Seeking the spenders
It will be the Year of the Horse in China next month, and US retailers now focused on Christmas shoppers are getting ready for the surge — they hope — of Chinese buyers, Caroline Berg reports from New York.
From New York City’s luxury shopping veins of Fifth and Madison avenues to outlets across the country, US retailers will be seeking to cash in on the influx of Chinese tourists who will come to the US during the two-week Lunar New Year festival that begins on Jan 31.
“This is a huge population that loves to travel and loves to shop,” said Evan Saunders, CEO and co-founder of Attract China, a Boston-based marketing-solutions company. “You want to embrace the fact that you understand their culture, and that it’s a holiday where they come from and that might be the reason why they are where they are, traveling abroad.”
The Chinese New Year, also known as the Lunar New Year and Spring Festival, is as important to the Chinese population as Christmas is in the West. Just as foreign countries that don’t celebrate Christmas still set up holiday displays in hotels and shops to welcome Western travelers, the Chinese appreciate efforts by US retailers to acknowledge the Chinese New Year, Saunders said. and a modest logotype. Moreover, the recent development of secondhand luxury boutiques has also become popular, according to an article in Jing Daily.
“In the past a consumer might buy something that was the piece that everybody wore,” Buchwald said. “Now, we see people peacock a little bit and wear things that their friends may not have.”
Buchwald said people may still be buying a $3,000-$5,000 handbag that is still recognizable to a brand’s style and craftsmanship, but not as much recognizable for their label.
“Tied to that, we’re seeing women and men really learn how to mix and match, so there’s no monochromatic LVMH look,” Buchwald said.
He said Chinese consumers are learning more about how to pair different brands and understand the trends coming out of Paris, in terms of colors or patterns, instead of dressing directly out of Prada or Hermes look-books.
“China is the future,” said Brian Buchwald, founder and CEO of Bomoda — an online community focused on curating luxury fashion and lifestyle for Chinese shoppers worldwide. “You have this huge population base that is very ambitious, that is willing to work hard and has shown massive economic, education and cultural gains in the past one to two decades, and I feel like it’s only accelerating.” Contact the writer at firstname.lastname@example.org
Southern California’s posh South Coast Plaza celebrated its fourth annual Lunar New Year with the Year of the Snake this year and will welcome the Year of the Horse in 2014.
Werner Escher welcomed stilt circus performers for the 2013 Spring Festival at South Coast Plaza.