The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The country will be the first to hit the milestone, according to a new eMarketer report, which forecasts that over 52 percent of China’s sales will take place online in 2021, up from almost 45 percent in 2020.
Other economies — even those with sophisticated digital landscapes — lag behind. In South Korea, the country with the next highest rate of e-commerce against overall sales, just under 30 percent of transactions are predicated to take place online this year. The US is expected to see just 15 percent, with China likely to outpace it by $2 trillion in e-commerce by the end of 2021. eMarketer pegged the average among Western European economies at around 13 percent.
Chinese celebrities made a comeback at the European shows this season, but the brands hosting them see the country’s A-listers as more high-risk, high-reward than ever amid fresh scandals and tightening government regulation.
Owners of international brands like Lanvin and Carven faced challenges in their home market under ‘zero-Covid’ rules but China’s economic recovery is now on the horizon.
Critics say they are dystopian, but ‘flawless’ virtual influencers may be worth considering in a market where celebrity brand ambassadors have become an increasingly risky investment.
Mainland shoppers have flocked to local tourism hubs like Macau and Hainan over Chinese New Year and are expected to visit Asian destinations like Thailand and Singapore before returning in droves to European fashion capitals later this year.