China was the first country hit by Covid-19… and the first to emerge from this crisis. How is consumption doing? How are citizens behaving? What lessons can be extrapolated to the French situation? All these points were discussed during the Beauty Business organized by the WEG and broadcasted on March 4, 2021.
Promise Consulting conducted a survey in China in the fourth quarter.
And the results reveal a certain optimism on the part of the Chinese.
The panel interviewed said they were planning:
• To go out on the town (63%)
• To eat out (67%)
• To visit museums (51%)
• To shop in malls (67%)
• To purchases cosmetic (60%)
• To travel abroad (44%)
• To travel inside the country (51%)
The panel had also spoken on these same issues during the third quarter of 2020. In three months, all indicators have increased, with increases ranging from 3% to 9% depending on the theme.
The new contours of the Chinese economy
Phillipe Jourdan, head of Promise Consulting, explains that the Chinese recovery was not only analyzed through the prism of the panel’s responses, but also through the financial data present in the Chinese market and other indicators such as public transportation ridership.
We have seen a perfect correlation between the return of citizens to the metro and the recovery of economic life. We also see that the fact that people can walk around again, go to restaurants or gather with friends has a direct effect on consumption. It is …
