Chinese New Year (CNY) is one of the most important festivals for Chinese people around the world. More so in China, the festival lasts 7 to 15 days and consumers across the country will celebrate with lots of shopping for gifts, home decorations and other goods. According to the data from JD.COM, since January 2023, sales of several cross-border imported items related to New Year goods and gifts have increased significantly. More people choose cross-border fresh food, drinks and health products to meet their diversified consumption needs during the festival. The latest e-commerce data can provide some valuable insights into China’s consumer preferences during the Chinese New Year.
Imported high-end seafood has become a bestseller for CNY
China consumers are increasingly looking for high quality food and drinks. Imported lobsters, sea cucumbers and overseas wines have gradually become the first choice for consumers to buy during CNY. In addition, Ferrero chocolate gift boxes, Danisa cookies and Martell brandy are popular online products for gifting.
According to the data from JD.COM, the turnover of cross-border food and beverage fresh-keeping business increased by three times year-on-year. Among which the sales for imported wine increased by three times, while sales for imported milk doubled.
Beauty gift box becomes a new choice for New Year gifts
Life is gradually returning to normal as China relaxes controls on the COVID-19 pandemic. During the CNY period, social activities such as visiting relatives and friends will increase and female segment tends to buy more beauty and skin care products. Importantly, beauty gift boxes is traditionally a popular choice for New Year’s gifts. Indeed, the sales volume of beauty gift boxes increased 100% year-on-year, with Whoo, Sulwhasoo and Cosme decorte becoming the top 3 best-selling beauty gift box brands.
What’s more, beauty related products tends to drive more sales from international brands. In particular, Freeplus facial cleanser, Chantecaille liquid foundation, Suqqu crystal cream and Selsun Gold shampoo have all become well-known products among China consumers.
The sales of health care products increased significantly
China’s aging society has led to the demand for health care products increase every year, and the market size of China’s health care products industry is rapidly expanding. In the survey, the most popular sources of imported health care products come from the United States, New Zealand and Japan. In addition, the market share of health care products from Australia and Germany is also increasing rapidly.
JD.COM sales data showed that the sales of health care products increased by 83% year-on-year in 2023, among which the sales for heart related products increased by more than three times.
At MyMyPanda, we believe globalization trend will drive more consumption in China and lead to the continuous growth of cross-border e-commerce business. Especially after the relaxation of COVID-19 control, consumer demand for overseas products will increase and present a tremendous opportunity for merchants to sell directly to China consumers. While venturing into China market right now is great, but not without challenges. Seek professional advice to understand your options before expanding into the market. Talk to our cross-border e-commerce experts, they can advise on marketing strategies for your brand to enter China.
