China has launched a market competition probe and assessment for its food delivery platforms, reports the South China Morning Post. Analysts said the move was an affirmation of the country’s determination to continue to combat self-defeating competition. “Recently, issues such as excessive subsidies, price wars and control over traffic flow in the online food delivery platform […]
Category: Consumer
A wave of international retailers have announced major store closures across China, including the likes of Ikea, Zara, Zara Home and Lane Crawford. As many big international brands are moving their China business online, shopping centre vacancies are on the rise, and rent prices are falling. The same is happening with office space across China’s […]
A sweeping crackdown on unauthorized drone use in China is shaking the consumer market, reports Caixin. Hobbyists are facing fines as drone makers are reporting a sharp decline in sales. On social media, users have been posting copies of administrative penalty notices issued by police for “illegal flights,” typically carrying fines between RMB 200-500 ($29-71). In […]
Ikea will close seven of its 41 stores in mainland China, reports the South China Morning Post. This comes as the furniture retailer grapples with the country’s weak property market and low consumer spending, which have dampened demand for its goods. Following a comprehensive review, Ikea China said the seven stores would cease operations from February 2. These are located in Shanghai, Guangzhou, Tianjin, […]
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Furniture falls
Ikea has announced it will close seven of its 41 stores across China as it looks to shift to small-format outlets catering to a more targeted market. The move comes amidst low consumer spending and a weak property market. Ikea as a brand is in many ways symbolic of the aspirations both of China’s middle […]