1、CHINA MARKETING&MEDIA TRENDS20232023 BRAND MARKETING&MEDIA PLANNING OUTLOOK China is finally re-opening after three years of tight Covid controls.Once it moves past the current deluge of Covid cases,we should-FINALLY-see a resumption of normal.Brands(and consumers)have been stuck in a holding patter

2、n for the last three years.A lot of damage has been done.Consumer confidence has eroded significantly.Many high profile Global brands have pulled out of the market,while many others are reducing investments in growth.Profit margins have been clipped back.Key staff have repatriated.Many companies hav

3、e started a pivot towards Asia-and a re-balancing of budgets towards growth in S.E.Asia.With all this said,there is still a surprising level of optimism around China growth prospects.While our annual survey of brands acknowledges a decreased level of optimism(from years past),the majority of brands

4、continue to invest into growth.The majority of brands are increasing budgets and expanding long-term commitments;targeting new customer groups,exploring new media and advertising opportunities,and refining localized products and services.Even with reduced growth prospects,China is a massive economy

5、and has a momentum which should allow it to push through some pain.Economist growth forecasts for Chinas economy in 2023 are in the range of 4-to-6%-which has China still out-pacing growth in developed markets like the US/EU.Its middle class continues to expand and its lower tier cities are a source

6、 of new growth prospects.China is in the midsts of a material pivot,which could leave many aspiring Global brands on the outside looking in-after the dust settles.It may be a similar pivot(toward localism)that occurred in the 90s for Japan.Some top brands still thrive in Japan but the bulk of the ma