TOPIC

Consumers

Consumers
News about consumer spending and shifting shopping habits from around the world with a focus on developments in Hong Kong and mainland China.
Philippine Trade Secretary Cristina Aldeguer-Roque’s 500-peso budget tip for a family of four to spend on the coming Christmas Eve dinner has irked Filipinos as unrealistic. Photo: Facebook/DTISecretaryCrisRoque
The Philippines

Anger boils in Philippines over official’s US$8.50 Christmas feast budget

Critics call the Philippine trade chief’s 500-peso Noche Buena price guide for a family of four a ‘fantasy’ that insults the poor.

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Hong Kong economy

Editorial | Hong Kong’s October retail sales figures underline need for change

Mainland China

Chinese consumer and tourism firms turn to shareholder perks to stimulate sales

Electric & new energy vehicles

Tesla’s China plant sees shipment surge ahead of subsidy expiry

However, the rebound may not be sufficient to help the company reclaim lost ground in China, an analyst says.

A Tesla logo seen on a Model 3 electric car. Photo: AFP
China consumption

China delivers record 180 billion parcels in 11 months as shoppers chase deals

Express deliveries have reached as high as 777 million per day in 2025 as China’s consumers turn to cut-price online platforms.

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China manufacturing

Germany’s China playbook: if you can’t beat them, partner up

More than half of surveyed German firms plan deeper ties with local partners in China to match the rapid innovation cycles of domestic competitors, the German Chamber of Commerce has found.

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China consumption

Pursuit of hoppiness: how China’s cash-conscious drinkers embraced craft beers

As discerning alcohol consumers seek ‘wallet-friendly’ products, premium beers are winning out over higher-end options.

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Illustration: Henry Wong
Electric & new energy vehicles

China’s EV makers post stellar sales before incentives are phased out next year

Leapmotor leads the pack with record sales for a seventh month in a row, while Voyah and Zeekr put on a strong performance.

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China economy

Opinion | How China could solve its consumption conundrum

Beijing’s priority should be bold short-term countercyclical action: issuing US$400 vouchers and stabilising the property sector.

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Electric & new energy vehicles

Chinese EV makers step on gas abroad amid weakening mainland sales

A growing export drive by Chinese EV makers aims to soak up overcapacity and secure better profits as incentives fade.

Leapmotor announced this week that two of its models would make their debuts in Brazil and Chile. Photo: Handout
China manufacturing

Price wars and tariffs: China’s industrial profits snap winning streak

Beijing to crack down on ‘disorderly’ market practices amid rising financial costs, while analysts point to excess capacity eating into corporate margins.

In October, China’s industrial profits fell 5.5 per cent from a year prior. Photo: AFP
Mergers & Acquisitions

China’s Anta considers bid for Germany’s Puma amid 62% stock slump: sources

Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma and could team up with a private equity firm, sources said.

Hong Kong economy

Opinion | Why this is not just another retail downturn for Hong Kong

When even Link Reit, the city’s largest retail landlord, is cutting dividends, the downturn looks less like a dip than a shift.

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Japan

Japan’s populist debt-fuelled spending plan alarms economists

With the yen already weak, experts fear the massive borrowing scheme will drive up import costs for everything from food to fuel.

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A man looks at a board displaying stock prices on the Tokyo Stock Exchange last month. Photo: AFP
China consumption

After peaking, decline of China’s European wine imports worries makers

Chinese drinkers are spending less amid an economic slowdown, diluting the profits of Europe’s fine wine producers.

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Illustration: Brian Wang
South Korea

Kimchi deficit: South Korea faces pickle as Chinese imports outpace exports

Higher cabbage prices have sent many restaurants to lower-cost imports, leaving South Korea with a kimchi trade deficit of US$22.07 million.

Hong Kong company reporting season

Hong Kong beverage giant Vitasoy’s revenue dips 6% as mainland China sales slow

Maker of tea drinks and soy milk says consumption potential is strong despite intensifying competition in mainland China.

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China consumption

China’s liquor capital faces long march to rebirth as ‘liquid gold’ glory wanes

In Maotai town, baijiu producers diversify offerings while expanding to markets such as Hong Kong and Southeast Asia amid a culture shift and economic challenges.

Illustration: Brian Wang
China jobs

Youth unfulfilled: job opportunities in China’s senior-care sector go untapped

Amid booming opportunities in the care economy as China’s population gets older, new graduates express concerns over low wages and unfamiliarity with the field.

China economy

Rising down jacket sales offer cushion against deflation in mainland China

Bosideng and other retailers expect winter wear sales to boom for three more months, buoyed by strong demand for high-end products.

China travel

Snowcapped prosperity: China’s winter sports market glides upwards

Growing participation and government support are fuelling innovation in equipment, expanding domestic resorts, and creating new jobs in China’s ice and snow economy.

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Team China freestyle skier Wang Xindi trains in Arxan, Inner Mongolia autonomous region, on November 6. Photo: Xinhua
South Korea

Apple of their eye: why South Korea’s Gen Z want American brands

A recent poll found most South Koreans in their twenties used an iPhone. The US is still seen as aspirational, despite recent frictions.

A woman looks at an Apple iPhone at a shop in Seoul. Photo: AFP
Japan

Japanese consumers fear curbs on eel delicacy ahead of global wildlife forum

The endangered eel will be discussed at the forum that regulates the trade of threatened wildlife in Uzbekistan next week.

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Japan

What is oshikatsu? Nearly 50% of Japan’s young workers seek trend for fulfilment

A new survey shows the once-niche fandom culture has entered the mainstream, shaping how young Japanese workers spend their time and money.

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United States

Pop Mart’s Labubu balloons to debut at Macy’s Thanksgiving Parade in New York

A brown Labubu and a pink Mokoko will appear alongside characters such as Skullpanda, Dimoo and Molly on the toymaker’s Pop City float.

A Thanksgiving Day float featuring Pop Mart’s Labubu, right, and Mokoko are displayed during a press preview of the new floats at Macy’s Parade Studio in Moonachie, New Jersey, on Tuesday. Photo: AP
Fashion

How did Kim Kardashian’s Skims become a US$5 billion brand?

The shapewear and athleisure brand founded by Kardashian has been valued in the billions after a recent round of fundraising led by Goldman Sachs Alternatives in the US.

Kim Kardashian at the Skims Swim Miami pop-up shop in March 2022. Photo: Getty Images for ABA
International Property

Hong Kong’s Tsim Sha Tsui holds ground as world’s fourth priciest shopping strip

The city’s core retail areas, including Causeway Bay and Central, dominate the Asia-Pacific regional table: Cushman & Wakefield.

Banking & finance

Hong Kong lenders tread carefully amid mixed recovery signs: TransUnion

Retail sales are picking up, but unemployment remains high, prompting lenders to adopt a cautious easing, TransUnion’s Hong Kong CEO says.

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