Totem：2025年中国市场营销及媒体述评报告（英文版）

The last few years have been slow by China standards, with consumers and brands waiting for consumption to return to its fearless, limitless pace. But it’s become clear that marketing in China has moved into a new phase of slower growth. For consumers, this is a new paradigm. As China’s middle class retreats and regroups, brand positioning and pricing are allimportant. Responding to changes in sentiment is imperative - both at a national level and at a city-by-city level. Adjusting to a slowe