TENCENT-MARKETING
25.9.2020 12:23:16 CEST | Business Wire | Press release
Since early 2020 when the COVID-19 pandemic broke out worldwide, the luxury market has been hit hard and is expected to decline 25% to 45% compared to the previous year. The Chinese luxury market, however, which has benefitted from successful domestic control of the pandemic and has taken the lead in recovery against a depressed global market environment, is forecast to grow from 20% to 30% in the whole year of 2020. Thanks to its stunning market performance, China has become the main battleground of each major luxury brand. In was in this environment that Boston Consulting Group (BCG) joined hands with Tencent Marketing Insight (TMI) to release the 2020 BCG x Tencent Digital Luxury Report , drawing on deep insights into post COVID-19 trends in the luxury market and consumers based on BCG and TMI’s quantitative consumer research and industry experience, as well as TMI’s marketing and big data capabilities.
Crystal Hao, Managing Director & Partner of BCG said, “The luxury market in China was the first to recover from the impact of COVID-19, and is seeing an increasing rebound in local consumption and online channel adoption. The share of pure online purchases has increased to 30%, indicating a shift towards an omni-channel journey. In the post-COVID era, luxury brands need to re-consider the key characteristics of Chinese consumers, think about how to better leverage digitalization enablers to understand and cater to consumers’ needs, and develop a truly omni-channel shopping experience that takes into account both service and experience.”
Hati Lin, Deputy General Manager of Vertical Sales & Operations Department, Tencent Marketing Solution , said, “The digital wave is accelerating the transformation of the luxury industry. Tencent Marketing Solution is committed to breaking the boundaries of conventional marketing and creating a better user experience with innovative marketing and user operation across the omnichannel and full-chain; at the same time, based on its in-depth insights into the local market, Tencent will also provide strategic guidance and practical solutions that are more scientific and valuable for brand operations, helping the industry seize new opportunities and embrace the digital future.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20200925005169/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AMINA Becomes First Regulated Bank on 21X, Europe’s First Fully Regulated DLT Trading and Settlement Venue9.3.2026 08:30:00 CET | Press release
Along with Tokeny, the combined tokenisation suite creates a complete tokenisation infrastructure, from regulated custody to onchain trading and settlement AMINA Bank AG (“AMINA”), a Swiss Financial Market Supervisory Authority (FINMA)-regulated crypto bank with global reach, today announces it has become a listing sponsor on 21X, the first fully regulated distributed ledger technology trading and settlement system (DLT TSS) in the European Union. AMINA is the first regulated bank to join the 21X ecosystem as a listing sponsor. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260309758719/en/ AMINA, 21X and Tokeny partner for end-to-end solution Combined with AMINA’s existing collaboration with Tokeny for onchain asset issuance, the partnership creates a complete tokenisation infrastructure that addresses a major constraint of institutional adoption: the absence of an end-to-end pathway connecting regulated traditional asset c
GigaDevice Strengthens Global Presence at Embedded World 2026, Showcasing System-Level Innovations for Humanoid Robotics, Industry, and Edge AI9.3.2026 08:00:00 CET | Press release
Wide range of demonstrations on display at Hall 5, 5-129 throughout the March 10-12 show GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, today announced its participation at Embedded World 2026 (Hall 5, Booth 5-129), with the strong presence at the show demonstrating the company’s commitment to the global market and the strategic emphasis that it has placed on the EMEA region, reinforcing its ambition to empower customers with advanced embedded solutions. “Embedded World is a cornerstone of our global engagement strategy,” said Dr. Reiner Jumpertz, GigaDevice VP and General Manager in the EMEA region. “This year, we are not only showcasing our technical excellence but also highlighting our evolution into a system-level enabler, a trusted partner that supports customers in building smarter, more connected applications.” “By combining our high-performance GD32 MCUs, industry-proven Flash memory, and a
Galderma Introduces Cetaphil AM/PM Antioxidant Serums, a New Science-Driven Defense and Recovery System for Sensitive Skin9.3.2026 07:00:00 CET | Press release
Cetaphil’s new AM/PM Serums are powered by unique Gallic-AOX Power™ Technology, a patent-pending antioxidant complex clinically designed to sync to your skin’s circadian rhythm and support skin resilience Delivers advanced antioxidant protection by day1 and accelerated repair by night, with visible results in as little as 7 days2 In global testing, Gallic Acid demonstrated 2x greater antioxidant efficacy than Vitamin C3 Co-developed with dermatologists and rigorously tested for sensitive skin to deliver high performance without compromising tolerance Galderma (SIX: GALD) today announced Cetaphil, the dermatologist-recommended brand trusted by millions with sensitive skin, is launching its new Cetaphil AM/PM Antioxidant Serums, a breakthrough daily system clinically designed to defend skin by day and support accelerated repair by night for sensitive, stressed skin. While antioxidant serums are a cornerstone of modern skincare, the category has largely been developed without sensitive sk
Report: GCs Say They Are Bullish on Europe9.3.2026 07:00:00 CET | Press release
ADVANT research underscores opportunity amid political and economic headwinds, but challenges remain Business confidence around prospects for investment and growth in Europe is riding high despite recent economic and geopolitical challenges, according to new research among GCs across Europe and the U.S. For its report released today – Europe’s Opportunity Outlook – European law firm association ADVANT surveyed or interviewed more than 800 GCs in France, Germany, Italy and the United States, and found thatfour out of five (82%) GCs said their company views continental Europe as attractive for corporate investment and commercial growth. Meanwhile, two-thirds (66%) report their organization has made Europe more of a priority in light of recent geopolitical and regulatory risks. Looking further ahead, a significant majority (83%) believe their organization is likely or very likely to expand or invest further within existing European markets in the next three to five years. A similar propor
Xsolla Celebrates International Women’s Day by Spotlighting Women in Games and Advancing Its Vision for Female Leadership8.3.2026 14:00:00 CET | Press release
Accelerating Representation, Influence, And Leadership For Women Across The Gaming Industry Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today reaffirmed its ongoing commitment to supporting women across the global gaming ecosystem through curated community initiatives, industry events, and thought leadership platforms in key growth markets, including Türkiye, Dubai, and Cyprus. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260308595758/en/ Graphic: Xsolla As the gaming industry continues to expand across emerging and high-growth markets, Xsolla is focused on empowering developers globally, including fostering a more inclusive ecosystem that gives women founders, studio leaders, publishers, and entrepreneurs greater access to visibility, networks, and opportunities. Through a series of targeted industry gatherings and community-led discussions, Xsolla has activel
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom