China’s Luxury Consumption Landscape in 2023 with Jing Zhang

In this episode of The Negotiation, we’re thrilled to feature Jing Zhang, a renowned fashion journalist and consultant. Jing currently serves as the Global Editor in Chief of Jing Daily, the leading publication on luxury and fashion trends in China.

The health of the Chinese consumer has been hotly debated throughout 2023—conflicting market signals have given oxygen to bulls and bears alike. On one hand, luxury spending is up, but pressures on the housing market have led to increased savings and less spending on large durables. So what’s really going on, and how can brands adapt?

In this episode, Jing brings her expert insights to the table to shed light on the priorities of Chinese consumers in this new landscape.

Our conversation touches on many topics, beginning with Jing’s unexpected journey into fashion journalism. Jing then shares her assessment of Chinese consumer confidence and how consumer preferences have shifted. We also explore the rise of domestic beauty brands, the gradual recovery of the tourism industry, and the impact of mental health on Chinese consumer trends. Jing offers her insights into the Chinese fashion industry, the repercussions of the pandemic, and the evolving nature of Chinese consumerism.

This episode is a must-listen for anyone interested in understanding Chinese lifestyle and consumer trends.

Topics discussed in this interview:

  • Chinese consumer confidence in 2023
  • Factors influencing consumer confidence
  • Winners and losers in China’s luxury market for 2023
  • Spending and lifestyle trends among young consumers
  • The effect of mental health on young consumers
  • The emergence of domestic brands and designers
  • The pandemic’s impact on luxury brands and tourism
  • Comparing e-commerce and offline channels in luxury spending
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