[Video] China’s businesses are stuck in a rat race too
Hotpot served at a water park, buffets whipped up by supermarkets and smartphones priced in the hundreds of RMB — China’s businesses are pulling out all the stops to attract customers. ThinkChina’s Yi Jina explores how businesses are innovating — and involuting — to stay ahead.
You may have heard of China’s “996” work culture, high unemployment rates and endless tuition — all signs of the overwhelming involution individuals face. But involution isn’t limited to education and work. Businesses, too, are grappling with an ever-changing, hyper-competitive market, and they are racing to innovate, compete and stand out.
Some are delivering over-the-top services, like serving hotpot at a water park. Other hotpot restaurants go viral for their amazing desserts, rivalling even specialty dessert shops. Museums, too, are raising the bar by presenting history and culture through food tastings and fashion shows.
Meanwhile, businesses are tapping into young consumers’ obsession with chupian (出片) culture, where creating “Instagram-worthy” moments often takes precedence over the product itself. Serving up unusual dishes like “stir-fried pebbles” or “scallion-oil noodle ice cream” ensures that customers leave with both an unforgettable experience and the perfect photo.
One-stop shops are also on the rise. Supermarkets are now offering freshly prepared buffets, truly delivering the “shop and dine” experience. Even traditional Chinese medicine (TCM) pharmacies are joining the F&B industry with their herb-infused delicacies and drinks, prompting netizens to exclaim, “Who would’ve thought that a restaurant’s biggest rival isn’t another restaurant, but a TCM clinic!”
Price wars are fierce, with businesses vying to offer the lowest prices, often at the expense of quality and profit. Countless 1-cent first-timer deals, flash sales and stores selling exclusively “near-expiry” products are popping up. Even big-ticket items like electric cars and phones are being sold at all-time lows.
In this relentless race, Chinese businesses are focusing on sparking curiosity and generating buzz. But is this sustainable creativity or a fleeting trend in an ultra-competitive market? As the line between creativity and gimmick blurs, the question remains: how far will China’s businesses go to win the hearts — and wallets — of consumers?
