New Study: The Chinese New Year in Next Growth Cities
New Study from WPP, Added Value and other WPP companies unlocks year-round brand, retailer opportunities.
For anyone interested in unlocking opportunities in China and succeeding in the next wave of China’s growth, understanding the Chinese New Year is a master key.
The 15-day festival, first celebrated more than 4,000 years ago, reveals what the Chinese hold important from the past and how they’re adjusting to the rapidly changing present of increasing wealth and shifting population.
These opportunities are especially apparent in large, developing cities, often referred to as Tier Two and below. These locations will be the powerful drivers of China’s next wave of economic growth.
Brand success here will result in success in China. We visited two of these cities to conduct pioneering ethnographic research about the importance of brands during the Chinese New Year. While gaining fresh insights into the tension between holiday tradition and reinvention is a critical goal, until now it’s been difficult to achieve.
Understandably, the Chinese haven’t been eager to participate in market research during the only period of the year when they can break from work to focus on relaxation, family intimacy and reunion.
That’s why we’re especially pleased to present this report. Our team spent several days living with two families over the Chinese New Year holiday, sharing, discussing and documenting its rituals, from preparation through celebration.
The team included photojournalist Cecilie Østergren whose striking images fill this report.
With a unique combination of photographs, proprietary research and consumer insight, this BrandZ™ China study documents the contemporary celebration of the holiday and reveals how people are adopting to modern circumstances while trying to maintain traditions.
We feature some brands from our BrandZ™ Top 50 Most Valuable Chinese Brands study 2012, and conclude by distilling our findings into key insights and practical steps that brands in China, both domestic and foreign, can take to enhance the celebration, secure their part in it and be better positioned to win in the explosive growth that China’s Tier Two and below cities represent.
Understanding this phenomenon is critical to success in China. Magdalena Wong, non-executive chairman at Added Value China, spoke at the WPP, UKTI 2013 seminar to address the opportunities available to brands. Watch Magdalena’s presentation here, as well as the keynote introduction from Sir Martin Sorrell.
Written by David Roth, CEO, The Store WPP EMEA and Asia