As we head into February 2023, there are several hot topics in the fashion and retail industry that have caught our attention. With the recent relaxation of COVID-19 quarantine measures in Hong Kong and mainland China, airports are witnessing a surge in demand for travel accessories and fashion brands. Digital collectibles, on the other hand, are becoming a new way for brands to engage with customers and create hype around product launches. Meanwhile, the release of Ant-Man and the Wasp: Quantumania marks the start of Phase 5 of the Marvel Cinematic Universe (MCU) and has sparked lots of global discussion.
The surge of travellers from Hong Kong and mainland China has increased significantly as COVID-19 quarantine measures have relaxed. During the 2023 Spring Festival period, over 300 million domestic trips were taken in China, which has led to a rise in demand for travel accessories and fashion brands at airports and malls in the cities. This trend has given rise to the hot topics of revenge travel and revenge spending. Furthermore, the 11 SKIES retail-entertainment hub, located adjacent to the HK International Airport, is set to partly open later in 2023, which will boost airport traffic and attract more tourists. Some Hong Kong shopping malls have also launched activities targeting tourists, such as Pacific Place granting gift cards to shoppers with overseas passports.
(from the RetailFriday platform)
Digital collectibles, a new type of blockchain-verified digital assets, have emerged as a popular way for brands to engage with customers and create hype around product launches. They can be considered a rebrand of non-fungible tokens (NFTs). As of now, there are about 500,000 Instagram posts with the tag #digitalcollectibles. The increasing popularity of digital collectibles has led many retail brands to adopt this innovative marketing strategy. To celebrate the 30th anniversary of the “Angel” fragrance, Mugler introduced their first arty digital collectibles in February 2023. Similarly, Prada launched its 9th limited-edition “Timecapsule” collection in the digital space in the same month. Moreover, Porsche China introduced its first digital collectibles line, called “911-Dreamer,” in January 2023.
(from the RetailFriday platform)
The Marvel Cinematic Universe (MCU) is a collection of superhero films created by Marvel Studios that are interlinked. The recent release of Ant-Man and the Wasp: Quantumania has sparked a lot of excitement among fans as it marks the beginning of Phase 5 of the MCU. Moreover, with China lifting its ban on Marvel movies, this film has also debuted in Chinese theatres in February 2023. As a result, related merchandise and activities have started to emerge. The movie has already garnered approximately 400,000 Instagram posts under the hashtag #antmanandthewasp, while Ant Man’s official Instagram and Twitter accounts currently boast 370,000 and 1.4 million followers, respectively.
(from the RetailFriday platform)
As the year progresses, the fashion and retail industry continues to be influenced by a number of hot topics. We introduced airport-related trends, digital collectibles, and MCU above and expect these topics to continue to shape the industry throughout the year. These are interesting trends to keep an eye on as the year progresses.