With the Rooster New Year coming our way, brands in Asia are preparing for festive initiatives to boost sales. The challenge is to stand out from the crowd. What possible product bundles and communications excite shoppers the most? What packaging, placement and gift behavior facts do you need to consider?
Take a look at our handy infographic covering packaging, communications, placement, gifting and more to find out how you can best prepare for the coming Lunar New Year!
Infographic: Is your brand ready for the Rooster New Year?
Key insights in preparation for the Rooster New Year in 2017
Pricing
75% of consumers bought products with a price discount during the New Year period in 2016. The challenge is to optimize prices and maximize both sales and revenue.
Packaging
80% of consumers bought special products for the Lunar New Year. 1 in 2 shoppers specify auspicious packaging as the main attraction.
Promotion
1 in 3 shoppers bought bundled promotions during the Lunar New Year in 2016. Are your promotions relevant and attractive enough to beat the competition?
Although flat price discounts are most attractive to shoppers, bundled gifts can also be effective as long as they are closely related to your product. Bulk discounts however, can tie consumers to your brand for a longer time.
Placement
It is as crucial to stand out, as it is for consumers to recognize your product! By testing different products on a virtual shelf, we can identify and maximize a bundle pack that can accommodate both.
Communication
The Lunar New Year is the perfect time to promote traditional core values. It is also important
for your brand to communicate these values. Find out what consumers associate your brand with, and market yourself with credible and attractive advertising.
Gifting
A vast majority of 78% of consumers purchased a gift for their elders last year, with food and candy being the most popular gifts. Half of these shoppers bought something new for their friends and family as well.