This topic is all the more relevant this month as we draw closer to an international event: the Chinese New Year. It may be a traditional celebration for some, but for others, it's an opportunity to diversify their target market.
Chinese New Year: a marketing opportunity for brands
The date is set, this year it will be Monday, 8 February 2016. 2016 is the year of the monkey.
Over the years, this has become an unmissable opportunity for brands to adapt their product range, strengthen customer relations, but also increase their visibility in order to win over their desired share of the market.
Historically, it has been a chance for people to give their loved ones gifts in red envelopes (a colour believed to bring luck).
A fast-growing target market
It would appear that more and more Chinese people are choosing to celebrate this huge celebration abroad. In 2015, Chinese tourists spent 229 billion dollars (1), and spend more in the USA and Europe than in most other countries ($2,500 on average per holiday in both destinations).
London has even written a list of 10 tips to make sure you don't miss out on this open event:
Around 600,000 Chinese people live in France. Paris (+1.6% of Chinese tourists in the first quarter of 2015, or more than 2 million visitors in 2015) is considered by the site 'Chine Informations' as the most highly recommended city to spend Chinese New Year in outside of China (1). Therefore, this is a real opportunity for Western brands to attract Chinese tourists into their shops or hotels, etc.
Limited offer strategies
As a way of aiming their products at Chinese residents, brands use limited offers that feature the codes and symbol of the year. Here are a few examples:
• Each year, the luxury watch brand Vacheron-Constantin brings out special and unique models that feature the symbol of the Chinese zodiac animal being celebrated.
• Harrods offers a limited edition of souvenirs that carry the 2016 symbol (year of the monkey).
• The watch brand Swatch also makes a unique model: the Lucky Monkey model.
• The website cdiscount.com sets up a special online counter
Approved promotions, event campaigns
Whether online or in store, discounts are displayed!
• For several years, large shops in the USA such as Bloomingdale's have decorated their stores in red, offered discounts on all kinds of products (beauty, food, etc.) and offered gift vouchers for this special occasion. The sales promotions are so attractive that many Chinese websites recommend those travelling to or passing through the United State not to miss out on these shops.
• The Alibaba Group announced that it wanted to make this a record sales day (as it did on Singles Day). These special offers have already been displayed on the website.
Each brand must demonstrate creativity in order to stand out from others.
• Here are 5 genius examples used by the website marketingtochina.com
• And if we look back at 2015 this time, many brands celebrated the New Year through social media
Find more information on how the New Year was used: