VIP Class Notes (Peter – Tibo)

We don’t contact very closely / we aren’t close yet / we mostly just say hello for now.

I don’t want to push it too hard  / I don’t want to force it

They just told me how to connect to the network …
I work on the media buy strategy. We work for the client to make strategy planning for them. / we develop a strategy and a media planning for them.

According to the statistics of the 618 festival and what other brands do… / we analyze what other brands did / we analyze the performance of various brands.
We give suggestions to them.

I have to write some things in English and I use Chatgpt, it can help me to correct mistakes.

in 2020 it had a sharply decrease -> it had a sharp decrease / it decreased sharply

We discussed some new trends on the economy to find out is there any new trend different with the old reports. -> we discussed new trends in the economy and if we notice new tendencies based on reports we read

We found the most trends they predict is positive toward the luxury industry. -> most predictions on the luxury industry are positive

The biggest part of all the luxury brands…. the most part of them is fashion.
It is about ready to wear and haute couture. -> When we look at the luxury industry we see that fashion and haut couture are the top 2 in terms of revenue  / Fashion and haute couture are the biggest sector 

The third part is perfume and cosmetics.

Our consumers mainly consist of people over 30 / the demographic we target is mostly people over 30.

we define 4 classes of income based on their salary. / 4 income brackets
Most of them are medium and above.

he came to Berlin yesterday -> he went to Berlin yesterday

I thought they have good marketing abilities and how they can do the brandingl
How do they make the brands so popular and so worldwide is interesting.  -> I am impressed by their marketing and their branding. They managed to make the brands popular worlwide.

Most of their designs are accused of copying other. / they were accused of plagiarism for their designs.

There are also ancient brands but after the cultural revolution they lost momentum and they became state owned companies  / they were nationalized 

it cause so many people unemployed -> due to this many people lost their jobs / many people were laid off.

If you want to do a branding showcase you will choose Chinese monuments.

Previously Chinese people liked to put their money in gold / invest their money in real estate.

The economic recession didn’t harm/affect affluent people but it affected middle class and low income people.

There isn’t a clear increase of unemployment.
Students who decide to further their studies are not included in the data.

I feel the data is not so accurate / representative.

by talking to others we can find it. / we feel it empirically

The Chinese economy is still resilient
Chinese people like to save money / have a high saving rate.

During covid I started to save. / Covid triggered a saving habit for me

I stopped believing salaries would keep increasing.

Consumers are more sensitive to the price and the quality.
Consumer spend more time to decide what to buy

There is anxiety in their consumption.

The income of poor people will stop increasing / stagnate

Vocabulary

to stagnate (v) to remain constant / almost constant
Income levels started to stagnate

downgrade (v) opposite of upgrade
They decided to downgrade to a smaller house because the rent was too high

degrade (v) make worse / deteriorate in quality, value, or status.
They degraded the monument by doing some graffitis
The economy is degrading

empirical (adj) : based on feelings / what you see around you
If I consider more empirical factors I can feel there is a recession

real estate (n) : apartments / houses
People love real estate in China

recession (n) period of significant economic decline lasting at least six months
Some people believe we are experiencing a recession

monument (n) iconic building  / building to commemorate someone or something
The most famous monument in Paris is the Eiffel Tower

lay off (v/n) to reduce the number of employees
Tencent decided to lay off 10,000 people

hierarchy (n) power structure
State owned companies have a strong hierarchy

state owned companies (n) companies which belong to the country / government
China telecom is a state owned company

nationalize (v) to turn into a state owned company / to take ownership for the state
The country decided to nationalize the oil company

nationalization (n)
There was a wave of nationalization

privatize (v) turn into a private company
Some companies were privatized in the 2000s

privatization (n)
There is a wave of privatization

plagiarism (n) when you copy other
they were accused of plagiarism

bracket (n) [ ]
We considered 4 income brackets

prediction (n) what you think the future will be like (data)
based on predictions our sales will grow 20% next year

predicable (adj) easy to predict / easy to guess what will happen
Tom is very predicable

Pronunciation

haute couture

degradation

epidemic