(CIIE) Economic Watch: Global brands compete for bigger slice of Chinese leisure cake

SHANGHAI, Nov. 10 (Xinhua) — Hustle and bustle was the dominant feature of the 7th China International Import Expo (CIIE) held from Nov. 5 to Nov. 10 in Shanghai, but some brands did try to provide a slow-living corner in a bid to capture a slice of the country’s burgeoning market for leisure experiences.
In the CIIE’s Food and Agricultural Products Zone, Swiss chocolate company Lindt & Sprungli offered a rare master class led by Thomas Schnetzler, one of the five Lindt Master Chocolatiers.
“I hope people can really take that moment to treat themselves and indulge in the melt-in-your-mouth pleasure of chocolate,” said Schnetzler, who was on his third visit to China. This year was his and Lindt & Sprungli’s first participation at the CIIE.
The company, which entered the Chinese market in 2012, is set to explore the market more thoroughly, and create a wider range of high-quality chocolate products for Chinese consumers, who are embracing the fresh chocolate culture.
“I think it (the Chinese market) just has massive potential, as people here are open to trying lots of different products,” Schnetzler said, adding that he was proud to see that the company’s LINDOR and LES PYRENEENS products are very popular among Chinese consumers.
The 2024 CIIE also saw a 45-minute-long yoga exercise led by three yoga masters. Over 150 people within the exhibition center participated in this yoga session. The relaxing experience was organized by Canadian athletic apparel brand lululemon, which was also a first-time participant at the expo this year.
“When we were preparing for the CIIE with the organizing staff, we found that they were always very busy. Then the idea of putting on a yoga session came into being, to ease the hurry and stress of participants and promote our idea of well-being and a balanced and healthy life,” said Lynn Cheah, senior vice president of brand marketing at lululemon China.
A survey on how Chinese spend their time released in late October by the National Bureau of Statistics showed that China’s residents spend an average of 2 hours and 33 minutes a day on leisure and cultural activities.
Meanwhile, participants in sports and fitness activities in China invest an average of 1 hour and 10 minutes per day in such pursuits, while the participation rate in sports and fitness activities among Chinese residents has increased by 18.7 percentage points compared to 2018, reaching 49.6 percent, according to the survey.
lululemon has experienced strong growth since entering the Chinese mainland market in 2013. To date, the brand has opened more than 130 stores across China.
“By 2026, we expect the Chinese mainland to become our second-largest market worldwide, with over 200 stores,” said Andre Maestrini, executive vice president for lululemon’s international market.
“We are committed to keep investing in China to unlock further growth potential here as we engage more people into the brand,” Maestrini added. ■