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Company Insights
Tencent – Digital Transformation Strategies
Tencent Holdings (Tencent) has been focusing on using artificial intelligence, cloud, 5G, and mobile gaming to digitally transform its operations. The annual ICT spending of Tencent was estimated at $3.88 billion for 2021. A major share of this spending is earmarked for acquiring software, hardware, and network and communications from vendors. Tencent is a provider of internet services and portals. Tencent offers services, such as communication, information, entertainment, and ecommerce; internet services, such as instant messaging, online media, wireless internet,...
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Sector Analysis
Hong Kong Retail Banking Market Size, Share & Trends Analysis and Forecast 2021 – 2025
The retail banking sector in Hong Kong has shown growth despite the recent impact of COVID-19. Residential mortgages and retail deposits recorded the highest compound annual growth rates (CAGRs) in the region, with the exception of China. Consumer credit lending showed a strong CAGR in personal loans, again only trailing the Chinese market. However, growth across credit cards was weaker as economic activity decreased due to the pandemic. The Hong Kong market has witnessed a triple threat over the last...
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Company Insights
BOC Hong Kong (Holdings) Limited – Enterprise Tech Ecosystem Series
BOC Hong Kong (Holdings) Limited (BOCHK), a subsidiary of Bank of China Limited, offers a range of banking, insurance, and other financial solutions. Its product offerings include credit cards, debit cards, time deposit accounts, business accounts, savings accounts, foreign currency savings accounts, mortgage, business loans, and personal loans. BOCHK offers insurance coverage for travel and leisure, life, family protection, liability, group, and retailer’s comprehensive insurance. The bank's service portfolio comprises privilege banking, foreign exchange, commercial financing, private banking, cash management,...
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Sector Analysis
The Cashless World – Evolving Payment Environments in Key Asia Pacific and Western Markets
The depth of internet connectivity and smartphone penetration in many markets means it can be very easy to drive the adoption of cashless payments, but the path to moving away from cash has become very different between markets. Cashless payments in most developed markets are still focused on payment cards, while in a lot of developing markets consumers are leapfrogging from cash to mobile payments. Compared to when payment cards were first introduced, the options for cashless payments and the...
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Thematic Analysis
Impact of China in Insurance – Thematic Research
This report provides an in-depth analysis of the current state of the Chinese insurance market, how it has influenced key trends across the industry, and how it will progress over the next few years.
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Analyst Opinions
Social Media Live Commerce – ForeSights
Leading CPG brands are leveraging “live commerce”, roping in key opinion leaders (KOLs) or company executives to host interactive livestreaming sessions on social media and e-commerce portals to drive product sales. Social media live commerce has gained considerable popularity in China in recent years, and the COVID-19 pandemic has accelerated the adoption of the technology. In 2020, live commerce is predicted to grow at 150% to reach CNY250bn ($36.7bn) from CNY100bn ($14.7bn) in 2019.
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Case Studies
GirlCult – Success Case Study
GirlCult, a cosmetics start-up that commenced operations in 2018, focuses on low pricing and a well diversified product line to attract young consumers. Instead of signing up celebrities, the brand collaborates with relatively amateur bloggers to communicate authenticity. Established in 2018, GirlCult is a Chinese cosmetics brand that emphasizes attractive product packaging and unique product names such as Curiosity and Crush to generate interest among consumers. Furthermore, GirlCult’s product collection is developed using various interesting themes such as mountain and...
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Consumer Insights
Banking and Payments Survey 2020 – Finding Consumers Pain Points and Changing Sentiments
This report provides actionable insight from our 2020 proprietary global survey, spanning banking, wealth, and payments. The report catches the trend in consumer sentiment around a variety of topics and shows how traditional, digital, and alternative banking providers can achieve their unique goals by tailoring their propositions towards select customer groups. GlobalData has used its 2020 Banking and Payments Survey to comprehensively understand the main ways that financial services providers can change for the better. Whether it is finding customers’...
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Analyst Opinions
C-Beauty – ForeSights
In the past, Chinese beauty (C-beauty) industry was known solely for replicating versions of popular international cosmetic products at low prices. These locally produced products were only preferred by Chinese consumers who could not afford more expensive foreign brands. This indicated that consumers were choosing these local make-up products only because of their lower cost, and paid little attention to brands or their image. Chinese beauty brands are growing in popularity. Their focus on quality and introduction of new varieties...