Chinese New Year eCommerce Guide: Trends, Insights and Best Practices

Chinese New Year eCommerce Guide: Trends, Insights and Best Practices

  The Chinese New Year marks the start of the Spring festival, a two week long celebration marking the beginning of a new season that is traditionally associated with health and prosperity. For retailers, this festival also presents a unique opportunity to reach out to a large consumer group that perceives the Chinese New Year as a time for new beginnings, or more specifically, new things. China is one of the fastest growing markets and with more than 1.4 billion Chinese across the globe, the holiday is indeed a golden opportunity for retailers both online and offline. So how can eCommerce retailers leverage this holiday to reach out to online consumers in China? This article discusses some key trends and best practices for the season. In 2014, SingPost eCommerce research found that majority of US mono brands were looking to China with a clear eCommerce strategy. 71% have set up an eCommerce business in China without a physical retail store. This also rings true amongst British retailers – Advertising Age revealed that high street fashion label Topshop launched on the mainland in September 2014 with a purely eCommerce strategy via Shangpin.com, an online retail platform. Global retailer Costco also leapfrogged setting up physical stores in China and announced its market entry via Alibaba’s Tmall marketplace. In the global retail space, Chinese New Year was listed as one of the top five international holidays for eCommerce in 2012, according to Business Insider. And it’s traction is growing year on year – according to Economy Watch, consumers in China spent over USD $86 billion within just the first six days of...