What surprised you most about Chinese consumers?
From my perspective:
Chinese consumers are surprisingly rapidly adopting, highly digital, and "bifurcated"—trading down on daily essentials while splurging on niche, experiential, or emotional products. Key surprises include the massive rise of emotional shopping (e.g., blind boxes), intense demand for local brands over international luxury, and an almost exclusive reliance on social media for purchasing.
How about you? What do you think?
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Great summary, Jurgen. The 'bifurcation' point is critical—we’re seeing a massive shift where 'value for money' and 'high-end emotional value' are winning, while the 'middle-of-the-road' brands are struggling most.