TENCENT-MARKETING
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
SK Capital Announces Definitive Agreement to Invest in Swixx BioPharma AG to Drive the Next Phase of Growth and Global Expansion15.12.2025 12:30:00 CET | Press release
SK Capital Partners, LP (“SK Capital”), a New York-based private investment firm focused on the life sciences, specialty materials, and ingredients sectors, today announced that its affiliate has reached an agreement to invest in Swixx BioPharma AG (“Swixx” or the “Company”) to accelerate the Company’s next phase of growth and global expansion. The investment values the Company in excess of EUR €1.5 billion. Swixx is the global leader in rest-of-world pharmaceutical commercialization services dedicated to delivering innovative, life-saving medications to underserved and hard-to-reach markets. Stuart Swanson and Petr Němec, Swixx’s Co-Founders, and Jean-Michel Lespinasse and Petr Pipal, Swixx’s CEO and CFO, respectively, will all retain significant ownership stakes in Swixx as part of the transaction. Existing institutional investors HBM Healthcare Investments, a Swiss-listed investment company for the global healthcare market, and Mérieux Equity Partners, a leading healthcare-specializ
Safe Software Recognized as a Niche Player in 2025 Gartner® Magic Quadrant™ for Data Integration Tools15.12.2025 12:00:00 CET | Press release
Safe Software named for the 6th consecutive time in Gartner® Magic Quadrant™ Safe Software, a global leader in data integration and transformation, has once again been recognized in the 2025 Gartner® Magic Quadrant™ for Data Integration Tools, marking the sixth consecutive year the company has been included in this prestigious report. Safe Software’s FME Platform has evolved well beyond its geospatial roots to become the only All-Data, Any-AI Integration Platform, empowering organizations worldwide to connect all data, applications, and AI technologies anywhere, at any scale, and with complete flexibility. With a community of more than 200,000 enthusiastic users and 25,000+ organizations in over 125 countries, FME continues to redefine data integration by delivering a no-code enterprise solution that unifies data movement, automation, and AI connectivity. “Our continued recognition reflects the trust of our customers and the innovation of our team,” said Don Murray, CEO and Co-Founder
GENESIS Pharma announces a new partnership with Otsuka Pharmaceutical Europe Ltd. for the commercialization of donidalorsen for hereditary angioedema in Central and Eastern Europe15.12.2025 10:00:00 CET | Press release
ANNOUNCEMENT FOR EUROPEAN MEDICAL & PHARMACEUTICAL TRADE MEDIA AND EUROPEAN FINANCIAL MEDIA ONLY GENESIS Pharma, a regional biopharma company focused on the commercialization of innovative medicines in Central and Eastern Europe, announces an exclusive agreementwithOtsuka Pharmaceutical Europe Ltd. (OPEL), the European operation of global healthcare company Otsuka Pharmaceutical Co., Ltd., for donidalorsen. Under the terms of the agreement, GENESIS Pharma will exclusively distribute and commercializedonidalorsen in fourteen markets: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia. In November 2025, the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion, recommending the granting of a marketing authorisation for donidalorsen in the routine prevention of recurrent attacks of hereditary angioedema (HAE) in adults and adolescents aged 12 years and older. The CHMP opinion is c
BitGo sikrer OCC-godkendelse til konvertering til føderalt chartret National Trust Bank13.12.2025 02:12:00 CET | Pressemeddelelse
Sætter ny standard for institutionel digital aktivinfrastruktur med samlet føderal tilsyn BitGo Holdings, Inc. (“BitGo”), virksomheden inden for digital aktivinfrastruktur, annoncerede i dag, at Office of the Comptroller of the Currency (“OCC”) godkendte virksomhedens ansøgning om at konvertere BitGo Trust Company, Inc., et trustselskab registreret i South Dakota, til en nationalbank ved navn BitGo Bank & Trust, National Association (N.A.). Med dagens OCC-godkendelse af konverteringen fungerer BitGos datterselskab af Trust Company nu som BitGo Bank & Trust, National Association (N.A.). BitGo Bank & Trust, N.A. vil operere under et enkelt, ensartet føderalt tilsynssystem, der gør det muligt at levere den klarhed, styring og reguleringssikkerhed, som institutioner forventer af et føderalt reguleret fiduciært selskab. Denne godkendelse styrker BitGos position som et institutionelt fundament for det moderne finansielle system, der kombinerer tilsyn på bankniveau med den sikkerhed, complian
FIA, Formula 1 Group and All 11 Race Teams Officially Sign the Ninth Concorde Agreement, Securing Strength and Stability for the Sport in Pivotal Five-Year Agreement12.12.2025 17:10:00 CET | Press release
Multi-year Concorde Governance Agreement signed by the FIA, Formula 1 Group and all 11 teams, securing the World Championship through 2030 Paves the way for a more professionalised sport and represents a new era of collaboration between the FIA and Formula 1 Group Long-term commitment enhances sporting reliability, global reach and stability for teams, fans and broadcasters The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, and Formula 1 Group, the Commercial Rights Holder, have today announced the signing of the Concorde Governance Agreement, a crucial contract defining the regulatory framework and governance terms of the FIA Formula One World Championship until 2030. This follows the announcement in March that the 2026 Commercial Concorde Agreement had been signed by all the teams and Formula 1 Group. Together, these agreements constitute the ninth Concorde Agreement, representing a m
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