The finding was part of an analysis of 174 million online transactions in Hong Kong, Malaysia, Singapore, Taiwan and Vietnam
In the two weeks leading up to the 2015 Lunar New Year festivities, commonly celebrated by ethnic Chinese around the world, there was a 40 per cent increase in e-commerce sales, of which three in 10 transactions were made on a mobile device.
The surge represents an opportunity for sellers as the next Lunar New Year nears.
“Due to the traditional practice of wearing new clothes to symbolize a new beginning, consumers are doing a tremendous amount of online shopping two weeks before Chinese New Year,” said Yuko Saito, Managing Director of Criteo Southeast Asia, Hong Kong, India and Taiwan. “This spending period presents retail companies with a huge opportunity to engage consumers through personalized and relevant online advertising.”
The findings were based on an analysis of 174 million online transactions in Hong Kong, Malaysia, Singapore, Taiwan, and Vietnam before, during, and after the Lunar New Year (also known as Chinese New Year, it falls on February 8 this year), made by Criteo, a performance marketing technology company with offices worldwide.
Consumers not only bought more online but also browsed more. There was a 25 per cent increase in items added to ‘baskets’ or ‘shopping carts’ according to Criteo’s analysis.
“During special occasions like Chinese New Year, we observe instances of intensive, last-minute shopping, where consumers take less time to consider a purchase and require products to be delivered on short notice for personal use or gift-giving,”said Saito.
“Taking a three-pronged approach – engaging customers on the mobile web or on mobile apps, leveraging customers’ web browsing data to deliver personalised in-store and mobile shopping experiences, and investing in instant delivery services will be crucial to increasing sales conversions.”
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