are strategically increasing their operations. But where are Chinese tourists going? From popular international hotspots to the increasing allure of the Middle East, we explore the current top travel destinations here: https://lnkd.in/e_j7dt7c
Chinese outbound travel boom: New hotspots, spending trends
jingdaily.com
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Launched in mainland China in 2020, then expanding to Japan and South Korea in 2023 and Taiwan and Hong Kong in 2024, L'Oréal's Big Bang Beauty Tech Innovation Program is betting big on beauty innovation and investment across North Asia. While fostering disruptive beauty solutions in partnership with startups and SMEs, the conglomerate’s latest initiative aims to bring the unique landscapes of C-J-K Beauty (China-Japan-South Korea) to the forefront of consumer and business interest. This holistic beauty ecosystem is being developed via a multi-pronged approach; from L’Oreal’s Green Sciences division to phygital interactions and generative #AI. And it’s working. Since being piloted in 2020, over 2,000 participants have taken part in Big Bang across North Asia. Can the company transform North Asia into a beauty tech powerhouse? https://lnkd.in/eGhb6CNU
L’Oréal Big Bang spurs open innovation to form North Asia as beauty tech powerhouse
jingdaily.com
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They may be relatively new to the workplace and the consumer market, but China’s Gen Z citizens, also referred to as the “post-2000” generation – or individuals born after 2000 — have already proven elusive to pin down. According to new data from Zhaopin.com, Gen Z consumption patterns in China are significantly shaped by impulsivity, with 49.1% of younger shoppers increasing their spending to “live in the moment”. However, the study also reveals a contrasting trend towards rational consumption, indicating a cautious approach to purchasing. Can brands hit a sweet spot between the cohort's desire for instant enjoyment and their growing value discernment? https://lnkd.in/eY-PAkD3
Gen Z’s spending patterns a mixed blessing for luxury brands in China
jingdaily.com
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A number of luxury brands have implemented significant price increases in #China this year, as part of a strategy to fight inflation, maintain brand value, and maximize profits. But it's not just fashion retailers raising prices; hikes have also extended into the beauty and hard luxury segments, following the rising cost of materials and muted financial turnarounds. With some brands having upped their prices by 20% in the first half of 2024, are these adjustments damaging consumer demand, or reinforcing brand prestige? We explore here: https://lnkd.in/ef55VvQu
Luxury price hikes in China: Strategic or risky?
jingdaily.com
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According to new data from FINN Partners and ILTM Asia Pacific, affluent Chinese women are at the forefront of luxury travel’s evolution, outspending their male counterparts significantly in some industries. This new generation of wealthy female spenders, however, are seeking far more than shopping or selfies, with many preferring experiences over material goods. With the demographic driving new trends that are reshaping the industry, what does it mean for brands? We break down the data and the opportunity for retailers here. https://lnkd.in/e9XZqkPu
How affluent Chinese women are shaping the future of luxury travel
jingdaily.com
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Amid a global luxury market slowdown, Burberry is feeling the pinch. Earlier this week, the maison announced its plans to launch a 45-day consultation that is likely to result in significant job cuts, predominantly impacting the brand's UK offices. The news comes as no surprise, given the brand's recent restructuring and reported 4% YoY revenue drop for the fiscal year ending March 30, 2024, with adjusted operating profit plummeting 25%. Will its latest turnaround strategy bear fruit?
Burberry eyes job cuts as China profit slumps
jingdaily.com