China Retail & E-commerce Weekly Update presents the latest developments in two of China’s fastest changing and rapidly evolving markets – retail and e-commerce.

Key highlights in this issue:

I. Sector Review

Internet & E-commerce

• Kuaishou launches partnership plan for livestreaming talent
• East Buy launches one-hour delivery service for private label products
• Meituan establishes new company in Xiamen which business scope includes AI software development and bike sharing services
• Bilibili 2023 ESG Report: Over three million content creators earn income from the platform

Apparel

• H&M accelerates localization in China
• SHEIN’s ‘500 City Industry Belt Plan’ exceeds expectations, empowering platform sellers to expand overseas

Cosmetics

• Kose to close Tmall store

Furniture & Home Products

• IKEA opens Shanghai pop-up for budget items

Luxury

• LVMH watch brand Hublot launches on Tmall

Food & Beverage

• Domino’s expands to 835 stores in 1Q24, with same-store sales increasing for 27 consecutive quarters

II. Market Overview

• Guangdong’s cross-border e-commerce import and export exceeds 200 billion yuan in 1Q24
• 6,000 cosmetics counters close nationwide over the past five years