China’s Top Brands Stay Cautious on Post-Covid Consumer Recovery
- Global, local giants see sales rebound but uncertainty ahead
- Firms widening revenue forecasts, applying deep discounts
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China’s biggest consumer brands, from sneaker makers to brewers, say they’ve seen a boom in demand as the country leaves the dark days of Covid Zero behind. But beneath the surface, a lingering sense of caution about the sustainability of the rebound points to a potentially rocky year ahead.
A recovery in business since the Lunar New Year is still going strong as consumers unleash spending that was curbed by last year’s unpredictable pandemic controls, executives at global consumer giants like Starbucks Corp., as well as local heavyweights like Li Ning Co., have said in their most recent round of earnings.