Glancing Back: Insights from China’s Hopeful Year of the Rabbit

The Lunar New Year is typically a time for renewal and reflection. With the fiery year of the Dragon fast approaching, we spoke to our SERMO network partner Adventi Group, based in Shanghai, to delve into the past year. The PR agencies that make up the global SERMO network are built good relations and community, connected by our sharing of nuanced insights and local intelligence. 

Adventi Group have their ears on the ground when it comes to Chinese culture, and we explored the nation’s consumer behaviour and market trends during 2023 – a year symbolised by the gentle and serene Rabbit. 

2023 bore witness to a remarkable upturn in consumer confidence, fuelled by the opening of China's international borders and the end of its "no-COVID" policies. This led to a resurgence in travel, both locally and internationally. According to the World Travel and Tourism council, China saw a staggering 506% increase in outbound passengers during the first six months of the year. 

Tourism experienced a much-needed rebirth, says Hong Zheng, founder of Adventi Group. Spanning family reunion, cultural exploration, and wellness retreats, there was a newfound vitality for consumers to invest in travel. Noteworthy among these developments was a campaign with Abu Dhabi travel.  Adventi Group played a crucial role in shaping the narrative surrounding destinations like Abu Dhabi. Their collaborative efforts with renowned Chinese actress Liu Yifei (star of the Disney movie ‘Mulan’) created considerable buzz, generating over one million conversations online, and securing the top spot in Weibo's daily hot topic listings. 

In keeping with the spirit of the Rabbit year, creativity flourished in China and extended throughout East Asia. Fine arts sales skyrocketed, with China's fine art scene experiencing nearly triple the revenue compared to the previous year (Source: Art Price 2023). Furthermore, art hubs in cities like Hong Kong, Taipei, and Seoul thrived across the year. 

Following the revival of in-person art events after the pandemic, Adventi Group highlights the surge in art consumption. Adventi was proud to work with Chanel on the Jimei x Arles “Image Curator Award” winning curator Wang Shuman’s exhibition “The New Survivors” in Beijing. The award aimed to support young creative forces in photography and moving image art.

The Chanel Culture Fund also collaborated with the Power Station of Art Centre, which co-presented the exhibition "The Shape of Shadow", curated by Chen Donghua. This exhibit marked the second season of the Next Cultural Producer Programme. These collaborative endeavours illustrate Chanel's focus on nurturing young creatives and promoting diverse forms of cultural expression. 

The Rabbit year saw China make substantial commitments to sustainable development despite facing obstacles due to the COVID-19 pandemic. Policy changes at the National People's Congress revealed a renewed focus on alternative energy sources and institutional reforms. While primarily a government initiative, the Adventi Group recognized the need for businesses and individuals to adapt their behaviour to embrace sustainability.

GREENEXT, empowered by Adventi, continued to foster sustainability in fashion and lifestyle brands. Throughout the year, over 15 workshops were held for employees of luxury fashion houses, reaching approximately 2,000 participants. By discussing topics such as climate challenges, eco-friendly lifestyles, and social responsibility, these workshops empowered employees to make informed decisions and engage in sustainable practices in their respective industries and companies. 

In addition, GREENEXT is also working with UNGC for ESG 20 years, which is a fortunate start to the courageous symbol of the Dragon Year of 2024. We hope to see more active participation of enterprises and jointly build a more sustainable and beneficial future for society.

Such efforts align with broader trends in Chinese society, as evidenced by reports detailing China's progress towards carbon neutrality and green development. They serve as examples for other nations looking to follow suit and create a greener, more sustainable future.

As we prepare for the Year of the Dragon, it becomes increasingly apparent that consumer behaviours will continue to evolve alongside shifting geopolitical dynamics. Marketers must remain agile and responsive to these transformations in order to maintain relevance and success.