The Europeans, especially the Belgians and the Swiss, bring China the ideal gift for the wealthy: chocolate. Shanghai’s World Chocolate Wonderland showcases. Fine chocolate is high on the agenda of affluent shoppers, tells business analyst Shaun Rein in the Financial Times.
The Financial Times:
China’s increasingly affluent consumers are boosting spending on fine chocolates, says Shaun Rein, author of The End of Cheap China: Economic and Cultural Trends that will Disrupt the World.
More than half of China’s chocolate sales are for gifts. Christmas and next month’s Lunar New Year are the peak seasons.
Rein says costly confection fills a gap in traditional present buying. “When you don’t want to buy someone a Mont Blanc pen but you want to buy something more expensive than mooncakes [a traditional gift for the mid-autumn festival] … chocolate hits a good market position. There just aren’t that many other prestige gift items in the $50-$200 range.”
More in the Financial Times
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
More on Shaun Rein and his upcoming book “The End of Cheap China” at Storify.