When I was looking through marketing classmates’ blog posts trying to find any idea, Timmy Cheung’s “ New Money”  jumped right into my eyes.(Link:https://blogs.ubc.ca/timmycheung/2012/01/16/new-money/) As a chinese, i am pretty familiar with the current situation which happens in china.

With the rapidly development of economy, a number of chinese catch the great chance, and they become the “new richer”. At the same time, their demand towards luxury products also increased as well as their wealth. Some of them, particular for nouveau riche, they want to show their wealth through purchasing and using luxury products. The same situation also happens here Vancouver. As a result, a strange phenomenon comes out, in most china major cities,for example Hong kong, Shang Hai, people often need to  wait a long line to purchase the luxury products! The service seems not good enough as a luxury brand should provide.

 In most situation, luxury brands are famous for their genuine materials, quality craftsmanship, outstanding customer service and of course the exclusive price. These detailed elements would make their brands symbolize elegant, classy and fashion. However, I think those “nouveau riche” in China are trapped in the trend to take advantage of these brands as a way to show their wealth and social status. Not only in China, but also in other major cities around the world such as Vancouver you will find places such as Holt Renfrew are crowded with these Chinese riches. It seems not a normal case now.

In my opinion, Luxury brand such as LV, Hermes should also need to catch the opportunity to earn profits. The potential market in china is obviously huge enough which worth luxury brands to invest more to get more returns. Luxury brands are supposed to make full force go into the china market without any hesitation. It is a win-win strategy which appeals to both customers and producers.

Taobao was set up in 2003, only in less than 10 years, it already becomes the biggest E-Bay in asain, it aims to become the first-selected E-bay around the worldwide. Up to the end of 2009, Taobao has more than 170,000,000 registered memberships, what’s more, the number of users still increase in a high speed. Accounting to the statistic data, the transaction of Taobao in 2009 is 20.83 billion(RMB), the number is up to amazing 40 billion in 2010.

Taobao is a customer to customer individual online trading platform, the product number also obviously increase during the recent years, which from cars, computers and labs to even clothes, it also including online-game trading area.

Nowadays, more and more teenagers use Taobao to online-shopping. One of the reason why so many people choose Taobao is the unique service. For each shop enters into the E-Bay, the owner need to provide government permitted operating document. Customers’ feedback also is vital to each owner, once bad comment received, the shop owner will be punished, or even be kicked out from the E-bay. As a result, people can enjoy high quality service in Taobao.

From my opinion, Taobao is really a wonder in China. Currently, running business in china is becoming harder and harder, however, Taobao will keep having a good record. The potencial market still huge, shopping by Taobao already becomes one kind of lifestyle. As the good repuation it receives, there is no doubt that more people will select and accept Taobao. Based on the good management and high quality service, the futher of the Taobao is bright.

Recent years, there is a new industry named Cube Inc, which comes from Japan. Now, the Cube Inc becomes more and more popular, as a result, more and more people start to run this new industry. Easily to say, Cube inn owner just rent or buy a shop in a big shopping mall, then, the owner divide the shop into many space, maybe using shelf or other tools, thus, the shop has many different independent areas. After setting up, the owner can rent the space out or sell products by himself. Others only need to pay only a small amount of money to rent the space. I am also interest on this new kind industry.

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Now, the Cube Inc in vancouver also is hot, i think this is caused by the special conditions in vancouver. As we all know that Vancouver is one of the most pupular places for students to study, thousands of students from all around the world come to Vancouver to study. Most of them also is richer than average. As a resut, they become the biggest customers. The products selling in Cube Inc mostly is prepare for girls, like cute small things(eg: iphone case), and some other strange things which your are dificult to find in other malls), however, the price of the product is not cheap, sometimes, the price is much higher. Although the product is expensive, there are still lots of international students, especially girls go to purchase.

Personally, this industry works pretty well currently, however, the future of the Cube Inc is unclear and full of uncertain. Today’s huge successful mostly caused by the special conditions here which is can not make up in other regions. The industry is tirely reatively to the number of the international students and the economy status.