Chinese New Year is one of the most important events for e-commerce and therefore for affiliate marketers. If you want to try your hand at affiliate promoting for this holiday - say no more! We’ve prepared everything you need to know about Chinese New Year, including of course a list of the most converting affiliate programs.
Last year the revenue from retail sales during this holiday reached $118 billion!
Do you want a slice of that cake? Keep reading! Spoiler: if you have an audience in the APAC region - this is a must-have for you!
Last year the revenue from retail sales during this holiday reached $118 billion!
Do you want a slice of that cake? Keep reading! Spoiler: if you have an audience in the APAC region - this is a must-have for you!
What is Chinese New Year and why it is important
Chinese New Year (CNY) also known as Spring Festival or Lunar New Year is the festival that celebrates the beginning of a new year on the traditional lunisolar and solar Chinese calendar. Every year it usually falls between late January and mid-February. This time it’s celebrated on January 22, 2023.
If you think CNY is a big deal only in China, you’re luckily wrong. Besides mainland China, Taiwan and Hong Kong, it is also celebrated worldwide in regions and countries that house significant overseas Chinese populations. These include:
Brunei
Cambodia
Indonesia
Malaysia
Myanmar
The Philippines
Singapore
Thailand
Vietnam
South Korea
Japan
Australia
New Zealand
The United Kingdom
The United States
Canada
Peru
South Africa
The scale of celebrations is easily compared to Christmas in Western countries and the New Year in other European countries.
Chinese New Year and E-commerce
Traditionally marked with shopping, as buying new items is seen as an embodiment of a brand-new start in the new year, CNY is an important period for brands. Top selling products vary from festive food, seasonal flowers and accessories, to clothes, furniture, and electric appliances.
The total revenue for CNY is crazy, and although pandemic impacted it negatively, the festivity is getting back what belonged to it.
Revenue of retail sales in China during Spring Festival Golden Week from 2011 to 2021(in billion yuan)
Source: Statista
Chinese New Year in Southeast Asia
The Southeast Asian e-commerce market has come a long way since 2015, when the Alibaba Group first made its way to the region. This market still remains in the crosshairs of e-commerce companies looking to tap into the massive potential in this region.
Pandemic became a massive trigger for the spread of ubiquitous e-commerce turning Southeast Asia into one of the regions with the world’s highest growth rate of online shopping. According to eMarketer data, the Southeast Asian e-commerce market had a total of US$74.36 billion in sales in 2021, and the figure for 2022 is expected to grow by 20% in 2022 reaching US$89.67 billion.
CNY is one of the most significant holidays in the region and online shopping always goes up here during this period. According to Marketing Interactive, before the pandemic, Malaysians spent about MYR8 billion annually on CNY, with people spending predominantly on food, travel, and gift-giving.
According to National Geographic, Lunar New Year is the driving force for the largest human migration in the world, with people traveling long distances to return home and be with loved ones. As the countdown begins, people buy tickets to spend holidays with the family, clean and decorate their homes, settle debts, make offerings and prayers, buy new clothes and of course plenty of food. Then, people come together for family gatherings, fireworks displays, street parades, and a whole week of celebrations.
CNY is a season filled with entertainment and an abundance of shopping bargains. Buying new items is traditionally seen as symbolizing a brand-new start for the new year, making CNY an important period for brands and retailers. Consumer spending across a wide range of products and services is traditionally high compared to other periods during the year.
Shopping trends ahead of Chinese New Year
If you feel completely lost with the Lunar New Year traditions and popular expense items, don’t be! Actually there’s lots of overlap between Western and Chinese tastes for gifts: alcohol and tobacco for adults, toys and sweets for children, luxury goods for loved ones, etc. Instead, what changes are the specific brands and preferred features of products (like flavor or color).
In terms of e-commerce these products are getting all the attention:
- Food and beverages: snacks, drinks, confectionery, preserved food, hampers, yea sang packages, abalone (for Malaysia), groceries
- Home decorations: lanterns, fruits, flowers
- Kitchen utensils
- Bathroom accessories
- New apparel and footwear, especially home clothing
- Luxury items: while originally the gifts for CNY were supposed to be small ($5 or $10 bill in an envelope, for example), that is also changing. Luxury items are becoming a major trend for families who can afford them and want to share their prosperity with others. Designer watches, jewelry, handbags, and beauty items are now sought-after gift options.
- Surprise boxes: a themed beauty box with different cosmetic and toiletry items or a gadget box with accessories and novelty items.
- Toys: some brands release limited edition toys during CNY, for example, Lego unveiled Chinese New Year-themed sets in Malaysia in 2021 that were inspired by Chinese legends.
