The ongoing fifth China International Consumer Products Expo (CICPE) is placing the spotlight on groundbreaking homegrown innovations, including robotics and AI, which are expected to redefine consumer experiences and drive China's push for technological leadership, according to the China president of the DFS Group, a Hong Kong-based luxury travel retailer.
The fifth CICPE, running from April 13 to 18 in south China's Hainan Province, has drawn more than 4,100 brands from around the globe, marking its largest edition to date. CICPE is China's only state-level exhibition focused on consumer goods.
During an interview with China Global Television Network (CGTN), Nancy Liu, DFS China president, emphasized the expo's role in showcasing such innovations while highlighting Hainan's strategic importance as a gateway for brands. Liu noted that Hainan offers opportunities for brands to strengthen their presence in existing markets and explore untapped regions across China.
As part of the LVMH Group, the world's largest luxury firm, DFS has leveraged its 60-year history in the duty-free sector to remain an industry leader. Liu further elaborated that Hainan provides brands with a unique platform to expand market share, identify key cities for growth, and evaluate entry points into China's vast consumer landscape.
"How we see Hainan and what we can bring to Hainan is that we know that the domestic tourism coming into Hainan is from all over China. So from a brand perspective, even though they may have presence already in China, they can through Hainan, increase their market share. But more importantly, they can reiterate and reconfirm which cities within China are areas that they could further strengthen. For example, opening another store, as an example. That's one type of added value, if you will, for our partners. Then the other bit is for the brands who have not even entered into China yet, by being present in Hainan, they can sense check which part of China they would want to, potentially, in future invest in," she said.
Liu emphasized the Hainan Expo's distinct focus on consumers, which sets it apart from other national exhibitions. She also noted its growth in presenting cutting-edge innovations over the years.
"Hainan expo is really to the end consumer as opposed to the other national level exhibitions, which are much more B2B, this is more B2C, so the consumer perspective is quite important. We have seen the evolution over the years. The building block of the members that are coming through, the companies that are coming through have evolved as well. And in particular, this year, we're seeing much more homegrown type of products, such as -- you go into Hall Two, you have got the robotics and you've got artificial intelligence (AI) that are also part of the consumer mix this year," Liu said.
Luxury retail group highlights strategic value of China Int'l Consumer Products Expo
