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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.
People walk by shop windows decorated for Christmas in New York on December 5. Photo: dpa
United States

Outside In | It’s an expensive Christmas for Americans thanks to Trump’s tariffs

It’s been years since the US president extolled the virtues of trade wars: how much longer before he recognises tariffs harm the US economy?

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Singapore

As more department stores in Singapore struggle, can they adapt and survive?

Hong Kong economy

Opinion | How Hong Kong became the trusted bridgehead for China firms going out

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China economy

China’s cautious shoppers continue to challenge consumer brands

Makers of fast-moving goods must look to lower-tier cities for growth as deflation persists, Bain & Co and Kantar Worldpanel say.

A woman shops in a supermarket in Beijing on December 8, 2025. Photo: EPA
Hong Kong property

Schiaparelli picks Hong Kong’s Landmark for first flagship Asian store

The fashion house, which is known for its unique and surreal designs, will open its boutique in Hong Kong January.

Electric & new energy vehicles

BYD founder bets on new tech to win back customers as sales decelerate

Company is pinning its hopes on a 12,000-strong R&D team to come up with technological breakthroughs.

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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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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
Hong Kong economy

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

The data suggests sales didn’t keep up with increased tourism. Retailers must do more to adapt to visitors’ new spending preferences.

Mainland China

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

Companies from Sichuan to Anhui offer discounts and free tickets to shareholders amid slowing consumption in mainland China.

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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Parcels are piled up near an apartment building in Beijing during the Singles’ Day shopping festival in November 2020. China’s consumers continue to turn to e-commerce platforms to find cut-price deals. Photo: AP
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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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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Voyah’s monthly sales rose for a fourth straight month, with deliveries rising 16.2 per cent month on month to 20,005 vehicles. Photo: Xinhua
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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People shop at a supermarket in Zaozhuang city, in Shandong province, on August 9. Photo: Xinhua
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.

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.

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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.

The Pinault family’s Artemis holding company owned 29 per cent of Puma at the end of last year. Photo: Reuters
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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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.

Freshly prepared kimchi is seen next to brined cabbage (right) during a kimchi-making festival at Garak Market in Seoul on November 17. Consumers from Japan to North America have embraced kimchi as a premium and increasingly health-focused product. Photo: AFP
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.

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.

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.

An elderly person chats with a staff worker at an aged-care service centre in China’s Hainan province last month. Photo: Xinhua
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.

A Bosideng outlet in Shanghai. The company is China’s largest down jacket maker. Photo: CFOTO/Future Publishing via Getty Images
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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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.

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