Chinese character Win

Shopper Bonanza

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When the result of Brexit vote was broadcasted, my WeChat popped out several messages from Shanghai: “UK decided out off Europe, what’s going to happen to the Chinese?”

When the result of Brexit vote was broadcasted, my WeChat popped out several messages from Shanghai: “UK decided out off Europe, what’s going to happen to the Chinese?”

 

“What is it likely if we are going shopping”…. People there are only interested in the values of their shopping British brands. Is it going to be cheap or be expensive? Minutes later afterwards, pound fell.

Apart from the plush high street retailers the big British brands opt in China, Shoppers in China do a lot online shopping. From the biggest Chinese online platform Alibaba (the Chinese equivalent to Ebay), they can buy thousands and thousands of consumer goods, millions of Alibaba’s online retailers (or small vendors) act as agencies to sell the British goods to Chinese. Those middlemen take handsome cuts for their labours. On Alibaba, you can find the stuff from M&S, Asos, Top Shop, Neal’s Yard… I was once shown some stuff, supposed to be British, which I have not come across in the UK.

The Chinese online shoppers are urban, relatively younger and audacious to go for anything foreign if it is a big attraction. The Chinese have to pay hefty import and consumption tax for the imports, but the scene is gradually easing in the recent years. However, the demand is still there. Some of the UK retailers have liaised with Alibaba, the products which bear their name can be sold directly to the consumers there, this can ensure the authenticity of the goods, a nice way to protect the brands.

Last year, the revenue on the Single’s day (Nov 11th 2015) for Alibaba was US$14.3bn, shoppers went crazy, it finished at US$170bn this year. Plenty of retailers (online middlemen) took the advantage and worked overnight at this Chinese black Friday then high-fived toast after the following dawn. .

More flights more opportunities

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With more Chinese students in the UK universities and British schools set campuses in China, more flights are scheduled. It reached one hundred flights in Oct.

With more Chinese students in the UK universities and British schools set campuses in China, more flights are scheduled. It reached one hundred flights in Oct.

Apparently the pound now is 30% down the value in exchange since July, more Chinese took advantage for  shopping trips in the UK to get anything genuine made in UK. Shoppers tend to do homework before their departure. They map out the shopping stops en route their sightseeing. Somewhere like Bicester is a must, Oxford and Bond street are the ones absolute not missed out.

Harrods has seen the sale bumped up recent years, not to forget mention those shoppers from China, they make quick decisions and not to lose out their ‘bargain hunts’. Some shops saw the Chinese leaving with several same items, stocks are cleared and everyone’s happy.

Brands definitely are major turn on. With time, the Chinese consumers are getting more sophisticated, they choose the items more to their own tastes, not to be driven blindly by the brands temptation. This trend offer opportunities for more businesses.

The other day, a friend showed me a bone china cake stand, with pretty floral pattern, it looks very English certainly. She said she discovered it at a family shop in the small alley way, she likes it so much and bought three, similar pattern but in different colours. She carried them as hand luggage. The shop must be smiling.

It looks more flights bring more opportunities for the holiday makers and the business.

 

To Go

picture of bank notes - shopping in Shanghai

Mao on the notes

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When I came to England, I often got caught out to answer the queries from my tutors and fellow students. Once on my dentist coach, my dentist suddenly quizzed ‘how do you think of Mao?’, when I was looking up the ceiling with mouth widely open. I am not of the generation who put political events robbed away their youth. I didn’t satisfy people’s curiosity over the analysis about Mao.

When I came to England, I often got caught out to answer the queries from my tutors and fellow students. Once on my dentist coach, my dentist suddenly quizzed ‘how do you think of Mao?’, when I was looking up the ceiling with mouth widely open. I am not of the generation who put political events robbed away their youth. I didn’t satisfy people’s curiosity over the analysis about Mao.

On the other hand, it is a complicated subject to discuss Mao, in an objective way. Mao was in the conversation then, his images have been on the Chinese bank notes ever since. Chinese economy was rapidly becoming the ‘World workshop’. The currency of Chinese yuan is thirteen-ish to one pound. In the peak, one pound reached a value of 16 yuan.

How time changes, fast forward Chinese economy has superseded the UK, Germany, Japan, it sits at the second row on the global GDP wealth table now. So, where is the value of Chinese currency? A couple of years ago, a pound could get ten yuan or a bit more; then post Brexit, a pound is now roughly 8.7 yuan. Apparently, one pound has halved the value that it was.

It may appear that your money does not go as far as it did. On the other hand, it presents great opportunity for export. With pound tumbling, UK export can sell more to the market.

The Chinese are craving for luxury goods and sophisticated service, this is a new age for anyone who embarks a path to empower businesses. Today, major businesses have established their presence in China, there is still plenty of room for the new start ups or SMEs, this is the market you cannot ignore when you want to survive and grow, especially anything luxurious.