58 Minutes with Dr Esterina Nervino of City University Hong Kong and Steven Luk, CEO of FountainCap Research & Investment.As part of our ongoing China series, Hugo Rogers of Aravis Capital sits down with Dr Esterina Nervino and Steven Luk to discuss emerging consumer trends in China. The consumer, the main engine of the Chinese growth story for these past two decades, is often a subject treated with broad brush strokes. For this episode, we wanted to dig deeper and understand how the Chinese consumer has evolved over the past decade, how digitalization, urbanization and sustainability are driving change in consumer profiles as well as the relentless rise of international luxury brands.Steven Luk, who we welcome back, is CEO of FountainCap Research and Investment, a HK-based China-focused investment manager. Dr. Esterina Nervino, is Assistant Professor in the Departments of English and Marketing at the City University of Hong Kong. She is also an Associate Director within the Sales and Consulting Unit and recently contributed to KPMG’s ‘Luxury Redefined’ report.00:00 Disclaimer00:34 Introduction to Aravis Presents00:57 Introduction to Topic: China Consumer01:48 Perceptions vs Reality of the Chinese Consumer07:21 Post Covid consumer trends10:31 Observation notes from a recent field trip14:44 KPMG report on consumer profiles in China19:40 Key differences in consumer behaviour between the tiered cities23:15 Digitalisation in China30:39 International brands in the face of emerging consumer nationalism36:21 Chinese brands expanding in the West and comparison with South Korea39:52 Luxury goods success in China48:32 Sustainability54:24 Effect of ageing population on consumption57:14 Closing remarks & takeaways

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