Their annual results reveal that food suppliers booked high margins during COVID lockdowns. Pang Pang Xiang (China) Company Ltd was retained by the Shanghai government earlier this year to supply food, and citizens are now shocked by their profits. However, they won’t be able to continue, says Shanghai-based retail analyst Ben Cavender to Reuters.
US fast fashion brand Forever 21 tries for the third time to get access to the China market. But Shanghai-based market analyst Ben Cavender wonders if the US brand and its Western competitors in fast fashion might succeed this time, he tells Reuters. “It will be difficult to claw away market share as most Chinese consumers either haven’t heard of the brand or don’t really know what it stands for,” he says.
Global companies have been warning of the major effects of China’s lockdown on their operations, curtailing Shanghai for more than six weeks. But they have very few alternatives apart from sitting out the ordeal, says Shanghai-based business analyst Ben Cavender to CNN. The corporate exodus from Russia after the invasion of Ukraine did not help. For sure, consumption in China is down.
Moutai has been a runaway success, started as the drink for China’s elite but now conquering the market for the common people too, and it gains market value, even passing Coca-Cola. Marketing analyst Ben Cavender looks at CNN at the successful liquor as it prepares for another highlight as Chinese New Year is around the corner.