Using 2022 sales data, a web advertisement platform offers tips for regional e-commerce providers on optimizing Chinese New Year sales

Last year in the lead-up to the lunar new year consumers in South-east Asia snapped up 58% more desktop PCs, 29% more apps, and 30% more in products and services on mobile web sales. 

In the Great China Region (GCR), desktop sales rose by 50%, app sales by 120%, and mobile web sales increased by 57%.

Retail categories continued to record improved sales performance in 2022:

    • Fashion performed above baseline on the way to CNY 2022, SEA’s highest increase was 24%, GCR was 34%, Singapore was 37% and Vietnam was 41%.
    • Food and Groceries doubled before CNY 2022, showing a notable uplift compared to the average during the last 2 weeks of December 2021. Highest increases were reached 2 weeks before the event for both GCR (103% increase) and SEA (86% increase).
    • Health and Beauty saw an 86% increase in SEA and a 103% increase in GCR
    • Electronics saw a 30% increase in SEA and a 60% increase in Vietnam
    • Home and Garden categories saw a 94% increase in GCR

According to Taranjeet Singh, Managing Director (South-east Asia and India), Criteo: “As we approach this festive season, it is imperative for brands and retailers to consider adopting a refreshed advertising strategy that will enable them to maximise outreach to their target audience across different platforms.”

Singh suggest five major trends that retailers should take note of:

    1. Despite the return of in-store shopping, consumers are heading online to search for the best deals and taking the hybrid path of purchasing and appreciate relevant and personalized advertising.
    2. Despite inflationary pressures, consumers will still find a way to purchase items that they love.
    3. They are now planning ahead and thinking of what to buy in bulk to maximize their spending power and make use of cost savings.
    4. Consumers believe that deals should not come at the expense of quality. Although saving money is top of mind, shoppers still want great products that are made to last.
    5. Alignment with a brand’s values and loyalty programs are strong motivators for shoppers to make a purchase right now — not just discounts.

With these insights in mind, the firm offers these three tips for e-commerce retailers to maximize consumer traction for CNY 2023: 

    • Continue expanding commerce media channels to dominate the end-to-end customer journey.
    • Provide a seamless hybrid shopping experience that creates loyalty and trust by including innovative and practical customer services such as Buy Online, Return In-store.
    • Optimize data and analytics to target audiences to ensure greater advertising reach from new and existing consumers at the point of purchase.