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. 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: Weekly US and UK Store Openings and Closures Tracker 2024, Week 14: Aldi Announces UK Store Expansion PlanDecember 2023 US Housing Market Indicators: Positive Shifts To Start the New YearFebruary 2023 US Retail Sales: Total Sales See Second Month of Strong ExpansionCoresight Bites: China Consumer Tracker—Some Positive Trends Despite Overall High Avoidance of Public Places
