Get Your Business Chinese New Year Ready!

get your business chinese new year ready!Photo: Waze 

 

The Lunar New year is approaching, and Malaysians are busy on the lookout for the best deals.

Whether you’re a small business, a retail store or even a restaurant, there’s always a way to direct traffic to your store and maximize your earnings this festive season. That said, here are some insights by Waze to help your business ride through the year of the rat!

Insight #1: The Early Bird Gets The Worm

You better hurry as Malaysians shop for the holiday at least 6 weeks prior!

According to Google’s 2018/2019 Internal Data, Search Trends, there is twice the increase in searches for stores and store locations leading up to Chinese New Year.

So while you’re still figuring what day or date it is after you’ve had your Christmas celebrations, maybe you can start browsing your go-to stores for your CNY shopping.

Insight #2: New Year, New Stuff

There’s just something about the festive season that turns people into Shopzilla since 9% of us spend more during this festive season and are 44% more likely to look for new brands.

Based on an analysis done by Vision API on 10k hashtags that trended on Instagram and Twitter in Singapore last year, CNY appears to be the most emotionally resonant period of the year. So, expect brands to release products that resonates with the spirit of CNY to get our attention.

Business owners too may tap into this festive opportunity to better capture the hearts of their customer.

get your business chinese new year ready!Photo: Tavel Feeder

Insight #3: With Festivities Comes Refuelling

A grand total of 2.1 million navigations were made to both fuel and auto locations on average each month, with 1.3 million to gas stations alone.

According to insights from Waze’s data, traffic to gas stations in Malaysia are highest a week before CNY, with people planning their shopping trips or journey back to their hometowns.

With that in mind, business can strategize on how to steer potential customers to their locations, giving them a reason to return

Insight #4: It’s Yee Sang Season!

What’s CNY without family gatherings and big reunion dinners?

It’s no wonder that a whopping 7.2 million navigations are made to food locations: 4.4 million to restaurants, 800,000 to fast food joints and another 800,000 to coffee shops during this festive season.

It’s pretty obvious for business owners that there’s only one way to potential customers’ hearts, it’s through their stomach! So go ahead and advertise that 2 for 1 deal to get your customers running to your stores!

Insight #5: Retail Therapy Is Real

With all the stress from planning during the holiday season, what better way to unwind than retail therapy! Retail therapy is still therapy right?

A total of 8.75 million navigations were made to retail locations during last year’s CNY month.  While online shopping is still steadily gaining popularity, there are people who still enjoy going to actual stores for the retail therapy experience.

Take advantage of Malaysians’ love for shopping by strategizing on how to make it worth their journey down to your store, with great deals and discounts, leaving them wanting more!

Insight #6: Ang Pao All Around!

It’s Ang Pao season!

In 2019, Waze’s data indicated that there were staggering 1.3 million navigations made to banks and ATMs, and that traffic to these locations start to peak 2 weeks before and after CNY - likely people withdrawing cash for red packets, and depositing collected Angpaos afterwards.

With Malaysians out and about giving and receiving Angpaos, there is a golden opportunity to make your brand more discoverable, especially if you are located near ATMs and banks.

There you are, a complete guide for businesses on how to make this CNY banyak Ong!

By: Siti Farhana Sheikh Yahya