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.
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
Alibaba’s shopping holiday has lost some of its oomph, but remains a potent force for many brands. That, plus what else to watch for in the coming week.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.