Chinese New Year is fast approaching. In less than one month will start the Ox year (牛年) and we’ll say goodbye to the little mouse (鼠鼠). Here are three key things to watch to getting prepared for this CNY 2020.
Niche brands
Being a small brand could be an initial obstacle, but recent research has shown that this could be a strength when considering to approach a new market.
The word #小众 (Xiǎo zhòng, niche) have been searched over one million times on RED Chinese equivalent of Instagram and now Chinese users are eager to discover new brands and unique yet more distinguishable products.
Social Commerce
It’s not a secret that social media are great to promote products or brands, and eCommerce is great when it comes to selling. What about if we combine them both?
Say hello to social commerce!
iiMedia Research have predicted that in 2022 social commerce will impact for over 300 bn US$ (273 GBP), and more recommendations will come through interactive media. That’s why in order to succeed, brands presence in major Chinese Social network such as WeChat, RED or Douyin is simply quintessential!
One of the most well known social commerce platforms is Little Red Book, born as a platform where users shared reviews on all sorts of things ranging from clothes to food to tourism, it has since delved into the world of social commerce as users can find out about products and purchase them directly on the app.
Fintech
Fintech is growing with a predicted value of about 310 bn US$ (230 bn GBP), and a big innovation comes with Alipay superapp . From the fintech world the app has evolved as a digital lifestyle app and with new services such as Huabei, CBEC solutions and livestreaming has made it simple to pay instalment and attract many new customers using digital marketing tools.
This is just a little part of our report about new marketing strategies to enter chinese market, such as taking advantage of Chinese commercial and traditional festival sales momentums.
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