How to embrace the Chinese New Year and build customer loyalty among Asian customers

PayXpert

PayXpert
Published 12/01/2022 · 3 min read

Learn how to sell more in-store or online

The Chinese New Year is a holiday celebrated by billions of people around the world. As a retailer, are you prepared to make the most of this event? It is a common mistake for non-Chinese retailers to underestimate this date and potential sales from Asian buyers. As well as being one of the biggest cultural events in the world, the Chinese New Year is also one of the most important retail dates that should not be ignored.

According to a study by the consulting firm Forrester, cross-border eCommerce is expected to increase by 20%, reaching 630 billion dollars, with China leading the way in consumption. In other words, more and more international shoppers are turning to online stores around the world for products they cannot find in domestic online stores, and the Chinese shopper is one of the best bets when it comes to developing an online sales strategy.

Betting on the Chinese customer is betting on your business

Offering an attractive proposal to the Chinese market would not only position you within the Chinese New Year campaign, but it would also open the doors to other important dates for the Asian giant, such as Golden Week, in October, when millions of people take advantage of a week of national holidays to travel outside China, where they practice one of their greatest hobbies: shopping.

The United Kingdom is among the main destinations chosen by China's main tourist agencies, given the great attraction it represents for their customers.

As you can see, it is not only about how your eCommerce can sell more this Chinese New Year 2022, but having a sales strategy adapted to the international customer and China, in particular, can help you sell more throughout the year and even in your retail store, hotel, restaurant, or even taxi service.

How to reach the Chinese customer to increase your business’s cross-border sales

According to a study by McKinsey, 79% of Chinese consumers make purchases using their phone either to access eCommerce portals, or to pay in-store, compared to a lowly 28% of European countries, such as the United Kingdom.

For this reason, it is important to consider three main factors:

  1. Chinese payment methods both in-store and in eCommerce. Offering one or more payment methods that the Chinese customer recognises as familiar and trustworthy is a key step to getting more and better customers. Integrating these payment solutions into your website or point of sale (POS) device, whether in your online commerce or physical store, in a user-friendly way is another important step if you want to effectively increase your conversion. Not sure where to start? Take a look at our alternative payment method solutions (AliPay and WeChat Pay, amongst others), as well as our POS for stores, restaurants, and taxi's as well as our powerful online payment gateway.
  2. Offer your Chinese customers mobile phone payment solutions. Mobile phones have become one of the main forms of payment device. Chinese consumers pay using contactless card and QR code transactions supported by payment schemes such as UnionPay, WeChat, and Alipay. Either through contactless payment, thanks to the NFC connection with the Point-of-Sale Terminal, or thanks to apps. We can help you offer your Chinese customers their preferred payment solution and generate more sales.
  3. Attracting new domestic customers directly within China. PayXpert can help provide your business with a WeChat Official Account. This enables you to communicate with Chinese shoppers directly within the WeChat social network. This is the best way to share news and promote your business directly with consumers in China.
    We can help you create web pages and messages in the Chinese language and redirect Chinese consumers to your website. We can also go one step further and create a Chinese Mini Program for your business; think of it as a mini-website embedded within the WeChat social network that is capable of accepting payments for your goods and services.
    You can also advertise directly within the Alipay network as well. PayXpert can help you create storefronts and advertise your business within the City pages of the Alipay network. Details include information about your retail business, your products, opening times, and any current promotions you have available. Your retail store geolocation is available within the Alipay application.

After the record sales achieved on Singles Day 2021 by one of China’s retail giants, it is now more important than ever for eCommerce’s around the world to integrate channels and payment methods that open the door to one of the world’s most affluent shoppers: the Chinese customer.

If, on the other hand, you have a physical store, a bar, or a restaurant, offering POS devices with integrated Chinese payment solutions allows you to welcome Chinese consumers as they would expect to be welcomed in their own country. There is nothing like showing them that you know and care about them to build customer loyalty.

Much more than the best payment gateway... The best financial technology

We are expert financial partners. Our goal since we were born in 2009 has been to offer the best financial optimisation solutions to our customers. How do we do it? By developing state-of-the-art financial technology and putting our team of experts at the service of our clients. What about you? Do you want to have full control over your business finances? Do you want the best management control? Do you want to offer your customers the best multichannel payment gateway with a wide range of alternative payment methods? Now is your chance to set foot in the market of the future, investing in one of the sectors with the best future prospects, fintech. Are you ready? We are waiting for you.

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