Insights from China: Millennials Travel Overseas for An Experience
With this inaugural report in our Insights from China series, we kick off a weekly series of updates in which Coresight Research analysts provide a weekly review of what’s happening in China – and what international brands and retailers need to know. We’ll cover areas such as policies, consumer behavior, consumer sentiment, government regulations and the competitive landscape – as they affect international companies selling to Chinese consumers or looking to enter the market.
This week, we look at how the changing nature of Chinese outbound tourism will affect retailers worldwide.
Chinese tourists are traveling more but spending less on shopping when they go. Younger tourists look for experience trips over shopping. We look at how Western retailers can attract and retain this valuable demographic.
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