Chinese New Year: An Opportunity for the Fashion Industry?

With Chinese New Year approaching, industry professionals are presented with an opportunity to capitalise on one of the most substantial markets in the fashion industry. The Chinese market accounted for 32 percent of global luxury sales in 2017, and their dominance is only rising. Chinese New Year provides the industry with the chance to create a targeted campaign for this domineering market. There are a variety of devices retailers and designers alike could implement, as the holiday is less than a month away.

Decorations

Celebratory decorations, whether they are advertising a promotion or simply jumping in on the festivities are a fun and eye-catching way to draw in consumers who are also observing the holiday.

The vibrant red that dominates Chinese New Year decorations represents good fortune and joy, and incorporating the colour into your decorations is a simple and subtle way to pay homage to the holiday. Other familiar signifiers are lanterns and dragons, however retailers should be wary of overcommitting to these embellishments. Keeping your designs elegant and understated is more appealing than an overly indulgent display that seems to appropriate the holiday.

Popular presentations from previous years vary from streamers and lanterns to extravagant window displays. Some of the most memorable presentations include Louis Vuitton’s window in Marina Bay Sands, Singapore, Gucci’s London display and Bloomingdale’s lantern clad exhibit.

Utilise the Media

Chinese shoppers are renown for being some of the most in-touch e-consumers in the world. So by taking to social media or updating your brand's blogs and websites you are more likely to reach these savvy shoppers.

Decorations do not start and end with bricks and mortars establishments, banners on the homepage of brands online stores are an equally valid means of attaining consumer's attention. In addition to eye-catching colour schemes and banners, personalised content which plays on the traditions of the holiday is a powerful tool.

Style inspiration and beauty tips for the extravagant holiday are a way to engage your consumer, personalise your content to the holiday season and promote your products and services within the tutorials. Regular updates are more likely to reach your consumers, and engaging content is more likely to retain their attention than an assaulting pop-up.

Capsule Collections

For brands looking for a more substantial incorporation of the holiday into their company, capsule collections have proved popular among consumers and are a more considerable celebration of the season.

This has been done successfully in previous years by brands such as Judith Leiber, Jordan Air and Adidas who released limited edition items which incorporated the colour schemes and traditional signifiers of the holiday into their designs.

With Chinese consumers dominating the luxury market, promoting a unique and extravagant product is more likely to win them over than a targeted sale. These consumers are looking for meaningful gifts to see them into the new year, rather than a bargain.

In-Store Events

Like interactive online content, in-store events provide retailers with a way to thoroughly engage with their customers and give them a memorable experience that will pay off beyond the confines of the holiday.

Events can include workshops encouraging other cultures to engage in Chinese traditions, the customary art of red-envelope decorating or even in-store beauty tutorials using pallets which reflect the bright and bold colours of the holiday.

Retailers across the world have run successful functions such as these. Macey’s event for the latest holiday season included beauty services from Glam Squad, fashion presentations and traditional lion dances, which were all an absolute hit with customers.