In our conversation with Jacob, we talk about the consumption surge during China's Golden Week, which saw over 800 million domestic trips and more than $100 billion in spending. He highlights other booming sectors like travel, athleisure, and lifestyle, despite macro pressures on Chinese consumers. Jacob also talks about the rise of "special forces tourism" and predicts continued growth in off-the-beaten-path destinations. We also touch on the upcoming Singles Day and the relationship between real estate prices and consumption.
Topics Discussed and Key Points:
● Golden Week's impact on consumer trends
● Consumption recovery during Golden Week
● Increase in domestic trips and spending during Golden Week
● Weakness in sectors like large durable appliances and auto, but strong performance in personal consumption, travel, athleisure, and lifestyle
● The rise of "special forces tourism"
● Singles’ Day optimism
● Growth in health and wellness, athleisure, nutraceuticals, and pet products
What is The Negotiation?
Despite being the world’s most potent economic area, Asia can be one of the most challenging regions to navigate and manage well for foreign brands. However, plenty of positive stories exist and more are emerging every day as brands start to see success in engaging and deploying appropriate market growth strategies – with the help of specialists.
The Negotiation is an interview show that showcases those hard-to-find success stories and chats with the incredible leaders behind them, teasing out the nuances and digging into the details that can make market growth in APAC a winning proposition.