Go over there, Cupid. There's another mythical creature taking over the month of February.
With Valentine's Day just four days after Lunar New Year, Chinese shoppers are looking for products that symbolize both love and good fortune in the Year of the Dragon.
According to Alibaba Group's marketing platform AliMama, online searches and transactions for Chinese-style bracelets, ancient-style earrings, and fortune rings are on the rise. Keywords such as “invitation” and “national” are becoming popular topics on social media. Guchao (Kokufeng) also skyrocketed by February 14th.
But that's not the only thing that makes Valentine's Day 2024 stand out from years past. On January 29, Alimama released a report in partnership with Alibaba research platform CBNData and Taobao Hot Search. We break down the biggest spending trends for this year's first love-themed holiday. Find out how brands can act during this romantic season.
It's no secret that China is feeling the pull of marriage. Only 6.83 million people in 2022 The number of Chinese couples getting married was less than half of the number of marriages registered in 2013, the lowest since 1986. Many unmarried people also choose to remain single. In the 2022 survey Of the approximately 80,000 university students in China, 42% said they are single and would like to remain single.
Luckily, Valentine's Day isn't just for couples.
“Local consumers see this festival as a holistic moment to celebrate their love for their loved ones in a broader sense,” says Anais, co-founder of French-Chinese marketing agency Reverse Group.・Mr. Bournonville explains. “It's not just about giving gifts to your wife or husband. It's about showing love to your family, friends, and pets.”
“Local consumers view the festival as a holistic moment to celebrate love for their loved ones in the broadest sense.”
In fact, “raising your pet as a baby” (养娃士养宠) is one of this year's biggest trends, with dog kennels, pet costumes (宠品亲子体), pet photo sessions, and customized pets. Alimama points out that demand for the product is increasing. On Taobao.
A brand cashes out $55 billion (RMB 392 billion) in China) Pet Economy is Bebe. An American apparel company has launched a Valentine's Day limited edition pet gift box that allows pet owners to wear matching pink clothes with their fur babies. On Taobao, you'll find vendors selling pet-sized knock-offs from brands like Boy London and Essentials.
“Modern pet owners treat their pets like family members,” says Bournonville. “Younger generations in particular are not afraid to buy luxury goods for their pets, with accessories from Gucci and Celine, and find the perfect balance between their own daily shopping and something that their pets can enjoy too. For example, the cat bags sold at McDonald's. They will be sold in limited editions alongside McDonald's menu items.”
“Luxury brands offering pet lines should definitely explore this avenue in the Valentine's Day activation. The (already high) sales of pet accessories will increase, potentially making it the peak season for this type of assortment. It’s sexual,” she added.
Whether it's for a loved one or for yourself, beauty and skin care products are very popular with Chinese consumers on vacation. According to a report by Alimama, searches for lipsticks, perfumes and home beauty devices spiked on Taobao from January 8th to 14th, with Le Rouge Chanel's 31 collection and Hermès perfume and lipsticks among the top products this year. I'm talking about gift sets.
Betting on China's luxury beauty market, brands such as Givenchy, Christian Louboutin, Prada, La Mer, Estée Lauder and YSL are launching special Valentine's Day gift boxes, many of which are shaped like hearts.
But special editions like this are common. Brands looking to stand out in China can experiment with bolder and more playful expressions of love, especially since Valentine's Day is less important than other romantic occasions in China.
“It may be wise for brands to practice the quiet luxury of giving packaging and products a secondary role, whether it’s a stand, a piece of art that can sit on a shelf, or extensive customization. If possible,” said managing director Humphrey Ho. He is a partner at digital marketing agency Hylink Group.
“Valentine’s Day can also be a virtual gift (AR/XR) with a physical gift, given the increased brand influence compared to Qixi. [which sees] It’s a more traditional expression of love,” he continues.
According to Alimama, young people aged 18 to 24 want gifts that are trendy and match their tastes (compared to the over 35s, who generally focus on gifts that improve happiness and quality of life). Contrast).
This is not surprising considering China's gamer population is 668 million people. As of June 2023, game consoles and accessories are popular gifts for Valentine's Day this year.survival game pal world (phantom 帕鲁) was released in early access version on January 19th and was also a popular search item on Taobao due to the global hype. The number exceeded 2 million on January 24th. Steam's concurrent player count makes it the game with the second-highest number of concurrent online players in the platform's history.
For those who need to cut or touch the lawn, ski wear, waterproof hiking pants, windproof jackets, and road bikes are great gifts. With China's growing focus on health and exercise, consumers are combining Valentine's Day with their love of sports, seeking practical equipment and outdoor activities to enjoy with their loved ones.
In Xiaohonshu, brands such as Fila and The North Face are promoting outdoor fashion for couples, and campsites are promoting Valentine's Day packages such as overnight tents and romantic barbecues for two.
However, since Valentine's Day falls a few days after the Lunar New Year and this year falls on August 10, a few months after May 20 and Qixi Festival, “consumer fatigue and color and brand similarity have led to brands finding appropriate solutions.” “They may not be able to have it,” Ho said. Say. “However, digital gifts and quiet expressions of love are definitely welcomed.”
With many consumers heading home for the Lunar New Year, Bournonville advises brands to target local shoppers with a broader concept of love. “Many brands promoted this couple this year as well, but they should have used the festival as a way to leverage their love of family for higher brand resonance.”
“While many brands promoted the couple this year, they should have used the festival as a way to leverage their love for family and gain higher brand resonance.”
In other words, romance is not dead. Brands can use February 14th as a day to get creative with their product offerings, strengthen customer loyalty, and even prepare for big festivals like Qixi. That said, expectations need to be managed. Given the holiday's position on the calendar and lack of Chinese cultural characteristics, as well as China's slowing economic growth, consumers may skip the celebration if the offer isn't sweet enough.
