This year, the Chinese New Year (CNY) falls on 10 February, marking the start of the Lunar Year, and Spring Festival. Celebrated across Asian cultures, it’s a spectacular, noisy and fun affair that can last for weeks.
It’s also synonymous with shopping. Special foods and gifts are bought for family and friends and new items, such as clothes and shoes, are seen to represent a favourable fresh start for the year ahead.
For merchants, CNY generates a welcomed seasonal spending spike
From multilane and department stores to luxury and hospitality, all types of merchants stand to benefit from a surge in sales driven by local Asian communities, visitors and tourists.
And it’s no small market. According to UNESCO there are over 60 million Chinese people and their descendants living overseas. Added to this are the 150 million mainland Chinese people that travel abroad annually, and hundreds of thousands of young Chinese students in foreign countries.
But CNY appeal doesn’t stop there. Chinese New Year is now a cultural event that is embraced globally by many nationalities and ages. Social and traditional media help to fuel the buzz. And retailers are responding with curated products, and in store events, displays and promotions, all designed to drive more buyers to their outlets. This year dragons are sure to feature in many marketing campaigns.
Bring dragon power to the AndroidPOS leadership
If you’re a retailer in a tourist area you may be missing out on sales if you just accept just bank cards, credit cards and debit cards. To boost your CNY sales appeal, make sure you have the right payment mix. Why not include these popular alternative methods:
- WeChat Pay
China’s ubiquitous social platform WeChat also allows payment through WeChat Pay which is now accepted in 252 countries. Used extensively by its citizens it’s also a handy mobile payment option for expats and international students living overseas. - Alipay
A mobile payment app born in China, Alipay now has over a billion users. As well as offering a digital wallet it’s also a super app that can be used across many platforms and sectors. - UnionPay International
The umbrella organization for all of China’s card payment and ATM services, UnionPay offers a mobile payment app with contactless mobile wallets and QR codes widely used when travelling abroad. It’s widely accepted in brand and department stores, fast-food restaurants, supermarkets and hotels.
4 things to consider when looking to attract Chinese shoppers
- They do their research online
Many Asian shoppers spend a lot of time browsing their options for the best places to buy specific products. If you do offer a targeted payment mix, make sure to promote it on your web and social channels. - Time may be tight for tourists so a good experience is important
While they may be happy to stand in line to get a good price, increasingly Chinese tourists want a smooth experience, especially if on a busy schedule, when buying luxury goods or making multiple purchases. Be ready to deliver fast service with contactless and QR acceptance, unattended, and hybrid services like click and collect. - They’re prepared to fill their basket
Not only do Chinese consumers like to shop, they’re also hyper efficient and like to buy in volume, especially if their research has led them to a good buy. Make sure any multiple deals and offers are clearly displayed and consider using your POS device’s multimedia functionality to display targeted offers and Chinese New Year promotions. - They’re particular about where they buy
Many are looking for authentic experiences. That said, if a store is seen to welcome them, they are more likely to return. If you offer options like Alipay and Union Pay now is the time to ensure it’s clearly visible at the entrance to your store.
Make the most of CNY sales with Castles
Remember Castles Technology can help keep your POS ready for any sales spike not just CNY. Our Android POS devices can be easily updated to accept new payment methods such as alternative payments, digital wallets and QR codes, as your customers’ and business’s needs evolve.
Packed with features and functionality, our checkout solutions can support everything from sales and marketing to logistics and inventory. Just what you need to keep even Dragon’s happy!
