"Explosion in CNYE tourists" helps lift retail sales figures

Posted: Feb.10. 2016. "A second Christmas" is how one happy Sydney based retailer called the boost in sales over the traditional Chinese holiday.

Business Insider today released an article by Chris Pash highlighting the new fiscal importance of Chinese consumers retail shopping during Chinese New Year (CNYE). The article also highlights the importance of being digitally savvy and of China good social media.

Why is CNYE having this affect? CNYE results in a influx of tourists from China. The important China holiday period where majority of businesses are forced to close means that peaks of Chinese tourists are coming at CNYE. Chinese tourists are flooding to Australia on in ever increasing numbers – now around 1 million a year. The inbound travellers are growing at about 20% annually. With an average spend of USD$7,000+ per visit they are also ranked number 1 in spending. Chinese tourists to Australia are estimated to be contributing between AUD$7 billion and AUD$8 billion to local economy as they buy gifts for family and friends. And Australia is not even ranked in the Top 10 as their preferred shopping destination!

"Chinese New Year is becoming as big as Christmas for many of our retailers,” says Alison Pearson, Westfield Sydney Centre Manager. “They are seeing this as a really significant growth opportunity...”

“...We have of course identified the opportunity,” says Victoria Brown, head of marketing in Australia at Swarovski, the lead glass crystal specialists.Just based on the research we have seen recently, we know, for example, that 82% of Chinese tourist travellers view shopping as their number 1 priority when travelling, and of those shoppers, around half are buying jewellery and watches which is a consumer desire that we can certainly fill,” she said...

In another luxury market sector, a helicopter tourism operator in VIC recently informed China Sales Co. that "the Chinese new year holiday has overtaken Christmas and become our busiest week of the year."

"This article helps to show how it's up to local manufacturers to customise their products, marketing and promotions to maximise their sales to this booming market" said Robert Burns, GM of China Sales Co. a China marketing specialist. "If they can't find the courage to overcome those crucial next steps then they will continue to miss out on the Chinese tourism dollar."

Read the original article here"at Business Insider Magazine.">

Tags: china retail advice