Insight Report 4 minutes PremiumOnline Retailers Gear Up for Anticipated ¥1 Trillion in Spending with a New Round of Promotions: Chinese New Year Preview Update Coresight Research February 4, 2019 Executive SummarySpring Festival, or the “Chinese New Year,” is a major spending period in China — and in recent years more and more spending, gifting and sending money has gone digital. Online retailers are tapping into this trend by stepping up holiday promotions to grab a bigger slice of the Spring Festival pie. In this update to our recent Chinese New Year Preview report, we review the latest promotions offered on major marketplace websites. Chinese e-commerce platforms, such as Tmall, JD.com and Suning, are heavily promoting various traditional and non-traditional goods — many starting far in advance to tap into consumer spending early. Retail and food service sales during the Lunar New Year more than doubled since 2011, from ¥405 billion to ¥926 billion in 2018. We expect total retail and food-service sales in this year’s holiday season to hit ¥1 trillion. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: July 2023 Monthly Consumer Update: US, UK and ChinaMaximizing Growth Potential in DTC: Four Tech-Driven Strategies for Direct-to-Consumer Businesses To Scale and SucceedUS Apparel and Beauty Spending Tracker, August 2023: Beauty, Clothing and Footwear Spending Growth Slows But Remains ResilientWeekly US and UK Store Openings and Closures Tracker 2023, Week 23: US Closures Up 61%