Did someone say Holiday Deals? The holidays are not that far away and consumers are already planning their shopping trips and gearing up for the year’s biggest shopping season. It all kicks off with Grey Thursday, Black Friday, Cyber Monday, followed by the Holiday Spending Spree and, of course, Boxing Day.
Last year, Alibaba sold more than $1 billion worth of products in the first three minutes of the sales, reported Bloomberg. Total sales on Singles’ Day in China (Nov. 11) soared to $14.3 bilion within 24 hours. The significance of the date, November 11th (11/11), is because the number “1” looks like the “bare stick”, which is the phonogram for someone who is single (“Guanggun”) in Chinese. This festival has gradually become one of the largest online days in the world.
Ethnic consumers are more prepared than ever as they’re already searching for deals across multiple platforms on their smartphone, tablet, laptop, you name it, they have it, all to find the best deal possible. During this holiday season, ethnic shoppers are more informed than ever about their purchases. Long before the actual purchase, they’ve been hitting their keypads and researching their purchases for hours on end. No purchase happens until they’ve researched, read the reviews, watch the blogs and vlogs, asked their family and friends and compared prices.
So what does all this mean for your brand? The rise of ethnic markets in Canada presents unique opportunities to Canadian businesses. The purchasing power of South Asians and Chinese is now close to $51 billion and $54 billion respectively. You need to be sure you’re targeting these ethnic segments in their space, not just during these holidays, but also before the holidays and during the year. Establish your brand presence by understanding the media channels they’re consuming. This would make it easier for you to test and learn which channels are worth investing in to ensure your brand reaches this lucrative audience.
Interested in learning more about holiday marketing? Check out our other blogs!/blog/chinese-new-year-2016-a-guide-for-canadian-multicultural-marketers