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
Umrah and Ziyarah Forum Concludes in Madinah with Landmark Achievements in Pilgrim Services7.4.2026 16:38:00 CEST | Press release
Under the generous patronage of His Royal Highness Prince Salman bin Sultan bin Abdulaziz, Governor of the Madinah Region, the third edition of the Umrah, Hajj, and Ziyarah Forum concluded its activities, marking a significant milestone in the Kingdom's mission to enhance the experience for the "Guests of Allah." This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407456369/en/ Umrah and Ziyarah Forum Concludes in Madinah with Landmark Achievements in Pilgrim Services (Photo: AETOSWire) The final harvest of the forum resulted in exceptional numbers and a massive turnout, with more than 50,000 visitors flocking to the accompanying exhibition, which attracted over 150 exhibitors from global and local companies across an area exceeding 11,000 square meters. To enrich the knowledge aspect, the three days of the forum featured more than 160 speakers and trainers who contributed to discussions across 25 main sessions and 40 workshop
Poland's Galaxy Systemy Informatyczne Becomes First Private Enterprise to Buy Quantum Computer from IQM7.4.2026 15:00:00 CEST | Press release
IQM will deliver and install the 54-qubit quantum computer at Galaxy in the fourth quarter of 2026. The deployment builds Galaxy’s quantum capabilities, supporting talent development and innovation across sectors, while reinforcing Poland’s growing quantum ecosystem. This will be another Radiance 54-qubit computer deployed this time in Poland by IQM, following installations at LRZ in Germany, VTT in Finland, CINECA in Italy, and CESGA in Spain, underscoring the company’s leading market position. IQM Quantum Computers, a global leader in superconducting quantum computing, today announced a commercial milestone to deploy a hybrid integrated quantum computer at GalaxySystemy Informatyczne Sp. z o.o., marking its first deployment in a private enterprise worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407351934/en/ IQM Radiance quantum computer Galaxy has been implementing innovations in security, digitisation, and h
Variational AI Releases Enki 4: Major Update to Foundation Model for Small-Molecule Drug Discovery7.4.2026 15:00:00 CEST | Press release
Variational AI introduces Enki™ 4: an improved algorithm and architecture designed to scale, expanding the pre-trained target coverage from 592 to 760 and now applicable to proximity-based therapeutics and novel payloads for antibody drug conjugates Variational AI today announced the release of Enki™ 4, a major update to its generative AI platform for small-molecule drug discovery. The release of the fourth generation of Enki™ delivers significant improvements in algorithmic performance and target coverage through platform architecture design, as well as extending its application to degraders, PROTACs, glues, and novel payload design for antibody drug conjugates (ADCs) and related modalities. “Enki 4 is a massive step forward for our platform,” said Ali Saberali, Co-Founder & Head of Platform at Variational AI. “We’ve re-architected Enki and improved the underlying algorithms to expand target and modality coverage, while operating faster to deliver even better performance for our partn
Textron Aviation Receives First Military Order for Cessna SkyCourier, Launching the Aircraft Into Global Defense Market7.4.2026 15:00:00 CEST | Press release
Belgium selects SkyCourier fleet to boost special operations airlift for troop transport, logistics, casevac and crisis response Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced Belgium has selected the Cessna SkyCourier as its newest special mission aircraft, awarding an order for five multirole aircraft to support the nation’s Special Operations Forces. The selection launches the SkyCourier into the global defense market for the first time and strengthens Belgium’s airlift capability through a rugged, flexible platform built for demanding missions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260309292194/en/ A new ally in the air: An artist’s rendering shows a Cessna SkyCourier configured for military operations, including a special operations paint scheme and mission equipment. The aircraft was selected by Belgium Special Operations Forces. Belgium’s SkyCourier fleet will enable rapid movement
Gurobi Defines Its Role as the Technology Behind Better Decisions in the AI Era7.4.2026 15:00:00 CEST | Press release
The decision intelligence leader emphasizes the critical partnership between AI-driven insights and optimized solutions. Gurobi Optimization, LLC, the leader in decision intelligence technology, today announced a renewed brand identity that reflects its role in empowering organizations to make better decisions in complex, high-stakes environments. As organizations increasingly rely on optimization to put their AI-driven insights into action, the Gurobi Optimizer is a foundational component of decision intelligence systems, where different approaches to AI—from prediction to optimization—work together to guide business outcomes. “AI has transformed how organizations generate insight, but insight alone does not drive outcomes—decisions do,” said Duke Perrucci, CEO, Gurobi. “We see optimization as the GPS for AI, enabling users to determine the best possible course of action in complex environments. Those decisions are what drive real outcomes, and we’re proud to be the technology behind
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