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Chinese New Year is the most important holiday of the year in Chinese culture. In addition to festive meals at home and at restaurants, Chinese consumers shop for a range of holiday merchandise, decorations, gifts, new clothes. We discuss a number of ways in which retailers and brands are capitalizing on this retail opportunity this year:
- E-commerce platforms are offering various promotions before the Chinese New Year.
- Brands are launching holiday-themed products to celebrate the Year of the Rat.
Sales during Chinese New Year Golden Week could reach ¥1.1 Trillion.
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