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The Lunar New Year, aka Chinese New Year, which begins on February 5th this year, is so much more than a mere “holiday”. This annual event is the biggest human migration in the world, and an immense opportunity for retailers of all sizes! The Lunar New Year is celebrated for nearly a month and practically shuts down the whole of China as approximately 360 million Chinese people travel (typically to their hometowns) to celebrate with their families. The numbers are simply staggering! 360 million people! And they will spend, spend, spend on travel, gifts, food, and other goods. If your company isn’t spending on digital marketing for Chinese New Year, it should be. Chinese New Year is a major revenue source, both locally and abroad.
In 2018, more than 6.5 million Chinese traveled abroad during the Lunar New Year holiday and generating $70.2 billion (RMB 475 billion) in revenue, in both China and abroad. A recent report by Ctrip.com International also showed that in 2018 holiday travelers contributed a total of $9.1 billion (RMB 61.75 billion) to other countries’ economies and that their per capita consumption abroad totaled $1,400 (RMB 9,500). 2019 is expected to exceed those numbers with Chinese travelers anticipated to travel to more than 900 destinations in 96 countries worldwide!
Both e-commerce and brick and mortar retailers will find that Chinese travelers are typically more willing to splurge during Chinese New Year, particularly on luxury travel, food, and accommodations. This presents a unique opportunity for advertisers to engage and tap into the luxury consumer market in the Asia Pacific region. Running a unique discount code across your digital marketing platforms during the world’s largest travelers holiday could provide the increase in sales your business needs. Plan your promotion well, provide an excellent product and customer service, and you’ll be able to continue to engage and market to the new audience you’ve attracted- even after the holiday is over. Repeat customers are a business’s bread and butter after all!
PRDA is Asia’s leading social media agency for a reason, our Founder and Business Director Douglas White is a very high-demand Social Media expert with a proven social media methodology and highly knowledgeable on the largest global ecommerce market; Asia. In 2017 alone, his proven social media methodology was introduced to more than 90 companies, including training over 600 professionals in various industries. PRDA is ready to provide your company with the digital transformation it needs! Contact us today to learn more.
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