Festival Shopping - China - January 2018
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“Festivals are reshaping consumers’ spending patterns, especially online shopping festivals. Greater spending power and choice are driving individualisation among consumers and the need for innovation by retailers and brands. Demand for better quality experiences is also driving the convergence of festival shopping with festive entertainment into so-called “retailtainment”. Travel spending is also internationalising China’s festival shopping influence. While this creates new opportunities for retailers and brands, it also creates challenges. Retailers must strike the balance between tradition and change, gifting and self-indulgence, as well as shopping and entertainment, cynicism and excitement.”
– Matthew Crabbe, Regional Trends Director, APAC
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