Jing Daily’s Top 5 Super-Duper Items for 2021
Let’s play a little game. It’s the end of the year, so why not have some fun? 2021 has been a roller coaster for global luxury in China. Needless to say, it has been a very busy year at Daily Jing, covering everything. Below are Daily Jing Top five articles for 2021. All you have to do is choose the most read. Sounds easy enough, that is, if your ideas on what makes the Chinese luxury market work are up to the task. You may or may not be surprised by the winner. Anyway, good luck and thank you for allowing us to be a part of your daily media consumption for another year. To learn more about our 2021 end-of-year reviews, read here.
A – If Evergrande fails, he takes global luxury brands with him
Evergrande, which was behind much of China’s real estate boom, now finds itself astride a staggering $ 300 billion in debt from decades of rampant expansion. Will Beijing come to the rescue? If not, will Evergrande’s slide into bankruptcy – or worse – cause some kind of financial panic? Given this difficult situation, how should global luxury brands forecast a potential shock to the Chinese economy in early 2022? Read more
B – The birth of Chinese cultural opinion leaders
Best Fashion Blog Highsnobiety published a white paper on influencer marketing and digital commerce changes in China. According to the report, a new generation of trend-setters are at the forefront of the latest digital trends. These young influencers, called Cultural Opinion Leaders (COLS) have hard-earned core values and beliefs that set them apart from previous generations. And now they are winning legions of fans in China. Read more
C – How an independent luxury brand conquered the Chinese market
Direct-to-consumer businesses have become a disruptive phenomenon over the past decade, but they have not grown in China. But as the country begins to familiarize itself with DTC concepts, DTC brands like the American luxury leather brand Senreve have entered the market and have met with impressive success along the way. This begs the question: how did they do it? Read more
D – Where are luxury brands going after the Kris Wu and Zhang Zhehan scandals?
Two prominent celebrities, Chinese pop star Kris Wu and actor Zhang Zhehan, recently displayed controversial behavior, shocking Asia and the luxury brands associated with them. While brands like Louis Vuitton and Porsche quickly terminated their contracts with these stars, that doesn’t mean they’ve dropped out. What should they do next to reconnect with their female fans? Read more
E – Presentation of the best virtual idols of China: Ayayi and Luo Tianyi
As of early 2021, Hangzhou-based beauty giant C Florasis, national hair care brand Centaine and Chinese jewelry maker IDO have all appointed a virtual KOL to target young local consumers. Today, the virtual idol market is worth over $ 540 million. Jing Daily researched whether a new era of AI idols is on the way and how these virtual influencers can benefit brands. Read more