I’m always glad to discuss consumption trends, regulations and competitive landscape in China. This was the subject of a webinar hosted by HSBC and it was a great pleasure to speak with Magnus Grimeland, founder and CEO of Antler.
In this video, I briefly explain the impact of the pandemic and health measures as well as other recent regulation on Chinese consumption, from the disruption of the supply chain to the purchasing power of consumers. The sales of the brands I support were still down between 5% to 20% in the first quarter of 2022, depending on the category.
My business with Full Jet is one of my observation points.
Some categories, however, such as outdoor, fine jewellery and small appliances, have grown. Consumers are increasingly cautious about their spending, especially the younger generation who never experienced an economic downturn before the pandemic. The return to normal is not yet in sight : the impact of Covid could last until 2024 or beyond.
#China #Consumption #Pandemic #Market