Leading AI marketing platform EternityX has expanded to Singapore, naming Richard Andrew (pictured below) managing director, Southeast Asia and Australia.
Andrew will be responsible for driving Southeast Asia and Australia’s strategy and business expansion, helping marketers to target the complex, lucrative China digital market, as China begins its post-COVID-19 recovery. Armay Guo has been named regional business development head SEA, working alongside Andrew. Headquartered in Hong Kong, EternityX has offices in Beijing, Shanghai, Guangzhou, New York and now Singapore.
In 2018 EternityX grew out of Chinese marketing firm BiddingX, which has over 50 industry awards. EternityX enables agencies and brands to effectively reach hundreds of millions of Chinese consumers in a cost- and time-effective manner. EternityX’s premium media inventory reaches more than 90-percent of China’s netizens through such partners as ByteDance, Tencent, Alibaba and WeChat.
EternityX CEO Charlene Ree noted that demand is building once again in China. “China is beginning its recovery, with the state and private sector boosting consumers. Local governments are issuing US$700 million worth of prepaid vouchers to consumers. Private mall owner Dalian Wanda Commercial Management Group issued US$28 million of coupons.
“And the Chinese consumer is ready to buy! In an April 2020 consumer survey, McKinsey found 47% of China consumers are ‘optimistic’, expecting the economy to rebound in two to three months, and grow as strongly or stronger than before. The Hermes flagship store in Guangzhou recently sold US$2.7 million of luxury products on its first day of reopening,” noted Ree.
EternityX’s clients include some of the world’s most-recognized luxury and travel brands, including Shiseido Group, L’Oreal Group, Richemont Group, LVMH Group, Singapore Airlines, Qatar Airways, Hilton Hotel Group and Shangri-La Hotel Groups.
“Our highly advanced platform, professional insights and unparalleled inventory ensure we deliver the cost-effective, successful campaigns that international brands require to be top of mind with the China consumer. Our experience navigating the Chinese market makes us uniquely positioned to help international brands harness the full potential of China’s pent-up spending demand as the country recovers from the Covid-19 pandemic,” concluded Ree.
China is the world’s largest source of international tourism. Chinese nationals were the biggest group of international travellers in 2019, spending US$128 billion globally. Bain and Company’s recent report on Chinese luxury spending says the China consumer accounted for 35 per cent of the value of luxury goods sold worldwide, while McKinsey predicts that by 2025 they will account for almost two-thirds of global growth in luxury spending.
Andrew commented: “I am extremely excited to be joining EternityX and use my strong understanding of the Asia market and deep knowledge of data driven marketing to drive the business to the next stage of growth in the Asia market. Travel and luxury brands, in particular, have an incredible opportunity to connect with Chinese consumers in the coming months as China opens up to the world.
“During these challenging times brands are more and more focused on business outcomes to measure the success of their marketing initiatives. EternityX’ s results-orientated data-driven technology and China expertise will help our clients overcome the current obstacles and deliver a competitive advantage.”