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.
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.
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:
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.
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