- Electronic products: smartphones and tablets, smart home appliances
- Health products: masks, sanitizers, vitamins
Services people buy:
- House cleaning service: it’s the time of the year when houses should be perfectly cleaned and decorated.
- Entertainment: ticket for events, concerts, etc.
- Travel: in China, Southeast Asia and other regions where Chinese immigrants live, people travel long distances to return home and be with loved ones.
- Local markets preferences ranking can vary a bit, for example here are the most popular products in Vietnam for the Tet (a Chinese New Year in Vietnam):
Source: Statista
The list of the most sought after products and services ahead of the holiday in Malaysia looks like this:
Source: Statista
What attracts local customers?
- Free and fast shipping
- Brand Discounts
- Deals with free products and services: for example, free gift when purchasing order over a particular sum
- Ladder reduction of prices: for example, buy 2 items with 5% discount, buy 3 items with 10% off and buy from 4 items with 15% off
- Livestream shopping sprees: pandemic fueled the popularity of social media and live streaming platforms turning them into a huge shopping trend. According to Deloitte, the live streaming industry in China made more than $4.4 billion last year, and that number is on the rise
How to boost your affiliate marketing promotions during Chinese New Year?
- Know the deadline and get prepared in advance
The 2023 date for the Chinese New Year is scheduled for 22nd January and will be the year of the rabbit under the zodiac system. This means you’ll need to launch ad campaigns for the affiliate programs which have all their products ready to ship and available for order ahead of visiting loved ones. Similarly, if your sales from 2022’s Chinese New Year have gone well and you’d like to repeat the feat in 2023, you’ll need to pay attention to the shifting dates.
For high-value purchases, including consumer electronics and home furnishings, consumers start researching early before making a final purchase closer to the actual holiday. For low-value items, such as beauty and personal care, consumers tend to buy closer to CNY. This means you should start your ad campaigns early and stay consistent in the lead up to the holiday in order to stay front of mind.
- Be creative within traditions
The animal of the year: Lunar New Year is always associated with an animal of this year, 2023 is the year of the rabbit. Thematic goods featuring a rabbit will get all the attention, and of course you should include it in your marketing campaigns and social media images.
3. Travel: millions of people who celebrate CNY will travel to see their families
Source: Statista
Pandemic is going down, and travel is steadily rebounding. Leverage this “coming home for holidays” idea to attract more users.
Focus on family reunion: it’s one of the pillars of CNY, that’s why enhancing the family-oriented message, people being far away from home in this season - this type of message without a doubt will make hits among other ads.
Red envelope magic: gifting money in red envelopes is a great tradition during Lunar New Year which is very much alive across all countries where people celebrate this festivity. The images of red envelopes and banners which creatively feature red envelopes convert just crazily.
- Think red
- Create a sense of urgency
If it’s your first time selling into China, meeting the specific cultural tastes of Chinese nationals may seem hard — what are popular brands that people would like to buy? Are there product categories I should invest in more or avoid entirely? Are there regional variations?
The best affiliate programs for Chinese New Year
One of the biggest Chinese marketplaces with a variety of products: from clothing and shoes to electronics and homeware.
Type: CPS
Payout: up to 9%
BangGood is a Chinese retailer that has a catalog of more than 70,000 products from tens of categories: clothing, shoes, electronics, health & beauty, pet products, etc.
Type: CPS
Payout: up to 14.5%
Cookie duration: 30 days
This is a Chinese ecommerce marketplace with a variety of products: electronics, apparel, and health and beauty items, among many others.
Type: CPS
Payout: up to 15%
Cookie duration: 30 days
New Chic is an online store for women's clothing working in a segment of fast fashion.
Type: CPS
Payout: up to 20%
Cookie duration: 30 days
Shopee is the leading ecommerce online shopping platform in Southeast Asia selling thousands of products in tens of categories.
Type: CPS
Payout: up to 10%
Cookie duration: 7 days
Type: CPS
Payout: up to 7%
Cookie duration: 7 days
Type: CPS
Payout: up to 6.25%
Cookie duration: 7 days
Blibli is an Indonesian online marketplace selling a range of household and lifestyle goods.
Type: CPS
Payout: up to 4%
Cookie duration: 7 days
YOOX is an Italian online fashion retailer offering a variety of clothing and accessories from world-famous brands for both women and men.
Type: CPS
Payout: 3%
Cookie duration: 30 days
Klook is an online booking platform with more than 60,000 activities in 250 major destinations around the world.
Type: CPS
Payout: up to 5%
Cookie duration: 30 days
Wrapping It Up
Chinese New Year opens up myriads of opportunities for affiliate marketers. Adapt your campaigns to the preferences on local markets, start promoting early and get the most out of affiliate marketing.
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