February 10 2013 marked the start of Chinese New Year and heralds the Year of the Snake. In the next couple of days, China will participate in one of the biggest retail weeks in the country’s shopping calendar, one of China’s two annual Golden Weeks.
Understanding this phenomenon is critical to success in China. The Golden Weeks are similar to the retail frenzy of the West’s Christmas, but with fundamental cultural differences.
To address these differences, and the opportunities available to brands, Magdalena Wong, non-executive chairman at Added Value China, recently spoke at the WPP, UKTI seminar on January 14, 2013.
Organised by WPP as part of the European launch of the BrandZ Top 50 Most Valuable Chinese Brands, the event was titled China – New Year, New Leadership, New Opportunities.
Wong, one of the key speakers alongside Sir Martin Sorrell, shared the importance of China’s Golden Weeks and the needs driving consumer decision making during this period, sharing key insights from a report produced by BrandZ in collaboration with other WPP companies, including Added Value. (Download the Golden Week’s Report here.)
Watch Magdalena’s presentation here, as well as the keynote introduction from Sir Martin Sorrell.
[View the presentation deck here.]
Sir Martin Sorrell was quoted as saying “”All opportunities become threats if you don’t deal with them… major Chinese companies are being built as we speak in a very significant scale not just in China but beyond.”
Contact Magdalena for more information about China’s Golden Weeks or about building brands in China.
The full podcast series of the event is is available for download from iTunes here.prevnext