Emerging brands grab market share in China and South Korea, forcing established ones to reinvent
Publishing timestamp: 2024-02-06 01:27:51
Summary
The article discusses how upstart consumer brands have been gaining market share in China and South Korea, while incumbents still hold significant market share in Malaysia, Philippines, and India. The rise of online shopping, social media, and easier access to factories are driving the growth of new consumer brands in parts of Asia, putting pressure on traditional industry giants. The article also highlights the importance of being nimble and responsive to consumer trends in order to succeed in the competitive market.
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Keywords: internet, e-commerce, alibaba group holding ltd, business news, food and drink, china, retail industry, south korea,