China’s Consumer Comeback: Jacob Cooke Breaks Down 2024 Consumption Data

In this episode of The Negotiation, we’re joined once again by Jacob Cooke, Co-founder and CEO of WPIC Marketing + Technologies. Jacob walks us through the key insights from WPIC’s latest data report profiling the fastest-growing consumer segments in China’s e-commerce market. Drawing from GMV data across Tmall, JD.com, and Douyin, the report reveals a story of recovery, consumer optimism, and evolving channel strategies.

Jacob kicks off with an overview of China’s current consumption environment, highlighting a return of consumer confidence fueled by government stimulus, higher disposable incomes, and a willingness to spend. He then breaks down performance across platforms, noting the rapid rise of Douyin and Xiaohongshu, and explaining how brands should adapt to a more fragmented, omnichannel landscape.

We then dive into category-specific insights, from the booming beauty and fashion sectors to the rise of experiential consumption, pet care premiumization, and the ongoing expansion of health and wellness products. Jacob also discusses growth in outdoor and active lifestyle categories, with impressive gains in cycling, hiking, and ski gear.

Stay tuned for an insight-packed discussion that challenges the doom-and-gloom narrative and positions China as a dynamic and essential market for global brands.

Discussion Points

• Why consumer confidence is rebounding in China—and what that means for international brands
• Platform performance: Tmall and JD’s staying power vs. Douyin’s rise in social commerce
• Xiaohongshu’s triple-digit growth trajectory and strategic role for brand discovery
• Beauty and fashion trends: science-backed skincare, expressive makeup, men’s grooming
• The suitcase boom: post-pandemic travel + lifestyle trends = experiential consumption
• What’s fueling China’s demand for fish oil, vitamin B, and dietary fiber
• Outdoor gear goes mainstream: cycling, skiing, hiking, and the crossover with fashion
• Premiumization in pet care: what’s behind the $11.2B market
• Rising spend in the mother and baby category despite falling birth rates
• Key takeaways for brands: adopt an omnichannel, data-driven strategy for growth