Why you should care about Chinese New Year

It’s almost time to celebrate the Year of the Tiger 🐯

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A 16-day-long celebration, Chinese New Year (or the Spring Festival), is a public holiday celebrated in a number of countries within the Asia-Pacific (APAC) region. The APAC region generally consists of countries in East Asia, South Asia, Southeast Asia and Oceania.

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Almost 20% of the world’s population celebrates Chinese New Year. Consumers in countries such as China, Indonesia, Malaysia, Singapore, North Korea, South Korea, Vietnam, and Brunei all take part in the celebrations! 

So, why should you care about Chinese New Year?

During Chinese New Year 2021, Chinese consumers spent 821 billion Yuan (approximately £95 billion or $129 billion), which is a 28.7% increase compared with 2020. But this figure is still less than the amount in 2019 – which was over 1 trillion Yuan!

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This has sparked a real opportunity on which brands around the world can capitalise because Chinese consumers are already spending a huge amount of money during this event!

How can you make the most of the biggest national holiday in China? 

It’s still important to consider that the Covid-19 pandemic continues to have a health and economic impact on China and countless countries around the world.

However, in locking the country down very early, China worked hard to contain the original Covid-19 outbreak, which effectively controlled the virus' transmission. This response to the outbreak inspired an unparalleled rebound in Chinese consumer confidence.

Prior to Covid-19, China was seen as a global leader in the digital economy with the highest share of the e-commerce market.

McKinsey & Co report that whilst the majority of the world are working on how they can return to normal life after Covid-19, Chinese consumers have moved on and are propelling a strong rebound in domestic consumption. This is primarily because of the number of provinces in China that have slowly returned to normal levels of activity. Alongside this, factories are now restarting production and consumers are becoming more confident to start spending again.

In this same report, 60% of consumers in China say that they are confident that they expect to get back to their normal daily routines within the next two to three months.

This year, the celebration of Chinese New Year presents new opportunities for companies to meet the increasing demands of consumers. 

With billions of Yuan to compete for, how can brands differentiate themselves and capitalise on this opportunity? 

The answer is by creating an engaging and immersive shopping experience for customers! 

To do so, brands need to effectively utilise their rich media through USPs, detailed imagery and diagrams, which all together provide the customer with a valuable experience.

Rich media content provides your consumers with an enhanced shopping experience that gives them the information they need at the right time, therefore making their buying process shorter and easier.

By preventing users from finding product details elsewhere, you are able to increase dwell time and build a connection with your consumers.

Immersive shopping experiences can boost your Add-to-Cart and conversion rates!

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Our clients can benefit from the unique Flixmedia product suite including INpages, Hotspots, MiniSites and Augmented Reality (AR) experiences that transform the way you sell your products online. 

Use INpages to enhance your product detail pages and explore content, use Hotspots to increase customer engagement and highlight product features/benefits, or use MiniSites – stunning product pop-ups that deliver your brand message through a feature-rich window above the fold.

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With Flix AR, you can take the guesswork out of the equation by letting your customers envisage your products in their spaces. By simply tapping, placing and exploring, you can for example let your customers try out a sofa to make sure it is the right size for their room, thus increasing product engagement and reducing product returns. 

We’re a world-leading content syndication provider that enriches retailers’ product pages with your brand content across the largest retailer network in the world. With over 1,600 retailers in our network, we make it easy for our clients to syndicate their content across the world!

Get started with your content syndication journey and book a demo now!