"China's Marketing Day Revived by 'Consumer Festival' Craze... Domestic Companies Must Actively Utilize"

[Asia Economy Reporter Jeong Hyunjin] A consumer festival craze, such as '○○ Day,' is sweeping China, and opinions have been presented that domestic companies entering the local market should strategically utilize these events.

The Korea International Trade Association's International Trade and Commerce Research Institute stated on the 25th in the report titled "China's Consumer Festivals and Utilization Strategies for Our Companies," "To capture Chinese consumers, companies need to analyze various consumer festivals closely related to their main products and actively utilize them."

According to the report, consumer festivals held in China are expanding annually in scale, participating companies, and product categories. As the purchasing power of the younger generation, mainly those born in 1990 and 2000, increases, linking with social media and short clip (short video) platforms is becoming common.

(Data provided by Korea International Trade Association)

Chinese consumer festivals include marketing days themed around history and culture such as Chunjol (Lunar January 1), Jungchujeol (Lunar August 15), Gukgyeongjeol (October 1, National Day commemorating the founding of the People's Republic of China), and Chilseokjeol (July 7, the Chinese version of Valentine's Day). There are also marketing days led by platform companies such as JD.com's Liuyiba (June 18), Alibaba's Guanggunjie (November 11), and Taobao's Shuangse'er (December 12).

During the Chunjol period, the 'Yeonhwajeol' event is held extensively both online and offline. Last year, due to the impact of COVID-19, it was mainly conducted online, with online retail sales exceeding 120 billion yuan (approximately 21 trillion won) six days before the Chunjol holiday. The Korea International Trade Association emphasized, "Consumer festivals are mostly held regularly in line with holidays and anniversaries," adding, "Companies need to establish and prepare annual participation plans considering themes and main product categories."

In particular, it advised, "For example, companies related to men's and women's cosmetics, jewelry, and newlywed home appliances should focus on the consumer festival held on Chilseokjeol." The association also noted that considering the 'Guochao (patriotic consumption)' culture during holidays or anniversaries, collaboration strategies with Chinese traditional brands are effective, adding, "For festivals led by e-commerce platforms such as Liuyiba and Guanggunjie, companies must thoroughly check participation conditions such as platform entry, prior application and review, and compliance with other internal regulations."

This content was produced with the assistance of AI translation services.