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August 24th Asian Marketing News Of The Day

The “2022–2023 China Pet Industry Development Report” shows that the scale of China’s pet economy industry will reach 493.6 billion yuan in 2022, a year-on-year increase of 25.2%. Data from the beginning of 2022 shows that the number of people living alone in China has reached 92 million. The single economy is an essential factor driving the development of the pet industry.

From January to July, China’s beer export volume was 280,200 kiloliters. In the same period, China imported 269,600 kiloliters of beer, a year-on-year decrease of 13%.

Due to the short videos’ popularity, Korean teenagers’ time on TikTok and Instagram continues to increase. In July, Korean teens’ most beloved apps were YouTube, TikTok, and Instagram.

According to a recent TikTok and BCG study, Shoppertainment can have a market value of USD 1 trillion for brands in the Asia Pacific by 2025. Shoppertainment is an e-commerce trend that focuses on improving the interactivity of online shopping to connect with, engage, and amuse shoppers. Shoppertainment is expected to grow at a compound annual growth rate of 63%, with Indonesia, Japan, and South Korea accounting for the top three contributing markets. You can read the whole report:

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