Insight ReportDigital Red Packet Transactions for Chinese New Year Continue to Be Popular in 2019 Coresight Research February 7, 2019 Executive SummaryThe Spring Festival, also called the Lunar New Year or Chinese New Year, ushers in a period of spending and celebrations across China and other countries that observe the festival. Early data released by WeChat, China’s most-used messaging app, show that 14.2% of the red packets that were sent on New Year’s Eve used WeChat’s new feature, which allows users to customize their greetings. Those born in the 1990s are the biggest givers and receivers of WeChat’s digital red packets, followed by those born in the 80s and then the 70s. The busiest time for exchanging New Year wishes in China was between 8:00 PM and 9:00 PM on New Year’s Eve (Monday, February 4). China UnionPay saw 81.3% year-over-year growth in the value of interbank transactions on New Year’s Eve. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Trends and Predictions for 2025 with Updates from CES and NRF: Premium Subscriber Call, January 2025Breathing Space for US Retailers and Brands: US Tariffs Paused for 90 Days But Hiked Further for ChinaUS Back to School 2025, Part 3: Essential Categories and Apparel for the BTS Season—Athleisure and Basics Set to LeadNextGen 2025: Retail, Real Estate & the New Consumer—Agenda
