The Golden Weeks and a White Christmas - How do Chinese & British consumers spend their biggest shopping festivals?
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Understanding the Golden Weeks phenomenon is critical to success in China. The Golden Weeks are similar to the retail frenzy of the West's Christmas, but with fundamental cultural differences. To address these differences, and the opportunities available to brands, Magdalena Wong, non-executive chairman at Added Value China, recently spoke at the WPP, UKTI seminar on January 14, 2013. Watch Mag's presenation here: http://youtu.be/zXFpauAdEAo
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The Golden Weeks and a White Christmas - How do Chinese & British consumers spend their biggest shopping festivals?
- 1. GOLDEN WEEKS & WHITE CHRISTMAS How do Chinese and British consumers spend their biggest shopping festivals Magdalena Wong January 2013
- 2. Stress! British: Wear-out Sufficiency Chinese: New-found Abundance
- 3. Government-engineered long holiday Labour Day: May National Day: October Chinese New Year: January/ February Golden Weeks in China
- 4. Chinese: New-found Abundance Progress is a reality for almost everyone Elderly to catch up with their lost years Middle-aged work hard to make money and provide for their family Youngsters enjoy abundance of love, care and material support from their parents Consumerism
- 5. British: Wear-out Sufficiency Have been through the excitement Sufficiency for a generation Mature consumer culture Fatigue Running out of ideas
- 6. Golden Weeks participation is imperative for brands in China
- 7. It is Golden, not White Royalty, wealth, safety Loud, flashy, showy Can be intimidating Chaos and disorder Peace and order
- 9. Crowds signify SAFETY & TRUST When food is NOT food Non-transparency of product information and consumer rights
- 10. Chinese consumers like to do their own research and they also like to be serviced Information channel in brand choice 1) Word of mouth recommendation 2) Brands’ official websites 3) Search engines 4) TV Attention, respect Interactive play between Parent-Child and Adult-Adult relationship
- 11. Making a deal Money can be talked about Price is negotiable Part of the experience
- 14. “IT IS A JOLLY GOOD DEAL!” Thank you