Shanghai is back!
Daxue Consulting
We are a China-focused market research firm offering cross-border strategy consulting headquartered in Shanghai.
TRENDING HASHTAG ON CHINESE SOCIAL MEDIA
#SHANGHAI IS BACK#
Since Shanghai officially announced lifting its two-month lockdown on June 1st, the hashtag?#Shanghai is back#?(上海回来了) started trending on Chinese social media Weibo, with over 730 million views. Shanghai netizens are expressing their relief that?#the Shanghai they know is back again#?(熟悉的上海回来了) and excitement about finally being able to get a haircut.
As the skyscrapers on the bund lit up again, residents in Shanghai were celebrating the reopening of the city with fireworks, which usually only happens during Lunar New Year. Shanghai has also released an?action plan?on May 21st?which included 50 economic support measures in eight fields, hoping to recover from the two-month lockdowns as quickly as possible in response to the drastic decline in its economy in the past two months.
Although the city of 25 million is finally going back to normal, the consequences of prolonged lockdowns due to the zero-COVID policy might change the future of the city. For example, foreigners are giving second thoughts to their prospects in Shanghai due to the hardships they have undergone in the past two months, including food shortages and overpriced supplies. According to a survey conducted by?That’s Shanghai?in March 2022,?58%?of the foreign respondents are planning to leave Shanghai next year, looking for a new life outside China.
REPORT OF THE MONTH
As the lockdown in Shanghai has finally come to an end, many aspects of life have changed dramatically after?two months at home, such as the?evolving shopping habits?and changing behaviors of Chinese consumers. From group-buying to online counseling, and less demand in conspicuous luxury products to growing demand for pet ownership. We analyzed the Zero-COVID lockdown’s long-term impact on Chinese consumption.
What you will find in?this report:
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ARTICLE OF THE WEEK
CHINA'S FRESH FOOD COLD SUPPLY CHAIN IS STILL AT UNDER HALF OF ITS MARKET POTENTIAL
Every year, China consumes more than?300 million tons?of fresh food products. Despite the growing demand for fresh food, which utilizes cold chain logistics to maintain the quality and freshness of?food and beverage products?in transport, less than 50% of the country's main agricultural products are transported through cold chains and stored in cold chain facilities.?
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