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Major Chinese duty-free retailers said offshore duty-free shopping in Hainan province, a top vacation destination, has become key to boosting consumption upgrade in China, with the duty-free sector playing a significant role in supporting the backflow of international spending into Hainan.
A stream of Chinese listed firms in the A-share market have reported growing momentum in the first two months of the year, kicking off a good start to the full year, as hopes that the country's economy will steadily rebound and the business environment will continue to improve are strengthening in the market.
The evolution of consumption in China has created both great opportunities and challenges for time-honored — or heritage — brands, which are known as laozihao in Chinese.
This month we present you with reports on the travel retail markets in China and Korea, and also features on the Inflight, Food & Confectionery, and Wine sectors.
The offshore duty-free shopping market in Hainan province has continued to embrace a rosy sales performance following the approaching winter tourist season and the optimization of COVID-19 prevention and control measures.