Marketing Strategy for the Year of Dragon

As the Chinese New Year of the Dragon approaches, brands are poised to seize a unique marketing opportunity. Delving into the cultural significance of the Spring Festival, understanding the consumption trends of the younger generation, and recognizing their decision-making influence will contribute to crafting innovative and captivating marketing strategies for the Year of the Dragon, creating more possibilities for brands during this special occasion.


In today's New Year celebrations, it appears that the younger generation is taking the lead. According to research from Kantar and Xiaohongshu, 83% of individuals aged 18-35 believe that they or their partners will be the key decision-makers for family festivities and leisure activities during the 2024 Chinese New Year of the Dragon. This signifies that brands need to profoundly comprehend the preferences and needs of the younger generation, employing clever strategies to secure their decision-making power in Chinese New Year consumption and activity planning.


While the traditional significance of the Spring Festival for many is centered around reunion, relaxation, bidding farewell to the old, and welcoming the new, it also represents a time for the younger generation to seek a sense of ritual. The widely discussed "lack of festive atmosphere" nowadays is essentially a deficiency in ritualistic experiences, providing brands with an opportunity to create new marketing activities that promote a sense of ritual during the New Year, attracting customers.


Regarding the celebration methods for the New Year, 48% of young individuals plan to celebrate locally, 33% intend to return to their hometowns, and 18% plan to travel elsewhere to welcome the Chinese New Year. Brands can tailor their products and services to cater to these diverse celebration methods, offering unique and distinctive offerings.


In terms of consumption growth, it is anticipated that 68% of young individuals plan to increase their spending during the 2024 Chinese New Year, with 36% of consumers planning to boost their expenses on travel during the festival. Brands should employ cleverly designed promotional activities to stimulate consumers' shopping desires, encouraging them to actively participate in purchases.


As for consumption categories, the top five fixed expenditures during the Spring Festival include clothing and accessories, snacks and beverages, fresh agricultural products, dining out, and personal care and hygiene. Brands can adjust their product lines and formulate relevant promotional plans based on these consumption trends, better meeting the demands of consumers during the Chinese New Year period.